|Bid||119.50 x 1400|
|Ask||0.00 x 1400|
|Day's range||125.97 - 128.33|
|52-week range||109.10 - 139.24|
|PE ratio (TTM)||22.46|
|Earnings date||23 Jul 2018 - 27 Jul 2018|
|Forward dividend & yield||2.80 (2.25%)|
|1y target est||146.69|
Dow defense stocks Boeing and United Technologies soared Monday, boosting the Dow Jones industrial average and aerospace ETFs.
United Technologies' (UTX) Climate, Controls & Security segment enters into a definitive agreement with The Middleby Corporation (MIDD) to sell Taylor Company.
Among the companies with shares expected to trade actively in Monday's session are General Electric, Qualcomm, Starbucks, United Technologies, Tesla and Snap.
Dan Loeb makes a strong case for a breakup, but the stock is a good value for the long term anyway.
Short interest data from April 30 show that Honeywell’s short interest has fallen to its lowest level in 2018, indicating the prevailing positive sentiments for the stock. As of April 30, its short interest as a percentage of outstanding shares was 0.9%, compared to 1.3% on January 12. The decline in HON’s short interest can be mainly attributed to its strong first-quarter earnings that beat analysts’ estimates.
United Technologies is selling the Taylor Co., which produces ice-cream and frozen-drink machines, to Middleby Corp. for $1 billion in cash, as the industrial conglomerate works to sharpen its focus on its core businesses. United Technologies—which owns jet-engine maker Pratt & Whitney, Otis elevators and Carrier air conditioners—said Taylor had been part of its climate, controls and security unit. In 2017, Taylor generated about $315 million of revenue and $65 million of adjusted earnings before interest, taxes and depreciation, according to Middleby.
United Technologies Corp. agreed to sell Taylor Co., a business that specializes in ice-cream dispensing equipment and frozen-drink machines, to Middleby Corp. for $1 billion. The deal enables United Technologies to sharpen the focus in its Carrier Transicold business around transport and commercial refrigeration, according to a statement Friday by the industrial manufacturer. Middleby was drawn by Taylor’s complementary product offerings and heavy presence in top restaurant chains, it said in a separate statement.
Billionaire hedge-fund manager Bill Ackman on Thursday called for a breakup of United Technologies Corp. saying the individual businesses are more likely to trade at fair value as independent companies. Earlier this week, Pershing disclosed in a regulatory filing that it had acquired 1.94 million United Tech shares in the first quarter, along with an investment in an as-yet unnamed company.
Bill Ackman's Pershing Square revealed in a regulatory filing it bought nearly 2 million shares of United Technologies in the first quarter.
Activist investor Dan Loeb's Third Point LLC acquired stakes in embattled Wynn Resorts Ltd. and United Technologies Corp. during the second quarter, according to regulatory filings on Tuesday. Hedge fund Third Point showed that it bought 7.1 million shares of United Tech worth about $893 million and 1.54 million shares of Wynn for about $280 million, according to filing tracker Whalewisdom.com. Meanwhile, Loeb sold his entire roughly 1.9 million share position in health-care provider Aetna Inc. , and increased his stake in Facebook Inc. to 4 million shares, adding 600,000 shares in the first three months of the year, according to filings.
The calls for a United Technologies Corp. breakup are getting louder. Activist investor Bill Ackman backed the idea Tuesday as his Pershing Square Capital Management detailed a $245 million stake in the maker of jet engines, elevators and air conditioners. United Technologies “is one of the last remaining conglomerates,” Ackman said during a conference call.
On May 8, Sonatrach, the largest company in Algeria, said that it would use Honeywell’s (HON) UOP technology to expand its Skikda refinery on the Eastern Mediterranean coast of Algeria. As per the agreement, Honeywell will provide licenses, basic engineering design, and other services for the 81,000-barrel-per-day UOP Unicracking unit.
On March 31, Boeing (BA) had cash and cash equivalents of $9.2 billion, up ~$400.0 million from $8.2 billion on December 31, 2017. The aircraft manufacturer has paid cash dividends on common stock every year since 1942. FCF (free cash flow) is calculated by subtracting capital expenditure from operating cash flows.
Jim Cramer and technician Bob Lang inspect some industrials' stock charts to see if their shares can still surge higher.
KLX Inc. (KLX) was a part of B/E Aerospace, which manufactures aircraft passenger cabin interior products. B/E Aerospace caters to almost all of the airlines, leasing companies, and airplane manufacturers (IYJ) worldwide.
"I'm the product of my parents' dreams and aspirations," says Jensen Huang, co-founder of chipmaking powerhouse Nvidia.
Boeing (BA) announced last week that it would acquire KLX (KLXI), whose products include airplane parts, for about $3.2 billion plus debt. The deal is part of the aircraft manufacturer’s long-term plan to bolster its presence in parts, components, and services—lucrative aviation niches that would make it less dependent on building airplanes. Watching these moves very carefully has been United Technologies (UTX), a longtime supplier to Boeing and other air-framers.
Activist investor Third Point LLC detailed its case for breaking up industrial conglomerate United Technologies Corp., and said it has shared its views with the company’s board. The idea of a breakup gathered momentum around September when United Technologies agreed to buy Rockwell Collins for $23 billion. United Technologies owns one of the world’s biggest jet-engine makers, Pratt & Whitney, along with Otis elevators and Carrier air conditioners, and the conglomerate and Third Point are talking in similar terms about a possible breakup.
United Technologies pushed back after an activist investor said a split of the underperforming industrial giant would release billions in shareholder value.
Activist investor Third Point LLC, led by Dan Loeb, for the first time detailed its motivation for investing in United Technologies and called on the company to split itself into three companies focused on climate controls, elevators and aerospace. This is starting to get aggravating for some followers of the company, and perhaps Third Point is one of them. United Technologies' business units have different capital requirements, growth profiles and debt capacities.
BOSTON/NEW YORK (Reuters) - Billionaire investor Daniel Loeb's Third Point on Friday urged United Technologies Corp (UTX.N) to move more forcefully in pursuing a breakup into three businesses, arguing this could unlock $20 billion in value. The New York-based hedge fund, which owns a $1-billion stake in the Connecticut conglomerate, signalled to its clients that it would step up pressure on the board and management to follow through on promises to review the company's future. Loeb wants the company to split into three businesses: the Climate, Controls & Security division, Otis elevators, and an aerospace company (“Aerospace RemainCo”) encompassing UTAS and Pratt & Whitney.
Dan Loeb's Third Point wants United Technologies to split into three companies, according to a letter from the hedge fund Friday.
Third Point, the activist fund led by Dan Loeb, is calling for United Technologies Corp. to break apart, saying the conglomerate structure has led to poor management and share losses at the maker of jet engines, elevators and air conditioners. Splitting up would unlock more than $20 billion in shareholder value, Third Point said in a letter to investors. Loeb’s firm said in the letter that it took “a significant stake” in United Technologies in late 2017.
This is especially true of those who just moved into the stock market in late 2017 or early 2018. The day's numbers are displayed after the closing bell of the Dow Industrial Average at the New York Stock Exchange on May 3, 2018 in New York. Each month, I look at where the 30 Dow stocks closed the month in relation to their starc bands. When a stock or ETF closes near its upper starc band (starc+), it is considered to be a high-risk buy and therefore overbought.