United Technologies Corporation

United Technologies Corporation

United Technologies Corporation

Overview
Date Founded

1934

Headquarters

United Technologies Building,10 Farm Springs Road,Farmington, CT 06032

Type of Company

Public

Employees (Worldwide)

205K

Industries

Industrial Machinery & Manufacturing
Other Transportation
Other Manufacturing
Aerospace & Defense
Industrial Conglomerates

Company Description

United Technologies (UTC) is a diversified company that provides a broad range of high-technology products and services to the global aerospace and building systems industries. Our commercial businesses are Otis elevators and escalators and UTC Climate, Controls & Security, a leading provider of heating, ventilation, air conditioning, fire and security systems, building automation and controls. Our aerospace businesses are Sikorsky aircraft and the new UTC Propulsion & Aerospace Systems, which includes Pratt & Whitney aircraft engines and UTC Aerospace Systems aerospace products. The company also operates a central research organization that pursues technologies for improving the performance, energy efficiency and cost of UTC products and processes.

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Executives & Employees

President, Chief Executive Officer & Chairman of the Board

Associate General Counsel & Assistant Secretary

Chief Financial Officer & Executive Vice President

Executive Vice President & General Counsel

Senior Vice President & Chief Technology Officer

Chief Accounting Officer & Controller

Executive Vice President & Chief Human Resources Officer

Senior Vice President & Chief Communications Officer

President, Pratt & Whitney

President, UTC Climate, Controls & Security

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Board of Directors

President, Chief Executive Officer & Chairman of the Board at United Technologies Corporation

Chief Executive Officer at EKC Technology, Inc.

Former Chairman, President & Chief Executive Officer at Goodrich Corp.

Senior Advisor at BC Partners, Inc.

Former Chief Executive Officer at International Paper Co.

Operating Partner at Advent International Corp.

Former Vice Chief of Staff at United States Army

Former Governor of New Jersey

Director, Geopolitics of Energy Project at Harvard University - John F. Kennedy School of Government

Chief Operating Officer, Google Cloud at Google, Inc.

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United Technologies Corporation
Owners & Shareholders
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SSgA Funds Management (SSgA FM) uses quantitative methods, as well as an industry-specific bottom-up investment approach to select stocks. The firm's mutual funds and institutional portfolios follow the same management style. They offer a broad range of strategies including: Active, Enhanced, and Passive Equity; Active & Passive Debt; Cash Management; Multi-Asset Class Solutions; Real Estate (including Direct Real Estate); Senior Loans; Managed Futures; and Private Equity. cash and real estate. ^The firm's Active, Enhanced & Passive are designed to outperform relative to benchmarks while maintaining appropriate risk exposure. Active equity strategies include enhanced equity and active quantitative strategies. The strategies cover market-cap and style segments of the market including: large-cap core, large-cap growth, large-cap value, mid-cap, small-cap, small-cap value, all-cap, and long-short equity. They also manage long-short and long-short market neutral strategies.SSgA FM's Active & Passive Debt strategies seek to meet clients’ objectives by controlling risk, while diversifying sources of excess return. The firm offers a range of investment styles from passive to active, short to long duration, tax-exempt, sovereign to high yield, and single country to global. The strategies typically use a stratified sampling methodology to build portfolios with the same characteristics as the index using quantitative and fundamental methods.^SSgA FM's cash strategies seek to generate current income while preserving capital and liquidity by investing in diversified portfolios of short-term securities.SSgA FM's Multi-Asset Class strategies employ an asset allocation model as means of diversification and seeks to position assets among major investment categories. The goal is to manage risk and enhance returns.SSgA FM is an advisor to funds that employ both passive and actively managed REITs investing strategies. They also offer direct real estate investment strategies.SSgA FM is an advisor to a fund that employs senior loan investing strategies. An unaffiliated sub-advisor directs the investments of the fund. SSgA FM's Managed Futures strategy allocates assets using two approaches: a managed futures strategy and a fixed income strategy. The managed futures strategy seeks to capture returns tied to global macroeconomic trends in the commodity futures markets, taking both long and short positions. The fixed income strategy is designed to generate interest income and capital appreciation to add diversification to the returns generated by the managed futures strategy.SSgA FM's Private Equity strategies focus on rigorous partner selection, thorough evaluation of quality investment opportunities, and fundamental, research-driven research. The strategies make direct or co-investments across sectors, as well as fund investments.

