United Technologies' Carrier orders signal housing strength, CFO says

|About: United Technologies Corpora... (UTX)|By:, SA News Editor

United Technologies (UTX +0.9%) CFO Greg Hayes says Q1's 19% Y/Y rise in orders for the company's Carrier heating and cooling systems - despite the harsh winter weather conditions - suggests growing strength in the U.S. housing market.

Hayes says Carrier's residential business historically has proven a reliable indicator about the state of the U.S. housing market; in 2007, Carrier's sliding sales foreshadowed the coming housing bust, but "here it is 2014 and it's going the other way, so we feel pretty good about the U.S. economy."

Sterne Agee likes what it saw in UTX's Q1 results, reiterating its Buy rating, while RBC Capital calls the quarter a good start on the way toward improved growth through the year.

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