United Technologies Corporation (UTX) - NYSE
  • Mon, Feb. 8, 7:44 AM
    • Airbus (OTCPK:EADSY) has decided not to use engines made by Pratt & Whitney (NYSE:UTX) to power the first test flight of its A321neo, and will instead use those made by rival CFM International.
    • The French planemaker played down the switch, saying it didn't matter which engines were used for initial flights.
    • Airbus still intends to deliver the first A321neos powered by Pratt & Whitney by the end of 2016, with the CFM-powered A321neos being handed over in early 2017, said spokesman Stefan Schaffrath.
    | Mon, Feb. 8, 7:44 AM | 2 Comments
  • Fri, Feb. 5, 11:25 PM
    • The U.S. Defense Department plans to buy 404 Lockheed Martin (NYSE:LMT) F-35 fighter jets over the next five years, part of revised procurement figures to be released Tuesday when the Pentagon issues its fiscal 2017 budget and the new five-year plan, Reuters reports.
    • The orders will amount to ~$40B in new revenue for LMT, the DoD's top supplier, and engine maker Pratt & Whitney (NYSE:UTX), according to the report.
    • The new plan calls for the Air Force to buy 243 F-35 jets through fiscal 2021, 45 fewer than planned, as the service juggles funds to pay for a new long-range bomber to be built by Northrop Grumman (NYSE:NOC) and KC-46A refueling planes to be built by Boeing (NYSE:BA).
    | Fri, Feb. 5, 11:25 PM | 63 Comments
  • Fri, Feb. 5, 3:58 PM
    • Aircraft engine maker CFM International, a joint venture of GE and France's Safran (OTC:SAFRF), says it sold 2,154 engines last year valued at $27B, including 1,418 LEAP engines and 736 CFM56 motors.
    • CFM says its backlog of LEAP engines, which power the Boeing (NYSE:BA) 737 MAX and Airbus (OTCPK:EADSF, OTCPK:EADSY) A320neo jetliners, now stands at more than 10K units valued at $140B.
    • The results come after problems developed with the Geared Turbofan engine, which competes with the LEAP and is made by rival Pratt & Whitney (NYSE:UTX), which says the problem - which requires a three-minute cooling procedure before the engine can be restarted - should be fixed this month.
    | Fri, Feb. 5, 3:58 PM | 8 Comments
  • Fri, Feb. 5, 10:49 AM
    • Airbus (OTCPK:EADSF, OTCPK:EADSY) is renegotiating delivery schedules for its revamped A320neo and has told some airlines the jet will be delayed by around two months, Reuters reports.
    • Airbus missed a 2015 target for delivering the first aircraft due to what it described as issues with documentation for its new Pratt & Whitney engines; industry sources also point to delays in deliveries of the newly developed Geared Turbofan engine from the United Technologies (NYSE:UTX) subsidiary.
    | Fri, Feb. 5, 10:49 AM
  • Wed, Jan. 27, 7:37 AM
    • Adjusted income from continuing operations of $1.3B, or $1.53 per share vs. $1.5B, or $1.67 per share in the same period a year ago.
    • Sales by segment: Otis -7%; UTC Climate, Controls & Security -2%; Pratt & Whitney -5%; UTC Aerospace -4%.
    • Returned $12B to stakeholders, including share repurchase and dividends.
    • "In line with our 2015 strategic priorities, we took decisive actions to streamline our portfolio," CEO Gregory Hayes declared. "We also streamlined UTC’s organizational structure and initiated a $1.5B multiyear restructuring plan to improve competitiveness."
    • The company also affirmed its outlook for 2016: Adjusted EPS of $6.30-$6.60 on sales of $56B-$58B.
    • Q4 results
    | Wed, Jan. 27, 7:37 AM
  • Wed, Jan. 27, 7:05 AM
    • United Technologies (NYSE:UTX): Q4 EPS of $1.53 beats by $0.01.
    • Revenue of $14.65B (-2.2% Y/Y) misses by $700M.
    | Wed, Jan. 27, 7:05 AM | 7 Comments
  • Tue, Jan. 26, 5:30 PM
  • Thu, Jan. 14, 5:38 PM
    • United Technologies (NYSE:UTX) has named Robert Leduc as president of Pratt & Whitney, to replace retiring chief Paul Adams.
    • Leduc had been president of UTC's Sikorsky Aircraft before its sale last year. He's had a career at the company spanning the last 35 years, including serving as chief operating officer at Pratt & Whitney and leading its Large Commercial Engines business.
    • Also, the company said Dave Hess has been named UTC's chief customer officer for aerospace and executive VP.
