Spinoff Report
RTX, CARR & OTIS: Further Upside After Strong Three-Way Listing, MP Increases
Following the completion of its simultaneous three-way Spinoff of Carrier Global Corp. (CARR) and Otis Worldwide Corp. (OTIS) and the merger with Raytheon Co. (RTN) to create Raytheon Technologies Corp. (RTX, Parent ex-Spins), the three newly separated companies provided strong returns on a down market day last Friday (April 3). All three entities have long-term value creation opportunities ahead, given their market-leading positions, higher margins and further potential upsides.

  • The Edge Recommends Investors to Accumulate RTX & CARR and Hold OTIS at Current Levels
  • RTX is the Leader in Aerospace & Defense / Trading at a 32.9% Discount to Peer Average
  • CARR's Leverage Concerns Seem Priced-In / OTIS Shows Long-Term Upside in Bull Case
  • Three-Way Spinoff Completed April 3, 2020 / Outperformed S&P 500 Index on the Day
  • RTX & CARR Increase Spinoff MP Weightings by +2% at the End of Today's (April 6) VWAP
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