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MFS Investment Management offers a wide variety of investment styles that combine both fundamental and quantitative research and a bottom-up security selection process. The firm manages more than 60 US mutual fund portfolios that offer domestic and international stock and fixed-income strategies across the full risk spectrum for US investors. They offer separately managed accounts for high net-worth individuals. MFS also offers an array of investment options for insurance companies' separate accounts. Insurance companies can utilize the firm's investment management and services for variable annuity, variable life and group pension products. MFS offers separate account portfolio management for institutional investors worldwide. They manage equity and fixed-income assets for public pension plans, corporate pension plans, bank trust clients, insurance companies, endowments and foundations, individual, multi-employer plans and investment advisory firms.

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Barrow, Hanley, Mewhinney & Strauss has a strict definition of value. Our equity portfolios exhibit below-market price-to-earnings ratios, below-market price-to-book ratios, and above-market dividend yields, regardless of market conditions. As a result, each of our clients is assured that we will do our part to maintain the style integrity of their overall portfolio. In fixed income, we define value as temporarily mispriced securities with yield-to-maturity advantages over Treasury bonds of comparable maturity. We identify each opportunity from the bottom up, building a duration-neutral portfolio designed to "out-yield" the market. In this way, Barrow Hanley seeks to achieve higher total returns for our fixed income clients with below-benchmark volatility. Mutual Fund Sub-Advisory Services Stability of investment team, strict adherence to style and uniformity of process are hallmarks of Barrow Hanley. Through an investment in a Barrow Hanley sub-advised mutual fund, individual investors are able to access the research-driven, bottom-up approach to active security selection that is utilized by major pension plans, foundations and endowments, and other institutional investors worldwide. Barrow Hanley currently serves as a sub-advisor to more than 30 equity and fixed income mutual funds. In addition to sub-advising an array of nationally-recognized mutual funds in the U.S., we sub-advise a number of internationally-based funds.

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Recent Transactions
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The Sterling Group LP, Safe Fleet Acquisition Corp. purchase Interlogix /MobileView Business from United Technologies Corporation

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United Technologies Corporation, Elevadores Otis Ltda. purchase Melco Elevadores do Brasil SA from Mitsubishi Electric Corp.

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United Technologies Corporation purchases Rockwell Collins, Inc.

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Insider Transactions
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Transaction Advisors
Legal Advisor

Advised onUnited Technologies Corporation purchases Rockwell Collins, Inc.

Auditor

Advised onUnited Technologies Corporation issued Common Stock

Legal Advisor

Advised onUnited Technologies Corporation purchases Goodrich Corp.

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Legal Advisor

Advised onUnited Technologies Corporation purchases Rockwell Collins, Inc.

Legal Advisor

Advised onUnited Technologies Corporation purchases Goodrich Corp.

Head, Mergers & Acquisitions-Americas

Advised onUnited Technologies Corporation purchases UTC Fire & Security Americas Corp., Inc. from General Electric Company

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Advisors & Consultants
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Consultant

Director, President & Chief Executive Officer at Bombardier, Inc.

