UBS Cuts Price target on United Technologies (UTX) to $115; Reiterates Buy
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United Tech's Pratt issues will drag on cash flow: CEO
September 16, 2016 3:55 PM EDTBy Alwyn Scott
NEW YORK (Reuters) - United Technologies Corp's (NYSE: UTX) chief executive officer said on Friday the company would deliver 150 Pratt & Whitney engines this year, missing its target of 200 and putting "pressure on cash flow."
United Technologies shares fell about 1.8 percent after CEO Greg Hayes spoke about the issue at an investor conference hosted by Morgan Stanley. They were down 2.3 percent at $100.33 in afternoon trading, the biggest decliner in the Dow Jones Industrial Average.
Hayes said front fan blades are among about five engine parts "that are causing... More
United Technologies says Pratt engines building in inventory
September 16, 2016 12:00 PM EDTNEW YORK (Reuters) - United Technologies Corp's (NYSE: UTX) chief executive said on Friday that the company has a buildup in inventory of Pratt & Whitney aircraft engines and that hitting its cash flow targets in 2016 "depends on getting engines out the door."
Chief... More
