United Technologies Corporation (UTC) (NYSE: UTX) is an American multinational conglomerate headquartered in the United Technologies Building in Hartford, Connecticut.[1] It researches, develops, and manufactures high-technology products in numerous areas, including aircraft engines, helicopters, HVAC, fuel cells, elevators and escalators, fire and security, building systems, and industrial products, among others. UTC is also a large military contractor, producing missile systems and military helicopters, most notably the UH-60 Black Hawk helicopter.[2] In 2005, it received over $5 billion in military contracts. Louis R. Chênevert is the current CEO.

United Technologies Corporation (UTC), incorporated in 1934, is a provider of technology products and services to the building systems and aerospace industries worldwide. The Company’s operating units include businesses with operations throughout the world. Otis, Carrier and UTC Fire and Security serve customers in the commercial and residential property industries worldwide. arrier also serves commercial, industrial, transport refrigeration and food service equipment customers. Pratt and Whitney, Hamilton Sundstrand and Sikorsky serve commercial and government customers in both the original equipment and aftermarket parts and services markets of the aerospace industry. Hamilton Sundstrand, Pratt and Whitney and UTC Fire and Security also serve customers in certain industrial markets. During the year ended December 31, 2010, its commercial and industrial sales were approximately 57% of the net sales, and commercial aerospace and military aerospace sales were approximately 22% and 21%, respectively, of net sales. In April 2011, the Company the sale of UTC Fire & Security’s Chubb Security Personnel manned guarding business in the U.K. to an affiliate of Securitas AB.
The prinicipal products and services of each segment are: Otis, elevators, escalators, moving walkways and service; Carrier, heating, ventilating, air conditioning (HVAC) and refrigeration systems, controls, services and energy-efficient products for residential, commercial, industrial and transportation applications; UTC Fire and Security, fire and special hazard detection and suppression systems, firefighting equipment, security, monitoring and rapid response systems and service, and security personnel services; Pratt and Whitney, commercial, military, business jet and general aviation aircraft engines, parts and services, industrial gas turbines, geothermal power systems and space propulsion; Hamilton Sundstrand, aerospace products and aftermarket services, including power generation, management and distribution systems, flight control systems, engine control systems, environmental control systems, fire protection and detection systems, auxiliary power units, propeller systems and industrial products, including air compressors, metering pumps and fluid handling equipment, and Sikorsky, military and commercial helicopters, aftermarket helicopter and aircraft parts and services.
Otis
Otis is an elevator and escalator manufacturing, installation and service company. Otis designs, manufactures, sells and installs a range of passenger and freight elevators for low-, medium- and high-speed applications, as well as a line of escalators and moving walkways. In addition to new equipment, Otis provides modernization products to upgrade elevators and escalators, as well as maintenance and repair services for both its products and those of other manufacturers. Otis serves customers in the commercial and residential property industries around the world. Otis sells directly to the end customer and, to a limited extent, through sales representatives and distributors. Sales generated by Otis’ international operations were 82% of total Otis segment sales during 2010.
Carrier
Carrier is a provider of heating, ventilation and air conditioning (HVAC) and refrigeration solutions, including controls for residential, commercial, industrial and transportation applications. Carrier also provides installation, retrofit and aftermarket services for the products it sells and those of other manufacturers in the HVAC and refrigeration industries. Through its venture with Watsco, Inc., Carrier distributes Carrier, Bryant, Payne and Totaline residential and light commercial HVAC products in the United States and selected territories in the Caribbean and Latin America. Carrier sells directly to end customers and through manufacturers’ representatives, distributors, wholesalers, dealers and retail outlets. Certain of Carrier’s HVAC businesses are seasonal and can be impacted by weather. Carrier customarily offers its customers incentives to purchase products to ensure an adequate supply of its products in the distribution channels. Sales generated by Carrier’s international operations, including the United States export sales, were 56% of total Carrier segment sales during 2010.
UTC Fire and Security
UTC Fire and Security is a provider of security and fire safety products and services. UTC Fire and Security provides electronic security products, such as intruder alarms, access control systems and video surveillance systems and designs and manufactures a range of fire safety products, including specialty hazard detection and fixed suppression products, portable fire extinguishers, fire detection and life safety systems, and other firefighting equipment. Services provided to the electronic security and fire safety industries include systems integration, video surveillance, installation, and maintenance and inspection services. UTC Fire and Security also provides monitoring, response and security personnel services, including cash-in-transit security, to complement its electronic security and fire safety businesses. During 2010, it acquired the GE Security business from General Electric Company.
