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Monday, January 27, 2014

United Technologies mulling Sikorsky unit options - report, (NYSE: UTX)

Diversified manufacturer United Technologies Corp is weighing options for its Sikorsky helicopter unit, including a potential sale or spinoff, industry publication Defense News reported on Monday, citing unnamed sources.United Technologies shares were up 2 percent in afternoon trading, against relatively flat U.S. markets.According to the report, Sikorsky, which manufactures the Black Hawk military helicopter, among others, could be a target for European companies seeking to enter the U.S. market.A United Technologies spokesman said the company does not comment on market rumors.

United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries worldwide. Shares of UTX traded higher by 2.25% or $2.51/share to $114.31. In the past year, the shares have traded as low as $87.57 and as high as $118.20. On average, 2784790 shares of UTX exchange hands on a given day and today's volume is recorded at 5267769.