Real Estate Agent

Partner, International at Newmark Knight Frank

Legal Advisor

Partner at Davis Polk & Wardwell LLP

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Clients

Lockheed Martin Corp. engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following segments: Aeronautics, Missiles & Fire Control, Rotary & Mission Systems, and Space Systems. The Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of advanced military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies. The Missiles & Fire Control segment provides air and missile defense systems; tactical missiles and air-to-ground precision strike weapon systems; logistics; fire control systems; mission operations support, readiness, engineering support and integration services; manned and unmanned ground vehicles, and energy management solutions. The Rotary & Mission Systems segment provides design, manufacture, service and support for a variety of military and commercial helicopters; ship and submarine mission and combat systems; mission systems and sensors for rotary and fixed-wing aircraft; sea and land-based missile defense systems; radar systems; the Littoral Combat Ship (LCS); simulation and training services; and unmanned systems and technologies. The Space Systems segment engaged in the research and development, design, engineering and production of satellites, strategic and defensive missile systems and space transportation systems and it also provides network-enabled situational awareness and integrates complex global systems to help customers gather, analyze and securely distribute critical intelligence data. The company was founded in March 1995 and is headquartered in Bethesda, MD.

General Dynamics is a market leader in business aviation; combat vehicles, weapons systems and munitions; shipbuilding and marine systems; and mission-critical information systems and technology. The company was formed in 1952 through the combination of the Electric Boat Company, Consolidated Vultee (CONVAIR) and several others. The company grew organically and through acquisitions until the early 1990s, when they sold many of our defense-related businesses. Starting in the mid-1990s, they began expanding by acquiring combat vehicle-related businesses, additional shipyards, information-technology product and service companies and Gulfstream Aerospace Corporation.

Carnival Corp. engages in the operation of luxury cruises ships. It operates through the following segments: North America, EAA, Cruise Support, and Tour and Other. The North America segment includes Carnival Cruise Line, Holland America Line, Princess, and Seabourn. The EAA segment comprises of AIDA, Costa, Cunard, P&O Cruises (Australia), P&O Cruises (UK). The Cruise Support segment represents port and related facilities and other services that are provided for the benefit of its cruise brands. The Tour and Other segment comprises of hotel and transportation operations of Holland America Princess Alaska Tours. The company was founded in 1972 and is headquartered in Miami, FL.

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Key Stats and Financials As of 2017
Market Capitalization
$103B
Total Enterprise Value
$122B
Earnings Per Share
$5.7
Revenue
$59.8B
Net Profit
$4.55B
EBITDA
$9.67B
EBITDAMargin
16.17%
Total Debt
$27.5B
Total Equity
$31.6B
Enterprise Value Sales
2.05x
Enterprise Value EBITDAOperating
12.66x
TEVNet Income
26.89x
Debt TEV
0.22x
Three Year Compounded Annual Growth Rate Of Revenue
-2.84%
Five Year Compounded Annual Growth Rate Of Revenue
0.72%
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Non-Profit Donations & Grants
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Political Donations
$1,000
2014
$2,000
2014
$5,000
2014
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Political Donations Received
$1,000
2014
$2,000
2014
$5,000
2014
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Investments
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Advanced Military Maintenance, Repair & Overhaul Center LLC manages a military maintenance, repair and overhaul center. It delivers aircraft maintenance and support services to the United Arab Emirates armed forces and other military operators throughout the Middle East and North Africa region. The company was founded in 2010 and is Headquartered in Abu Dhabi, the United Arab Emirates

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An RFID industry veteran working with world-class client organizations since 2003, Rush Tracking Systems serves as a trusted RFID advisor, with the experience and integrity to recommend, build and deliver the right tracking solutions to meet client business needs. Rush Tracking Systems offers unsurpassed RFID technical expertise coupled with a consultative business approach, and excels at helping clients achieve the greatest business value from RFID technologies.The company has proven expertise in consumer packaged goods, retail, industrial manufacturing, aerospace and defense, automotive, pharmaceutical and petrochemical industries. Headquartered in Kansas City, Kansas, Rush Tracking Systems has achieved a compound annual growth rate of more than 130% since 2003.

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SolarReserve, Inc. develops utility-scale solar power projects and advanced solar thermal technology. It offers utility and mining industry, energy infrastructure asset investors, commercial and industrial solar for South Africa. The company was founded by Terry Murphy in 2007 and is headquartered in Santa Monica, CA.

