The case for buying stock in United Technologies (NYSE: UTX) has long been built on the idea that the value of the sum of its parts is greater than what they trade on as part of an industrial conglomerate. It's a fashionable idea, and one that encouraged management to split the company into three separate parts. But the separate businesses still need to perform well in the run-up to the spin-offs, so let's take a look at current progress before judging whether the stock is a good value or not.
an industrial conglomerate which manufactures engine parts, elevators, and air-conditioning equipment
Industry IndustrialConglomerates