Jet engine maker Pratt & Whitney said it plans to eliminate 1,000 jobs in Connecticut by 2011, transferring engine repair work to the Southeastern state of Georgia and Asia in a cost-cutting initiative.

This subsidiary of United Technologies Corp. (UTX) will close down its Cheshire, Connecticut, plant by early 2011. From the second quarter of 2010, it will begin shifting some operations from the East Hartford facility to Columbus, Georgia, Singapore and Japan. Pratt & Whitney, which is suffering due to sagging demand from airlines, employs 35,000 workers worldwide, with 11,000 in Connecticut.

The company rejected an offer that the Machinists union valued at more than $80 million in wage and other concessions and a state plan proposing $100 million in economic assistance over five years. Pratt & Whitney has vastly scaled back operations in the state since the 1960s, when more than 20,000 workers were employed.

Pratt

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If you still haven't put any defense and aerospace stocks in your portfolio, you should seriously consider doing so before October. There are plenty of these 'war' stocks to choose from including ones that pay high yields. Here are some that you may want to site your scopes on and possibly pull the trigger. All of these have market caps over $1 billion.Alliant Techsystems Inc. (ATK) manufactures and markets aerospace and defense products and ammunition. The stock has a PE of 16, and a PEG of 1.56.Boeing (BA) makes and markets jets, military aircraft, missile defense systems, satellites, and launch systems. The stock has a PE of 11, a PEG of 0.83, and pays a yield of 2.8%.CAE Inc. (CGT) makes and markets simulation equipment and services to the civil aviation industry, military organizations, and defense organizations. The ...

Astronics Corp. (ATRO:NASDAQ) is headquartered in West Aurora, New York. The company is a leader in advanced, high-performance lighting, electrical power generation, control, and distribution systems for the global aerospace industry. Astronics was named #1 on Fortune Small Business Magazine’s 2008 list of America’s 100 fastest-growing small public companies.

Astronics has a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. The company’s strategy is to expand the value and content it provides to various aircraft platforms through product development and acquisition. Astronics Corp. is uniquely positioned in its ability to address the complete lighting and electrical power system needs for the three major aircraft markets: military, commercial transport, and business jet markets.

Over the last decade, Astronics has positioned itself for growth on the premier, next-generation aircraft platforms with expanded value and content of products. Instead of being a supplier of individual components, Astronics has

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