    • Leduc and Hess will both report to CEO Gregory Hayes.
    | Thu, Jan. 14, 5:38 PM
  • Fri, Jan. 8, 7:38 AM
    • Bernstein downgrades United Technologies (NYSE:UTX) to Market Perform from Outperform, with a price target of $104 (from $116).
    • Analyst Douglas Harned sees little downside to shares, which is near trough levels, but does not see a catalyst over the next 12 months to move shares higher.
    • United Tech fell 18% in 2015.
    • Previously: United Tech downgraded in favor of Honeywell at Sterne Agee CRT (Jan. 06 2016)
    | Fri, Jan. 8, 7:38 AM | 1 Comment
  • Thu, Jan. 7, 10:36 AM
    • United Tech's (UTX -0.2%) Otis Elevator has entered into a multimillion-dollar agreement with W.S. Bellows Construction Corporation to supply elevator units for Texas Children's Hospital, one of the largest pediatric hospitals in the nation.
    • Otis will provide 18 elevators for the new pediatric tower, and currently maintains the service on its nearly 100 other elevators at the facility.
    | Thu, Jan. 7, 10:36 AM | 1 Comment
  • Wed, Jan. 6, 2:54 PM
    • United Technologies (UTX -3.2%) is downgraded to Neutral from Buy with a $100 price target by Sterne Agee CRT, which sees shares stuck in another tight trading range based on 14x-16x 2016-17 estimates over the next nine-plus months given limited operating income growth offset by aggressive buybacks.
    • While buybacks support the downside in UTX stock, the upside is limited as only one of the company's four segments has operating income growth in 2016, the firm says.
    • Sterne sees better risk/reward for investors over the next 12 months through Honeywell (HON -1.7%), which it calls a margin expansion story that offers confidence in achieving a premium multiple to the industrial group.
    | Wed, Jan. 6, 2:54 PM | 3 Comments
  • Wed, Jan. 6, 8:17 AM
    • United Technologies' (NYSE:UTX) Pratt & Whitney unit, recorded a pre-tax charge of about $870M in the fourth quarter of 2015.
    • The charge relates to a series of amendments to certain research and development support arrangements the company had previously entered into with Canadian federal and provincial government agencies.
    • SEC Form 8-K
    • UTX -2.1% premarket
    | Wed, Jan. 6, 8:17 AM
  • Fri, Jan. 1, 4:53 AM
    | Fri, Jan. 1, 4:53 AM | 27 Comments
  • Dec. 10, 2015, 5:17 PM
    • United Technologies (NYSE:UTX) +1.2% AH after it raises the lower end of its FY 2015 earnings forecast and announces a $1.5B restructuring plan aimed at cutting costs.
    • UTX lifts the low end of its 2015 adjusted EPS by $0.05 to $6.20-$6.30 from its prior outlook for $6.15-$6.30, and foresees 2016 adjusted EPS of $6.30-$6.60 on sales of $56B-$58B.
    • UTX also says it will implement a $1.5B three-year restructuring plan focused on structural cost reductions in high-cost locations, which is expected to save $900M/year; restructuring charges in 2015 are now seen at ~$400M, up from prior expectations of $300M.
    • Also, UTX says it expects to record a $3.3B after-tax gain on the Sikorsky sale during the current quarter.
    | Dec. 10, 2015, 5:17 PM | 2 Comments
  • Dec. 1, 2015, 10:41 AM
    • Otis Elevator (UTX +1.1%) has entered into a multimillion-dollar agreement with Prairie District3 Partners to supply elevator and escalator units for Chicago's McCormick Place convention facility campus.
    • As part of the expansion, Otis will provide 39 units for the new event center and headquarters hotel.
    | Dec. 1, 2015, 10:41 AM
  • Nov. 26, 2015, 5:03 AM
    • President Obama has signed a sweeping defense policy bill into law despite provisions that make it harder to close the Guantanamo Bay military prison.
    • The legislation authorizes $607B in annual defense spending and "includes vital benefits for military personnel, facilitates ongoing operations around the globe, and important reforms to the military retirement system."
    • Related tickers: GD, BA, NOC, LMT, RTN, OA, HII, HON, UTX, ITT, TXT, LLL, COL
    | Nov. 26, 2015, 5:03 AM | 72 Comments
Company Description
United Technologies Corp. provides products and services to the building systems and aerospace industries worldwide. The company operates through five business segments: Otis, UTC Climate, Controls & Security, Pratt & Whitney, UTC Aerospace Systems, and Sikorsky. The Otis segment designs,... More
Country: United States