United Technologies Buying Its Own Shares Vs. Those Of Rockwell

United Technologies hasn’t shown much sustained growth in revenues nor earnings over the last five years.
Nevertheless, the stock price has done pretty well over that time, most of the impetus coming from dividends and share buybacks.
A simple analysis shows that they probably would do better spending money on their own shares compared to those of Rockwell.
However, if they manage to achieve the synergies and increase in growth and pricing power, the acquisition can still pay off.

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