Pratt & Whitney, a division of United technologies Inc (UTX), recently completed the second phase of an assembly-floor transformation project at its Middletown, Conn. facility. The facility is aimed to fully utilise its existing factory space to produce hundreds of V2500 engines annually and also to ramp up production of its engine lines for the F135 and PW1100G-JM engine programs.
The V2500 turbofan engines are known for its reliability and fuel efficiency as well as for its higher environmental performance for both noise and emissions. The increase in production of these engines is likely to augment the company’s revenues. Apart from this, Pratt & Whitney's in-depth knowledge and experience will help in maximizing the engine's longevity as well as its performance in the long run.
The Connecticut operations continue to be an important part of Pratt & Whitney's investment plan. The company intends to invest hundreds of millions of dollars to increase production for its next generation product family and it includes significant investments in its Connecticut facilities.
United Technologies provides high-end technology products and services to the building systems and aerospace industries worldwide. The company’s growth is driven by strategic acquisitions and internal development of existing businesses. Pratt & Whitney is among the world’s leading suppliers of aircraft engines for the commercial, military, business jet and general aviation markets. In the last reported quarter, Pratt & Whitney’s revenues increased 5.1% year over.
United Technologies currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now are Federal Signal Corp (FSS), having a Zacks Rank #1 (Strong Buy), and ITT Corporation (ITT) and LSB Industries Inc (LXU), both having a Zacks Rank #2 (Buy).