UTC Fire and Security products and services are used by governments, financial institutions, architects, building owners and developers, security and fire consultants and other end-users requiring a high level of security and fire protection for their businesses and residences. UTC Fire and Security provides its products and services under Chubb, Kidde and other brand names and sells directly to the customer, as well as through manufacturer representatives, distributors, dealers and the United States retail distribution. Sales generated by UTC Fire and Security’s international operations, including the United States export sales, were 84% total UTC Fire and Security segment sales in 2010.
Pratt and Whitney
Pratt and Whitney is a supplier of aircraft engines for the commercial, military, business jet and general aviation markets. Pratt and Whitney Global Services provides maintenance, repair and overhaul services, including the sale of spare parts, as well as fleet management services for large commercial engines. Pratt and Whitney produces families of engines for wide- and narrow-body aircraft in the commercial and military markets. Pratt and Whitney Power Systems sells aero-derivative engines for industrial applications. Pratt and Whitney’s products are sold principally to aircraft manufacturers, airlines and other aircraft operators, aircraft leasing companies, space launch vehicle providers and the United States and foreign governments. Sales generated by Pratt and Whitney’s international operations, including the United States export sales, were 52% of total Pratt and Whitney segment sales during 2010.
Hamilton Sundstrand
Hamilton Sundstrand is a supplier of technologically advanced aerospace and industrial products and aftermarket services for diversified industries worldwide. Hamilton Sundstrand’s aerospace products, such as power generation, management and distribution systems, flight control systems, engine control systems, environmental control systems, fire protection and detection systems, auxiliary power units and propeller systems, serve commercial, military, regional, business and general aviation, as well as military ground vehicle, space and undersea applications. Aftermarket services include spare parts, overhaul and repair, engineering and technical support and fleet maintenance programs. Hamilton Sundstrand sells aerospace products to airframe manufacturers, the United States and foreign governments, aircraft operators and independent distributors. Sales to the United States government were 24% of total Hamilton Sundstrand segment sales during 2010.
Hamilton Sundstrand is engaged in development programs for the Boeing 787 aircraft, the Bombardier CSeries aircraft, the Mitsubishi Regional Jet, the Airbus A350 aircraft, the Irkut MC-21 aircraft, the COMAC C919 aircraft, the Lockheed Martin F-35 Lightning II military aircraft and the Airbus A400M military aircraft. Hamilton Sundstrand is also the operations support prime contractor for National Aeronautics and Space Administration (NASA)’s space suit/life support system and produces environmental monitoring and control, life support, mechanical systems and thermal control systems for the United States space shuttle program, the international space station and the Orion crew exploration vehicle. Hamilton Sundstrand’s industrial products, such as air compressors, metering pumps and fluid handling equipment, serve industries involved with chemical and hydrocarbon processing, oil and gas production, water and wastewater treatment and construction. Hamilton Sundstrand sells these products under the Sullair, Sundyne, Milton Roy and other brand names directly to end users, and through manufacturer representatives and distributors. Sales generated by Hamilton Sundstrand’s international operations, including the United States export sales, were 49% of total Hamilton Sundstrand segment sales during 2010.
Sikorsky
Sikorsky is a helicopter company. Sikorsky manufactures military and commercial helicopters and also provides aftermarket helicopter and aircraft parts and services. Production programs at Sikorsky include the UH-60M Black Hawk medium-transport helicopters and HH-60M Medevac helicopters for the United States and foreign governments, the S-70 Black Hawk for foreign governments, the MH-60S and MH-60R helicopters for the United States Navy, the International Naval Hawk for multiple naval missions, and the S-76 and S-92 helicopters for commercial operations. Sikorsky’s aftermarket business includes spare parts sales, overhaul and repair services, maintenance contracts and logistics support programs for helicopters and other aircraft. Sales are made to the U.S. and foreign governments, and commercial helicopter operators. Sales to the United States government were 68% of total Sikorsky segment sales during 2010.
Other
UTC Power is engaged in the application of fuel cell technology for stationary and transportation applications. UTC Power has delivered more than 280 of its 200 Kilo watts (KW) phosphoric acid fuel cell power plants for stationary installations. In January 2010, it acquired 49.5% equity stake in Clipper Windpower Plc (Clipper). In December 2010, it acquired the remaining shares of Clipper.
The Company competes with GE Aviation, Rolls-Royce, Honeywell and Turbomeca.