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Suppliers
Ducommun, Inc. Commercial Scientific Research | Carson, CA

Founded in 1849, Ducommun Incorporated is the oldest company in California. Evolving from a hardware supply store opened by Charles Ducommun in Los Angeles during the California Gold Rush, the company assisted in the birth of the aerospace industry in Southern California by providing aircraft aluminum to companies such as Lockheed. Today, Ducommun is a leading provider of engineering and manufacturing services for high-cost-of-failure applications in diverse markets, including aerospace, defense, industrial, oil-and-gas, mining and medical. Ducommun provides its customers with custom, high-reliability solutions for their electronic and aircraft structure needs. The company draws upon best-in-class processes, a continuous improvement culture and a passionate commitment to excellence to deliver quality in everything it does. Ducommun operates through three business units: Ducommun AeroStructures (DAS) is a manufacturing services company supplying a wide variety of composite and metal bond structures and assemblies, including aircraft wing spoilers, large fuselage skins, helicopter blades, flight control surfaces and engine components, to a global customer base. The company also designs, engineers and manufactures the largest, most complex contoured aluminum, titanium and Inconel® aerostructure components in the aerospace industry today. Ducommun’s integrated processes include stretch-forming, thermal-forming, Ti SPF and hot forming, chemical milling, precision fabrication, machining, and finishing, as well as integrating components into subassemblies. Ducommun AeroStructures serves the full spectrum of commercial and military aerospace end markets, including commercial airliners, regional and business jet aircraft, military aircraft, commercial and military helicopters, satellites and space launch vehicles. The company has operations in California, Kansas, New York and Mexico. Ducommun LaBarge Technologies (DLT) is a leading provider of electronics manufacturing services, including the design and manufacture of complex cable assemblies and interconnect systems, printed circuit board assemblies, and higher-level electronic, electromechanical and mechanical assemblies for diverse, high-reliability applications. Ducommun LaBarge is also a leading supplier of electromechanical illuminated push button switches for the aerospace industry, microwave switches and components for the aerospace and wireless communications industries, and engineering, technical and program management services principally for the aerospace industry. Ducommun LaBarge Technologies serves a variety of end markets, including defense, aerospace, industrial, oil-and-gas, mining and medical. The company has operations in Arizona, Arkansas, California, Missouri, Oklahoma, Pennsylvania, Texas, Wisconsin and Thailand. Ducommun Miltec is an engineering services company engaged in missile and aerospace system design, development, integration, and test. The company proactively leverages the knowledge base, capabilities, talent, and technologies of this focused market into NASA and commercial ventures. Ducommun Miltec's primary customer base consists of the US Army Space and Missile Defense Command (SMDC) and the Aviation and Missile Command (AMCOM), with additional major customers including the Missile and Space Intelligence Center (MSIC), the US Navy, and NASA Marshall Space Flight Center (MSFC). As an integrator, Miltec provides extensive in-house engineering capabilities in all applicable areas related to defense/aerospace systems. These areas include, but are not limited to, systems, aerodynamics, propulsion, guidance-navigation-and control (GNC), lethality/warheads, simulation, avionics, structures, software, IMUs, seeker/sensors, and signal processing. The company has operations in Alabama, Colorado, and Mississippi.

Esterline Technologies Corp. Electrical Products | Bellevue, WA

Esterline Technologies Corp. engages in the manufacture of aircraft parts and components, automated drilling products and machine tool systems. It operates through the following segments: Avionics & Controls; Sensors & Systems; and Advanced Materials. The Avionics & Controls segment includes avionics systems, control systems, interface technologies and communication systems capabilities. The Sensors & Systems segment includes power systems, connection technologies and advanced sensors capabilities. The Advanced Materials segment includes engineered materials and defense technologies capabilities. The company also develops and manufactures combustible ordnance and countermeasures for military applications. Esterline Technologies was founded in 1967 and is headquartered in Bellevue, WA.

