United Technologies: A True Global Player
United Technologies is THE classic global growth stock. Like truly global stocks, they get more than half their sales outside the U.S.: 49% from U.S., 25% from Europe, 15% from Asia/Pacific, 10% elsewhere.
They the make the elevators (Otis is #1 in elevators) and the heating and air condition systems (Carrier is #1) that are going into the global building boom. They make the jet engines (Pratt & Whitney) going into the global aerospace boom. They reported strong organic growth (i.e. internal growth, not through acquisitions) of 9% with all segments showing year over year increases in revenue.
Their profits are up 20% year over year, and they raised their 2007 estimates to the high end of the range this morning. Things aren't perfect; the housing slowdown in the U.S. has hurt Carrier, but here is one company firmly planted to be where the global action is.
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