NEW YORK, March 31, 2020 /PRNewswire/ -- S&P 500 and 100 constituent United Technologies Corp. (NYSE: UTX) is spinning off Otis Worldwide and Carrier Global and then merging with Raytheon in transactions expected to be completed on April 3. Post spin-off and merger transactions, United Technologies will remain in the S&P 500 & 100 indices. It will change its name to Raytheon Technologies Corp. and its ticker symbol to RTX.
Otis Worldwide Corp. (NYSE: OTIS) and Carrier Global Corp. (NYSE: CARR) will be added to the S&P 500 prior to the open of trading on Friday, April 3. Otis Worldwide will replace Raytheon Co. (NYSE: RTN), and Carrier Global will replace Macy's Inc. (NYSE: M) both of which will be removed from the S&P 500 effective prior to the open of trading on Monday, April 6. Also effective on April 6, American Tower Corp. (NYSE: AMT) will replace Raytheon in the S&P 100, and Macy's will replace KLX Energy Services Holdings Inc. (NASD: KLXE) in the S&P SmallCap 600. Macy's has a market capitalization more representative of the small-cap market space. KLX Energy is no longer representative of the small-cap market space.
Otis is an elevator and escalator manufacturing, installation and service company. Headquartered in Farmington, CT, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Industrial Machinery Sub-Industry Index.
Carrier Global is a provider of HVAC, refrigeration, fire and security solutions. Headquartered in Palm Beach Gardens, FL, the company will be added to the S&P 500 GICS Building Products Sub-Industry index.
Macy's operates retail stores and websites. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS Department Stores Sub-Industry index.
American Tower, operating as a real estate investment trust (REIT), owns, operates and develops multitenant communications real estate. It is headquartered in Boston MA.
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Otis Worldwide Corp. (NYSE: OTIS) and Carrier Global Corp. (NYSE: CARR) will be added to the S&P 500 prior to the open of trading on Friday, April 3. Otis Worldwide will replace Raytheon Co. (NYSE: RTN), and Carrier Global will replace Macy's Inc. (NYSE: M) both of which will be removed from the S&P 500 effective prior to the open of trading on Monday, April 6. Also effective on April 6, American Tower Corp. (NYSE: AMT) will replace Raytheon in the S&P 100, and Macy's will replace KLX Energy Services Holdings Inc. (NASD: KLXE) in the S&P SmallCap 600. Macy's has a market capitalization more representative of the small-cap market space. KLX Energy is no longer representative of the small-cap market space.
Otis is an elevator and escalator manufacturing, installation and service company. Headquartered in Farmington, CT, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Industrial Machinery Sub-Industry Index.
Carrier Global is a provider of HVAC, refrigeration, fire and security solutions. Headquartered in Palm Beach Gardens, FL, the company will be added to the S&P 500 GICS Building Products Sub-Industry index.
Macy's operates retail stores and websites. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS Department Stores Sub-Industry index.
American Tower, operating as a real estate investment trust (REIT), owns, operates and develops multitenant communications real estate. It is headquartered in Boston MA.
For more information about S&P Dow Jones Indices, please visit www.spdji.com.
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500 and the Dow Jones Industrial Average. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1,000,000 indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
FOR MORE INFORMATION:
S&P Dow Jones Indices
index_services@spglobal.com
Media Inquiries
spdji.comms@spglobal.com
Index Governance Inquiries
IGCC@spglobal.com
SOURCE S&P Dow Jones Indices
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