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UTX

United Technologies

$126.29

-2.11 (-1.64%)

17:28
05/31/19
05/31
17:28
05/31/19
17:28

United Technologies awarded $3.24B Navy contract modification

United Technologies has been awarded $3.24B for not-to-exceed undefinitized contract modification to a previously awarded advance acquisition contract for the production and delivery of 233 propulsion systems. This modification provides for the production and delivery of 56 F135-PW-100 propulsion systems for the Air Force; 10 F135-PW-100 propulsion systems for the Navy; 24 F135-PW-600 propulsion systems for the Marine Corps; 125 F135-PW-100 and 18 F135-PW-600 propulsion systems for non-Department of Defense, or DoD, participants and foreign military sales, or FMS, customers. Work is expected to be completed in January 2022. FY18 aircraft procurement and FMS funds in the amount of $793.13M will be obligated at time of award, none of which will expire at the end of the fiscal year. This modification combines purchases for the Air Force; Marine Corps; Navy; non-DoD participants and FMS customers. The Naval Air Systems Command is the contracting activity.

UTX United Technologies
$126.29

-2.11 (-1.64%)

04/24/19
RBCM
04/24/19
NO CHANGE
Target $159
RBCM
Sector Perform
United Technologies price target raised to $159 from $149 at RBC Capital
RBC Capital analyst Deane Dray raised his price target on United Technologies to $159 after its Q1 earnings beat driven by "strength in Aero that more than offset weakness in Carrier." The analyst also cites the company increasing the low-end of its FY19 EPS guidance while maintaining the timeline outlook for its spins in the first half of 2020. Dray keeps his Sector Perform rating and believes that United Technologies will trade "mostly range-bound" until the company gets closer to the spins date.
05/10/19
GHSC
05/10/19
INITIATION
GHSC
Neutral
United Technologies initiated with a Neutral at Seaport Global
Seaport Global started United Technologies with a Neutral rating saying the upside/downside risk is balanced at current share levels.
05/10/19
05/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wayfair (W) initiated with a Sell at Berenberg. 2. United Technologies (UTX) initiated with a Neutral at Seaport Global. 3. Alcon (ALC) initiated with an Outperform at Baird. 4. Pinterest (PINS) initiated with a Buy at Nomura Instinet and a Hold at Argus. 5. Reed's (REED) initiated with a Buy at RF Lafferty. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/30/19
COWN
05/30/19
NO CHANGE
COWN
Potential IndiGo engine switch a 'worry' for United Technologies, says Cowen
Cowen analyst Cai von Rumohr maintained a Market Perform rating and $135 price target on United Technologies, but called the Business Standard report that United Technologies' Pratt & Whitney may lose IndiGo's business to CFM International for its LEAP1-A engines a "reputational negative" that "could hurt it in future sales campaigns."

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