This merger follows the completion of the spin-offs of UTC’s Carrier and Otis businesses. Founded 165 years ago, Otis a leader in the approximately $75 billion global elevator and escalator industry. FRONT >> Events > View All View All. View real-time stock prices and stock quotes for a full financial overview. April 22, 2021 MUNICH; Otis Selected to Provide 92 Escalators for Munich Metro Modernization READ THE ARTICLE . Find the latest historical data for Otis Worldwide Corporation Common Stock (OTIS) at Nasdaq.com. That's because we received half a share of Otis for every United Technologies share we owned. The Otis brand is … Otis Worldwide (OTIS) to Begins Trading on NYSE Following United Technologies (UTX) Spin-Off. It was in 2019 that UTC then announced its intention to merge with Raytheon Technologies. Facebook. 3 According to a recent publication by Fortune Business Insights, the global escalator and elevator market was estimated to be worth $70.95B in 2018, implying an 18.2% market share for Otis. Cision Distribution 888-776-0942 To effect the separations, the UTC Board of Directors declared a pro rata dividend of Carrier Global Corporation (NYSE: CARR) common stock and Otis Worldwide Corporation (NYSE: OTIS… I have published “Spin-Off Research”, an institutional advisory report featuring analysis on spin-offs since March, 1997. Pinterest. Computershare Trust Company, N.A., is the transfer agent, registrar and dividend disbursing agent for Otis’ common stock. Otis Elevator boasts 68,500 employees and two million elevators in service around the world. I'm documenting how I'm planning to handle UTX's spinoff of both Carrier Global Corp. (CARR) and Otis Wordwide Corp. (OTIS) and the merger of RTN and UTX to Raytheon Technologies Corp. (RTX). The record date was March 19, and the distribution date will be April 3. More events are coming soon. Investor Briefing Learn More. Otis Worldwide Corporation (NYSE:OTIS) was in 56 hedge funds’ portfolios at the end of the second quarter of 2020.The all time high for this statistics is 4. UTX shareholders will get 0.5 shares of Otis for each share held. Otis Worldwide Corporation is a company in the U.S. stock market and it is a holding in 149 U.S.-traded ETFs. OTIS has around 29.3M shares in the U.S. ETF market. Twitter. 2020 Net Sales ~ 2.1 M. Units Maintained. Also, maybe this will help others in a similar situation. According to Carrier, in 2018 UTC announced its intention to separate into three independent companies — Carrier, Otis, and UTC. April 26, 2021 FARMINGTON, CONNECTICUT , UNITED STATES; Otis First Quarter 2021 Results READ THE ARTICLE. Both spin-offs will be tax free. The razor is ~1M units are sold and installed annually with 50% of … A spin-off occurs when a company divides itself into two or more pieces. Judy Marks On Why She Elevated D&I To Top Priority At Otis Worldwide. On spin day, UTC shareholders received 2.833 shares of RTX, 1 share of CARR, and a 0.5 share of OTIS common stock — for every one share of UTC common stock held on … Otis Worldwide Corp (Spin-Off 1) Otis Elevator Company is the world's leading manufacturer of people-moving products, including elevators, escalators, and moving walkways, with significant recurring revenue from long-term maintenance contracts. We move 2 billion people a day and maintain more than 2 million customer units worldwide - the world’s largest portfolio. Recently, United Technologies broke up into three independent public companies.First, it spun off its two non-aerospace divisions: Otis Worldwide Corp and Carrier Corporation ().Then, it merged the remaining aerospace company with Raytheon to create an aerospace/defense giant.Thanks to United Technologies’ dividend history, Otis, Carrier, and Raytheon are all considered Dividend Aristocrats. April 22, 2021 SEOUL, SOUTH KOREA; Otis Gen2® Life Earns … On April 3, 2020, aerospace products-maker Raytheon Technologies Corp. spun off its Otis (elevators) and Carrier (heating and air conditioning) businesses to its shareholder. There’s a lot of confusion about spinoff shares. If you own stock in a company that has a spin-off, the cost basis you have in the original company is divided amongst the resulting divisions. Trade name. Urbanization Drives Otis Growth in China, World’s Largest Elevator Market READ THE ARTICLE. For each share they held, investors received 0.5 of a share in the new Otis and 1 share in Carrier. Company profile page for Otis Worldwide Corp including stock price, company news, press releases, executives, board members, and contact information By. UTC first announced its intention to separate its commercial businesses into independent entities on Nov. 26, 2018. In this video I cover how United Technologies will spin-off into three separate publicly traded companies United Technologies, Carrier, and Otis Elevators. Summary. Otis, a company with a long history, is the world’s leading manufacturer of elevators, escalators and moving walkways. Past events. 