United Tech CEO says ready to 'turn up the heat' on acquisitions
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RBC Capital Cuts Price Target to $114 Following United Technologies (UTX) 2Q EPS Beat
July 22, 2015 7:40 AM EDTRBC 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 Technologies (UTX) Tops Q2 EPS by 2c; Cuts FY15 Outlook
July 21, 2015 6:59 AM EDTUnited Technologies (NYSE: UTX) reported Q2 EPS of $1.73, $0.02 better than the analyst estimate of $1.71. Revenue for the quarter came in at $16.3 billion versus the consensus estimate of $16.52 billion.
As announced yesterday, UTC has reached an agreement to sell Sikorsky to Lockheed Martin for $9... More
With Sikorsky sale done, United Technologies eyes acquisitions
July 20, 2015 5:40 PM EDTBy Lewis Krauskopf
(Reuters) - Now that United Technologies Corp (NYSE: UTX) Chief Executive Greg Hayes has closed a deal to sell the conglomerate's Sikorsky helicopter unit, he may become an acquirer in his own right.
United Tech shares slipped 0.7 percent on Monday after news of the $9 billion sale to Lockheed Martin Inc became official.
Even though analysts applauded the price, investors may have already incorporated the benefits from splitting off the lower-margin business, a move United Tech had been signaling for months.
Also, United Tech, which reports earnings on... More
United Technologies (UTX) to Sell Sikorsky Aircraft Unit in $9B Deal; Approves 75M Common Stock Buyback
July 20, 2015 7:35 AM EDTUnited 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) to Acquire Sikorsky in $9B Deal (UTX)
July 20, 2015 7:31 AM EDTLockheed Martin (NYSE: LMT) has entered into a definitive agreement to acquire Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft, for $9.0 billion. The price is effectively reduced to approximately $7.1 billion, after taking into account tax benefits resulting from the transaction.
"Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defense products and technologies," said Marillyn Hewson, Lockheed Martin chairman, president and CEO. "I'm confident this acquisition will help us extend our core business into the growing areas of helicopter production and... More