The core group of United Technologies companies was founded in 1929 as United Aircraft and Transport Corporation, by the merger of the Boeing Airplane Company, Boeing Air Transport, Chance Vought, Hamilton Standard, Pratt & Whitney, and Sikorsky Aircraft. As a result of the Air Mail Act in 1934, United Aircraft and Transport broke up into three independent companies. UATC's manufacturing interests east of the Mississippi became United Aircraft Corporation, headquartered in Hartford.
Frederick "Fred" Rentschler, who had founded Pratt & Whitney in 1925, became United Aircraft's president, a post he held until his death in 1956. Vought was spun off as an independent business in 1954, but otherwise, United Aircraft maintained its original corporate structure and concentration in the aerospace and defense industries well into the 1970s.
United Aircraft became a component of the Dow Jones Industrial Average on March 4, 1939, when United Aircraft and AT&T were added to replace Nash Motors and International Business Machines. United Aircraft, subsequently known as United Technologies, has remained a component of the Dow Jones Industrial Average since that time.
United Aircraft changed its name to United Technologies on May 1, 1975, and the next year acquired Otis Elevator. In 1979, Carrier Refrigeration and Mostek were acquired; Mostek was sold in 1985 to the French electronics company Thomson. United Technologies acquired Sundstrand Corporation in 1999, and merged it into UTC's Hamilton Standard unit to form Hamilton Sundstrand. Two years later, UTC entered the fire and security business by purchasing Chubb Security, which was followed in 2005 by Kidde. Also in 2005, United Technologies acquired Boeing's Rocketdyne division, which was merged into the Pratt & Whitney business unit.
In 2004, UTC acquired the Schweizer Aircraft Corporation which will operate as a wholly owned subsidiary under their Sikorsky Aircraft division. In 2007, UTC opened the Hawk Works, a Rapid Prototyping and Military Derivatives Completion Center (RPMDCC) located west of the Elmira-Corning Regional Airport in Big Flats, NY.
In March 2008 UTC announced it had made a $2.63 billion bid to acquire Diebold, a Canton, Ohio based manufacturer of banking and voting machines.[6] In September 2008 UTC's chairman commented that the acquisition was less than likely to happen. Diebold has since rejected the $2.63 billion buyout bid. ATM, ballot machine maker calls United Technologies bid inadequate. In April 2010 UTC announced it was investing €15 million ($20 million) to set up the United Technologies Research Centre Ireland in University College Cork which will carry out research on energy and security systems.
On December 9–10, 2009, it was announced that UTC would acquire a 49.5% stake in Carpinteria, CA and London, UK based Clipper Windpower by purchasing 84.3 million new shares and 21.8 million shares from current shareholders for £126.5 million or $206 Million US. Clipper has stated that this equity purchase "will significantly strengthen its balance sheet and enable it to enhance its operations and pursue its strategic initiatives", “This is a transformational transaction for Clipper, bringing substantial capital from a strategic investor who is one of the world’s leading industrial technology companies” said Doug Pertz, President and CEO of Clipper. “We welcome the investment from UTC and their confidence in Clipper’s technology and business opportunities.”.
On Monday 18 October 2010, UTC agreed with Clipper to acquire the rest.


OVERALL
Beta: 1.01
Market Cap (Mil.): $81,440.01
Shares Outstanding (Mil.): 915.26
Annual Dividend: 1.92
Yield (%): 2.16
FINANCIALS
UTX.N Industry Sector
P/E (TTM): 18.09 23.78 18.80
EPS (TTM): 15.09 -- --
ROI: 12.35 4.81 4.19
ROE: 21.47 16.98 7.33

Name Age Since Current Position
Louis Chenevert 53 2010 Chairman of the Board, President, Chief Executive Officer
Gregory Hayes 50 2008 Chief Financial Officer, Senior Vice President
Geraud Darnis 51 2001 President of Carrier Corporation
David Hess 55 2009 President of Pratt & Whitney
Jeffrey Pino 56 2006 President of Sikorsky Aircraft Corporation
Didier Michaud-Daniel 53 2008 President of Otis Elevator Company
Alain Bellemare 49 2009 President of Hamilton Sundstrand Corporation
Scott Buckhout 2011 President of UTC Fire & Security
Charles Gill 46 2007 Senior Vice President, General Counsel
J. Thomas Bowler 58 2007 Senior Vice President - Human Resources and Organization
William Brown 48 2011 Senior Vice President - Corporate Strategy & Development
Thomas Rogan 58 2001 Vice President, Treasurer
Peter Longo 51 2011 Vice President, Controller
Richard McCormick 70 2008 Lead Independent Director
Jean-Pierre Garnier 63 1997 Independent Director
Charles Lee 71 1994 Independent Director
Andre Villeneuve 66 1997 Independent Director
Jamie Gorelick 60 2000 Independent Director
H. Patrick Swygert 68 2001 Independent Director
Christine Whitman 64 2003 Independent Director
Harold McGraw 62 2003 Independent Director
John Faraci 61 2005 Independent Director
Richard Myers 69 2006 Independent Director
Edward Kangas 66 2008 Independent Director
Ellen Kullman 55 2011 Independent Director

COMPANY ADDRESS
United Technologies Corp
One Financial Plaza
Hartford CT 06103
 
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