2 B. Construction trends might slow for the foreseeable future, but … Published May 2nd, 2020 This article is written by Rich Howe, CFA, who monitors the stock spin-off market at www.stockspinoffinvesting.com. Otis Worldwide Corp ()Otis Worldwide is one of the largest elevator firms in the world. For this reason, Otis Worldwide stock belongs in a long-term growth portfolio regardless of its post-spinoff run. E United Technologies Merging With Raytheon, Will Spin Off Otis Worldwide And Carrier Global By Ingrid Hendershot. Learn More . OTIS | Complete Otis Worldwide Corp. stock news by MarketWatch. Otis Worldwide Corporation; Former North American Headquarters in Farmington, Connecticut. Linkedin. We are the world’s leading company for elevator and escalator manufacturing, installation and service. Both of those happened on 03 April 2020. April 26, … We give people freedom to connect and thrive in a taller, faster, smarter world $ 12.8 B. Prior to this, UTX announced its intent to spin off its non-aerospace businesses, elevator company Otis Worldwide Corp. and HVAC maker Carrier Global Corp. Find out whether you should buy, sell, or hold them. For example, if you owned 100 UTX shares, you should receive 0.5 x 100 = 50 OTIS shares. Otis Worldwide is the leader in a $75B industry where the top 5 players have 70% of the market share. First, it spun off its two non-aerospace divisions: Otis Worldwide Corp ( OTIS) and Carrier Corporation (CARR). ×. Otis Worldwide Corporation Deep Dive - March 25, 2020 Resources from Parent Company: Otis Form 10 - March 11, 2020 Otis Investor & Analyst Day - February 11, 2020 Board Approves Spin-off - March 11, 2020 Other Resources: Why You Should Raytheon Technologies Corporation announced on Friday, April 3, that the all-stock merger between the company and United Technologies Corporation (UTC) has been completed. Recently, United Technologies (UTX) broke up into three independent public companies. Otis Worldwide Corp. (OTIS, Spinoff): OTIS will have a strong position to capitalize on growth potential in China. Otis Elevator Company: Type: Public: Traded as. NYSE: OTIS; S&P 500 … Otis Elevator (OTIS) declared a quarterly dividend of 20 cents/share. Spinoff Security (or Symbol of New Company): Otis Worldwide (OTIS) Shares received: 0.5 x (# of UTX shares owned) (Remember to include fractional shares.) This amount does not seem in line with the cost basis allocation. Otis, founded in 1853 by Elisha Otis who invented the elevator safety brake, is trusted to operate in some of the world’s most renowned buildings, including the Empire State Building and the Eiffel Tower. Questions and communications regarding transfer of stock, replacement of lost certificates, dividends, address changes, and the Stock Purchase and Dividend Reinvestment Plan administered by Computershare should be directed to: C.J. Otis Worldwide Corporation (branded as the Otis Elevator Company, its former legal name) is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment. Otis’s 2019 revenue was about $13.1 billion and EBIT was about $1.8 billion. The spinoffs and the … Cost basis is the total amount that you paid for an investment, such as a stock. Note: IANAL, so don't take anything I say as gospel. The 167-year-old company was already on a cultural journey leading up to its April spinoff, but recent racial unrest inspired Marks to take big steps toward measurable equity. Hopefully, someone will correct anything wrong. Prince - August 21, 2020. Find the latest Otis Worldwide Corporation (OTIS) stock quote, history, news and other vital information to help you with your stock trading and investing. Then, it merged the remaining aerospace company … Upcoming events. FARMINGTON, Conn., March 11, 2020 /PRNewswire/ -- United Technologies Corp. 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