United Technologies To Explore Possible Spinoff of Sikorsky Aircraft Business (UTX)
Shauna O'Brien Mar 12, 2015
On Wednesday evening, United Technologies (UTX ) announced that it is exploring alternative options for its Sikorsky Aircraft division.
The company said that it will conduct a strategic review of the division in 2015. UTX also noted that no time table has been set for the review, and it is not guaranteed that any alternative options will be decided on.
UTX’s CEO noted that the review will determine if a spin off “would allow United Technologies to better focus on providing high-technology systems and services to the aerospace and building industries.”
The company will give more details on its plan at its annual meeting.
The Bottom Line
Shares of UTX were up $2.36, or 1.99% during premarket trading Thursday. The stock is up 2.9% YTD.
United Technologies (UTX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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