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Wednesday, March 11, 2015

UTC to weigh split off of Sikorsky helicopter unit, (NYQ: UTX)

United Technologies Corp will explore strategic options to split off its Sikorsky helicopter unit, including a potential spinoff into a standalone company, the U.S. manufacturer said. The company's board authorized the review, which also could include a sale of the maker of Black Hawk helicopters. The review is expected to finish before the end of the year.

United Technologies Corporation provides high technology products and services to the building systems and aerospace industries worldwide. Shares of UTX traded higher by 0.8% or $0.94/share to $118.34. In the past year, the shares have traded as low as $97.30 and as high as $124.45. On average, 3932070 shares of UTX exchange hands on a given day and today's volume is recorded at 3747890.