United Technologies

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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Get insights into United Technologies including business profile, stock information, news, and rankings from Fortune.

United Technologies (UTX): Company Profile, Stock Price, News, Rankings

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United Technologies | Fortune

United Technologies (UTX): Company Profile, Stock Price, News, Rankings | Fortune

As the future the future of urban mobility, the future of basically moving people safely. people haven't trusted us since we invented this industry. And where the future goes is going to be digital. Combined with, again, urban growth, and that's where we're gonna be placed a digital industrial. It's kinda like you're running a 160 year old startup, except that you're starting off with $ 12 billion in revenue. Yeah, it's even more important because a lot of people revenue we have profit and cash. [ LAUGH ] And our vision is we give people, The freedom to connect and thrive in a taller, faster, smarter world. And there's no doubt in my mind that the world will continue to grow taller as more people move to cities and GDP grows. It's certainly faster. All of our lives are. And it's certainly smarter in terms of data. happened and we've been getting ready. It's interesting that Otis has just completed a renovation of the elevators in the Empire State Building. And interestingly that Otis installed and engineered those elevators back in 1931 tell us about how the new technology is changing the elevator business 1931 we installed the original elevators And the Empire State Building has gone through a lot of change. But it is the iconic building in New York City. It's the iconic observatory. It goes up 102 floors and you get a view unmatched anywhere in this world. So we have, over this time, replaced 58 of the elevators. And most importantly, what we've just shown is an all glass cabin and an all glass hoist way. To take people up to have this incredible view of the city on the 102nd floor. But tell us about the technology that now goes into elevators. A lot of people are not aware of how dramatically it has changed. Today's elevators are far more connected. They are far more intelligent, they use artificial intelligence for dispatching algorithms. So we have our campus destination dispatch product. And for anyone who's been in a high rise building and you push a button and it says go to H or go to go to D, it's really given us the ability to increase traffic flow in the same number of voice ways. By 50 %. You mentioned a moment ago about using artificial intelligence AI, but there's also Sensors and biometrics and the internet of things and data analytics. Most people don't think that elevators today are using this kind of technology. What's really important is understanding the data, how many rides are there, how many times does the door open because what that lets us do is have the ability to do preventive maintenance. And when we can do that shutdowns will be avoided will have the ability to send. We have 33, 000 service mechanics around the globe doing over 200, 000 service calls a day. But if we can predict when a parts going to fail, we can go out and fix it in advance. And that way no one gets stuck. No elevators or escalators are down, and that's just better service better uptime and that's what our customers expect. So I understand you're gonna be meeting in February here in New York with Wall Street analysts and investors. What's the message you're going to give them about the new ODIs? Yeah, the message is gonna be pretty simple. It's an incredible, iconic brand. A company that invented this entire industry. And we are back as an independent company with the focus on the investment to become a digital industry. As population grows and cities grow, we grow and so we have a great market thesis and then we are the leader With our scale, with our density, we have the ability to provide services far more productive and show some really great returns for our investors. And so you're gonna be a public company or you're gonna trade on the New York Stock Exchange or the NASDAQ? Yeah, worth going back to the New York Stock Exchange. We started there in 1920, was the first time we're listed Sot and really looking forward in 2020 to becoming a public independent company again. So what's gonna be the tick resemble in 2020? I'm gonna ask you to wait til the investor conference in February and we'll unveil it then. [ BLANK_AUDIO ]

Otis Elevator CEO Leads the Company to Independence and Listing on the NYSE

Finance

The 166-year-old company will soon spin out of United Technologies where it has been a subsidiary for the past four decades. 

