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Tuesday, October 21, 2014

United Technologies posts broad revenue, order growth, (NYSE: UTX)

United Technologies Corp on Tuesday posted increases in revenue and orders across its aerospace and commercial building segments, helping dispel some concerns about a shaky global economy pressuring its performance.However, the diversified U.S. manufacturer suggested that profit next year could increase at a lower rate than analysts had expected.The maker of Pratt & Whitney jet engines and Otis elevators said third-quarter revenue rose 4.6 percent, while orders increased across its main business segments."Clearly, the world is not ending," United Tech Chief Financial Officer Greg Hayes said in an interview. "What we really saw was organic growth across all of the businesses in all of our regions."

United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries worldwide. Shares of UTX traded higher by 1.7% or $1.7225/share to $103.20. In the past year, the shares have traded as low as $97.30 and as high as $120.66. On average, 4382100 shares of UTX exchange hands on a given day and today's volume is recorded at 6492658.