United Technologies (NYSE:UTX) is a bellwether tech and aerospace blue chip name. It has served investors well, rising some 50 percent in two years. The company provides technology products and services to the building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs a range of passenger and freight elevators, escalators, and moving walkways. The company’s UTC Climate, Controls, and Security segment provides heating, ventilating, air conditioning, and refrigeration solutions, such as controls for residential, commercial, industrial, and transportation applications.
It also offers electronic security products, including intruder alarms, access control systems, and video surveillance systems. Its Pratt & Whitney segment supplies aircraft engines for commercial, military, business jet, and general aviation markets, as well as provides fleet management services for commercial engines.
The company’s UTC Aerospace Systems segment supplies aerospace products, including electric power generation, management and distribution systems, flight control systems, engine control systems, intelligence, surveillance and reconnaissance systems, engine components, environmental control systems, fire protection and detection systems, propeller systems, aircraft nacelles, and interior, actuation, landing and electronic systems. Finally, its Sikorsky segment manufactures military and commercial helicopters, as well as provides aftermarket helicopter and aircraft parts and services.
Now that we have a fundamental understanding of what the company does, how effective has it been and is the stock worth buying on the present pullback? Well, United Technologies reported second-quarter earnings per share of $1.84 and net income attributable to common shareholders of $1.7 billion, both up 8 percent over the year-ago quarter. Excluding special charges, earnings per share increased 12 percent year over year.