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UTC Boosts Share Repurchase Plans, Reaffirms 2014 Guidance

Cal Biesecker By
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UTC Boosts Share Repurchase Plans, Reaffirms 2014 Guidance
UTC Chairman and CEO Louis Chenevert. Photo: UTC

United Technologies Corp. [UTX] on Wednesday reaffirmed its earnings guidance for 2014 and said it plans to increase the amount of money devoted to its stock buybacks this year. The company is adding $100 million to its level of share repurchases, bringing planned expenditures to $1.35 billion. In July, UTC boosted its expected level of spending on share repurchases for the year by $250 million to $1.25 billion based on based on its outlook for strong cash flow. UTC’s per…

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