Hamilton Reiner, Head of U.S. Equity Derivatives for J.P. Morgan Asset Management, says that one of his biggest overweights as of September 30, 2015, is United Technologies Corporation (NYSE:UTX), a company that provides technology products and services to the building systems industry.
“It is an industrial company. We actually like what they are doing by selling Sikorsky. We like how they are positioned when it comes to Otis Elevator,” Reiner says.
Reiner runs his portfolios to be sector-neutral, but says that the nonresidential construction space is doing well, which should benefit United Technologies Corporation.
“When it comes to United Technologies, we think that nonresidential construction continues to look attractive. We are still midcycle on that. Given their Otis exposure, we think that’s a good thing for the stock, not just in the U.S. but also on a global basis,” he says.
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