UTC defense exposure to decline to 13 percent

Following the divestiture of Sikorsky, United Technologies' defense exposure will be 13 percent, down from 19 percent before the sale, the company's chief executive said today.

During a call with analysts, Greg Hayes said the sale of Sikorsky to Lockheed "remains on track."

Noting that the deal has already gotten key approvals, including from the United States, Hayes said there remain "a couple more to go," but he expects those to arrive in the coming weeks.

UTC reported today that sales and profit in its Pratt & Whitney business and its aerospace systems unit in the most recent quarter fell. Pratt & Whitney saw steeper declines, with quarterly profit hitting $419 million, down from $633 million in the same three-month period the prior year.

UTC said sales were hurt by "a delay in engine deliveries as a result of the transition to a new logistics center at Pratt & Whitney. These deliveries should largely be recovered in the fourth quarter."