Exhibit 11



                        UNITED TECHNOLOGIES CORPORATION
                                AND SUBSIDIARIES

                       COMPUTATION OF PER SHARE EARNINGS



                                                             Three Months Ended
                                                                  March 31,
In Millions of Dollars (except per share amounts)             1995          1994
                                                                

Earnings applicable to Common Stock                     $       129    $        62
ESOP Convertible Preferred Stock adjustment                       5              4

Net earnings for calculation of primary and fully
  diluted earnings per share                            $       134    $        66

Average number of common shares and common stock
  equivalents outstanding during period (four month-
  end average)                                          130,071,357    132,937,635
Fully diluted average number of common shares and
  common stock equivalents outstanding during period
  (four month-end average)                              130,506,775    133,107,166

Primary earnings per common share                       $      1.03    $       .50
Fully diluted earnings per common share                 $      1.03    $       .50






















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