Greg, you're in the home stretch of pulling off one of the biggest deals in aerospace history. You're close to becoming the owner of Rockwell Collins. Now how does this $ 30 billion acquisition reshape United Technologies? I've been in the aerospace business 29 years now. We have been talking about Rockwell as the premiere property in aerospace for my entire career. But what Rockwell brings to UTC is something that we just never had before which is the digital cockpit. Rockwell brings a whole different skill set. He's talking about the engineers that know how to do software in the **** pit. They do avionics, they do communications, the do displays, and it gives us the ability with Rockwell to connect the whole airplane now. And to figure out how we can best serve the customers in terms of taking all that data and improving the customer experience. Well, at the same time that all this exciting stuff is going on, you've been telling the investors that you might break up the company. Tell us why? And you're pretty serious about it, too. When you have a $ 12 billion elevator business and a $ 18 billion climate control business, like Carrier They're big enough to stand on their own. And, as we've looked at the universe, I think there's been 74 spins in the last ten years in the US. For the most part, the spin companies do better because of focus. I understand you've been getting pressure from two big- name activist investors, too, Bill Ackman, Daniel Loeb What did they wanna see happen? They wanna see the stock price go up. And it's been going up actually, that just seems to be happy. I think your stocks are like 9 % so far this year. Yeah. So, I think they've obviously seen a return, but. I think both of them, they share my view that focus companies do better over the long term. And so they have not put a lot of pressure on, we've obviously spoken to Mr. Ackman and Mr. Lobe a number of times and their folks. Their whole point though is that UTC, despite it's success. Would probably do better if you had three separate businesses as opposed to one big business and the conglomerate discount that you hear about so much would probably go away. So what do you do to this breakup? How do you see the future of these new individual Companies. Do you think that they will be able to innovate better? Will it be easier for them to make decisions faster, to make decisions easier to recruit some top talent? How do you see it playing out? The speed of decision- making improves, the capital structure can be tailored to their individual business. But also the opportunity for their people is greater. Right? They're gonna grow faster I believe. Faster decision making, a more nimble organization, all of those things can create more opportunities for the people, and more value, I think, for our shareowners. Let's talk about plan B of reinvention. Let's say that you don't break up United Technologies, and here you are, a $ 66 billion company, more than 200, 000 employees, operations in almost 200 companies. What would the future look like for UTC? So I don't think the future would be significantly different than what we see today. I mean, if you think about with Rockwell columns would go from $ 65 to $ 75 billion in sales. We go from 210, 000 to 240, 000 people. There's strength in those numbers, and the financial, strength of the UTC will be unsurpassed. If we decide to stay together, or decide that it makes more sense, I don't think that changes anything. We still want to get out more, we're power people, we want to give people the chance to take risks, to make decisions to improve the customer experience. Mmhmm, but will you do that nimble, innovative company? Well, can you ever be nimble at 240, 000? I think the answer is, you know, is you're as good as you let your people be. You've spent most of your career at this company, and you've been CEO for the last 4 of them. What would you say is the single most important thing that you've had to learn as CEO as the best way to lead a company that's Going through a transformational journey. I mean, how are you reinventing the CEO job? I have tried to people, look, I am not perfect. I will make mistakes. We will make mistakes. And the question is can you learn from them, and can you do better? And I think that's the thing that people wanna see, is not that the CEO is perfect, they wanna see that the CEO is human and that he understands Right, to learn. I've always thought there are some things that are most important in leadership and the first thing is know yourself, know what your strengths are, know what your weaknesses are. And secondly, need an empathy for people. You need to be able to understand where people are coming from because people's motivations are different. And without that empathy, you can't have good leadership. Do you see yourself as the change agent for this 84 year old company? [ LAUGH ] Well I like to think of myself as the propulsion agent behind the change. The fact is the change is not gonna come from me, it's gonna come from everybody within UTC. The fact is what I wanna do is instill people with sense of urgency, to get things done, to move alone quickly, not to ponder decisions but make decisions, make mistakes it's ok. The thing I can do best I think, is instill that sense of urgency. [ BLANK_AUDIO ]

United Technologies Might Break Up After Closing Biggest Aerospace Deal Ever

Leadership

Splitting United Technologies could free up Pratt & Whitney jet engines, Otis elevators, and Carrier air conditioners and boost the stock.

United Technologies

United Technologies stock chart

United Technologies in Fortune Rankings

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