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United Technologies: Well Positioned For A Recovery In Defense Spending

UTX won a new defense contract in its Pratt & Whitney division.

Signs point to a recovery in global defense spending over the next three years.

UTX will benefit from some favorable trends.

United Technologies (NYSE:UTX) announced that its Pratt & Whitney division was awarded a $1.5 billion contract from the Department of Defense to build more engines for its F-35 combat jet program. Defense spending in the US has steadily declined in recent years (Figure 1), but sentiment has changed and things are starting to look up. Since its 1-year low in February, the S&P Aerospace & Defense...


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