United Technologies Rumored To Sell Compressor Unit
United Technologies (NYSE:UTX) is studying the feasibility of selling its pump and compressor units. The assets are part of Hamilton Sundstrand.
The divestiture is being explored by Goldman Sachs. The deal include all of the compressor products, only some of them, or the deal won’t happen at all.
United is considering this purchase because it is looking to raise money for the proposed $16.5 billion purchase of Goodrich (NYSE:GR). United is also considering the sale of its rocket engine producer Rocketdyne, which would be worth $400 million.
Here is how shares of United Technologies recently traded:
United Technologies Corp. (NYSE:UTX): UTX shares recently traded at $81.74,. They have traded in a 52-week range of $66.87 to $91.83. Volume today was N/A shares versus a 3-month average volume of 4,564,420 shares. The company’s trailing P/E is 14.89, while trailing earnings are $5.49 per share.
To contact the reporter on this story: Scott Gillette at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com