CEO Gregory Hayes, who took charge when Louis Chenevert abruptly departed in late 2014, shrewdly unloaded helicopter-maker Sikorsky to Lockheed Martin in December for $9 billion, just before the oil slump pummeled sales for offshore platforms. The drop in UT’s share price early last year triggered a $90 billion takeover bid from Honeywell. Hayes rebuffed Honeywell, and his three year, $1.5 billion cost-cutting plan has helped revive UT’s stock. The slowdown in China is curbing revenues at the UT’s Otis unit. But sales of jet engine parts at Pratt & Whitney, a high-margin business, are thriving. And UT’s innovative, super-energy-efficient Geared Turbofan engine is taking flight on the new Airbus A320neo. On the political front, UTX is drawing flak from Donald Trump for shuttering two air conditioner plants in Indiana, and moving production to Mexico.
News about United Technologies
The special Sino Saturday edition of CEO Daily.
American consumers have the most to lose with price hikes.
Splitting United Technologies could free up Pratt & Whitney jet engines, Otis elevators, and Carrier air conditioners and boost the stock.
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Videos about United Technologies
CEO Greg Hayes says President Trump's tariffs are "very short-sighted" and "not a very informed view".