United Technologies 技術分析 - United Technologies 交易: 2019-06-13

United Technologies Corporation is an American multinational conglomerate with sales of $66.5 billion in 2018, up 11% over prior year. Over the weekend the company announced plans to merge with defense major Raytheon. Earlier in December it announced plans to break up into one company owning Otis elevators, another making Carrier air conditioners, and a third producing engines for F-35 fighter jets. Merging the areo-space unit with Raytheon will create a mega aerospace and defense company with $63 billion in annual sales, second only to Boeing. Proponents of such a merger estimate it could yield cost savings of as much as $1 billion a year. And the price-to-sales (P/S) ratio of the new company is forecast to be about 1.6 -- cheaper than Boeing's 2.0 P/S ratio, cheaper than the 1.9 times sales that Raytheon stock costs right now, and about the same as UTC's current 1.6-times-sales valuation. However, President Trump sounded not much in favor of such a merger, commenting “I’m a little concerned about United Technologies and Raytheon.” Shares of United Technologies fell 3.1% after the company announced the all-stock deal. In the first-quarter earnings report the company warned earnings may decline this year with the Boeing 737 Max on hold. While earnings climbed to $1.91 a share in the first quarter, United Technologies forecast the Boeing 737 Max groundings could shave as much as 10 cents off earnings per share this year, if the airplane maker maintains a sharp production cut through year-end. Extended Boeing production cut is negative risk for United Technology stock price.