United Technologies Announces Agreement To Sell Sikorsky Aircraft

RBC Capital Cuts Price Target to $114 Following United Technologies (UTX) 2Q EPS Beat

RBC Capital maintained an Outperform rating on United Technologies (NYSE: UTX), and cut the price target to $114.00 (from $141.00), following its 2Q15 earnings report. UTX reported 2Q15 EPS of $1.73, beating consensus by 2c. Management decided to cut 2015 guidance with the EPS forecast declining from $6.356.55 to $6.156.30. Analyst... More

United Tech CEO says ready to 'turn up the heat' on acquisitions

By Lewis Krauskopf

(Reuters) - United Technologies Corp (NYSE: UTX) is ready to "turn up the heat on M&A" now that the U.S. conglomerate has agreed to sell its Sikorsky helicopter business, Chief Executive Greg Hayes said in an... More

RBC Capital Raises Price Target on Lockheed Martin (LMT) Following Early 2Q15 Results and Announced Sikorsky Acquisition

RBC Capital reiterated a Sector Perform rating on Lockheed Martin (NYSE: LMT), and raised the price target to $220.00 (from $206.00), following announced Sikorsky acquisition and 2Q15 results. Analyst Robert Stallard said that LMT reported results one day earlier than planned, but it was a typical quarter, with... More

Lockheed Martin's (LMT) L-T Ratings Placed on Watch Negative by Fitch

Fitch Ratings has placed Lockheed Martin Corporation's (NYSE: LMT) long-term 'A-' ratings on Rating Watch Negative. The action follows LMT's announcement this morning of its agreement to purchase Sikorsky Aircraft from United Technologies ('A'/Outlook Stable) for $9 billion cash. The transaction would be mostly funded with debt. LMT's short-term ratings are not affected by this rating action. Fitch's ratings for LMT cover approximately $9.25 billion of existing debt. A full list of ratings follows at the end of this release.

Fitch's preliminary forecasts indicate that the additional debt from the acquisition, combined with a... More

United Technologies (UTX) to Sell Sikorsky Aircraft Unit in $9B Deal; Approves 75M Common Stock Buyback

United Technologies (NYSE: UTX) announced that it has reached an agreement to sell its Sikorsky Aircraft business to Lockheed Martin Corp. (NYSE: LMT) for $9 billion in cash. The transaction, which is subject to regulatory approvals and customary closing conditions and adjustments, is projected to close by year-end or in the first quarter of 2016. Proceeds from the sale are expected to be used to fund additional share repurchase to offset... More

Lockheed Martin (LMT) Tops Q2 EPS by 27c; Bumps FY15 EPS Outlook Higher

Lockheed Martin (NYSE: LMT) reported Q2 EPS of $2.94, $0.27 better than the analyst estimate of $2.67. Revenue for the quarter came in at $11.6 billion versus the consensus estimate of $11.01 billion.

Lockheed Martin sees FY2015 EPS of $11.00 - $11.30, versus prior guidance of $10.85 - $11.15 and the consensus of... More