Hexcel Corp. Industrial Machinery & Manufacturing | Wilmington, DE

Hexcel Corp. engages in the development, manufacture, and market of advanced composite materials for the commercial aerospace, space and defense, and industrial markets. It operates through the following segments: Composite Materials, and Engineered Products. The Composite Materials segment is comprised of carbon fiber, specialty reinforcements, resins, prepregs and other fiber-reinforced matrix materials, and honeycomb core products line. The Engineered Products segment is consist of lightweight high strength composite structure, molded components, engineered core, and honeycomb products with added functionality. The company was founded by Roger C. Steele and Roscoe T. Hughes in 1946 and is headquartered in Stamford, CT.

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Competitors
General Electric Company Power & Utilities - CINCINNATI, OH

General Electric Co. is a technology and financial services company that develops and manufactures products for the generation, transmission, distribution, control and utilization of electricity. Its products and services include aircraft engines, power generation, water processing, security technology, medical imaging, business and consumer financing, media content and industrial products. The company operates through eight segments: Power, Oil & Gas, Aviation, Healthcare, Transportation, Appliances & Lighting and GE Capital. The Power segment serves power generation, industrial, government and other customers worldwide with products and services related to energy production. The Oil & Gas segment supplies mission critical equipment for the global oil and gas industry, used in applications spanning the entire value chain from drilling and completion through production, liquefied natural gas and pipeline compression, pipeline inspection, and downstream processing in refineries and petrochemical plants. The Aviation segment products and services include jet engines, aerospace systems and equipment, replacement parts and repair and maintenance services for all categories of commercial aircraft; for a wide variety of military aircraft, including fighters, bombers, tankers and helicopters; for marine applications; and for executive and regional aircraft. The Healthcare segment products include diagnostic imaging systems such as magnetic resonance, computed tomography and positron emission Tomography scanners, X-ray, nuclear imaging, digital mammography and molecular imaging technologies. The Transportation segment engages in global technology and supplier to the railroad, mining, marine and drilling industries. The Appliances & Lighting segment products include major appliances and related services for products such as refrigerators, freezers, electric and gas ranges, cooktops, dishwashers, clothes washers and dryers, microwave ovens, room air conditioners, residential water systems for filtration, softening and heating, and hybrid water heaters. The GE Capital segment offers financial services and products worldwide for businesses of all sizes, services include commercial loans and leases, fleet management, financial programs, credit cards, personal loans and other financial services. The company was founded by Thomas A. Edison in 1878 and is headquartered in Boston, MA.

Honeywell International, Inc. Aerospace & Defense - MORRISTOWN, NJ

Honeywell is a Fortune 100 company that invents and manufactures technologies to address tough challenges linked to global macrotrends such as safety, security, and energy. With approximately 132,000 employees worldwide, including more than 19,000 engineers and scientists, we have an unrelenting focus on quality, delivery, value, and technology in everything we make and do.

SAFRAN Group Aerospace & Defense - Paris, IF

Safran SA engages in the design, manufacture, and sale of aircraft, defense and communication equipment and technologies. It operates through the following segments: Aerospace Propulsion, Aircraft Equipment, Defence, Security, and Holding Company and Other. The Aerospace Propulsion segment designs, develops, produces, and markets propulsion systems for commercial aircraft, military transport, training and combat aircraft, rocket engines, civil and military helicopters, tactical missiles and drones. The Aircraft Equipment segment specializes in mechanical, hydromechanical and electromechanical equipment. The Defence segment includes all businesses serving naval, land, and aviation defence industries. The Security segment provides solutions developed by Group to increase the safety and security of travel, critical infrastructure, electronic transactions, and individuals. The Holding Company and Other segment handles the company's activities and holding companies in various countries. The company was founded on August 16, 1924 and is headquartered in Paris, France.

Awards & Honors
Rank #45
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #45
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine