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RAYTHEON TECHNOLOGIES CORPORATION

(RTX)
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Delayed Nyse  -  04:00 2022-12-08 pm EST
99.49 USD   +0.45%
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United Technologies Corporation : United Technologies to sell Pump and Engine Control Systems unit

01/18/2013 | 01:08pm EST

January 18, 2013

United Technologies to sell Pump and Engine Control Systems unit

HARTFORD, Conn. - United Technologies Corp. (NYSE: UTX) today announced it has reached agreement to sell the former Goodrich Corporation pump and engine control systems business to Triumph Group, Inc. (NYSE: TGI). The transaction is subject to regulatory approvals and customary closing conditions. Closing is expected in the first quarter of 2013.

Sale of the pump and engine control systems unit was one of the divestitures required by regulatory authorities as a condition of UTC's acquisition of Goodrich Corporation.

United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.

This release includes "forward looking statements" concerning several proposed transactions, their anticipated financial and business impact, and management's beliefs and objectives with respect thereto, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "confident" and other words of similar meaning in connection with a discussion of future operating or financial performance. It is uncertain whether the events anticipated will transpire, or if they do occur what impact they will have on the results of operations and financial condition of UTC. These forward looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including but not limited to the ability of the parties to satisfy the conditions precedent and consummate the proposed transactions, the timing of consummation of the proposed transactions, and the ability of the parties to secure regulatory approvals in a timely manner or on the terms desired or anticipated. Other important economic, political, regulatory, legal, technological, competitive and other uncertainties are identified in the SEC filings submitted by UTC and Goodrich from time to time, including their respective Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K, and Current Reports on Form 8-K. The forward looking statements included in this press release are made only as of the date hereof. UTC does not undertake any obligation to update the forward looking statements to reflect subsequent events or circumstances.

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Financials (USD)
Sales 2022 67 186 M - -
Net income 2022 5 546 M - -
Net Debt 2022 26 070 M - -
P/E ratio 2022 27,3x
Yield 2022 2,16%
Capitalization 146 B 146 B -
EV / Sales 2022 2,57x
EV / Sales 2023 2,38x
Nbr of Employees 174 000
Free-Float 87,2%
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Number of Analysts 23
Last Close Price 99,49 $
Average target price 104,51 $
Spread / Average Target 5,04%
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Managers and Directors
Gregory J. Hayes Chairman, President & Chief Executive Officer
Neil G. Mitchill Chief Financial Officer
Mark E. Russell Head-Technology & Global Engineering
Christopher T. Calio Chief Operating Officer
Robin Diamonte Chief Investment Officer
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