Despite declining sales and profits, United Technologies Corp. said Wednesday it will increase its share buyback plan by $12 billion in an attempt to raise the value of its stock so that it better reflect the true value of the corporation.

The move comes shortly after the finalization of the sale of UTC’s helicopter unit Sikorsky Aircraft to Lockheed Martin for $9 billion, with the majority of the proceeds going to increasing its ongoing stock repurchase program.

The goal of the conglomerate is to buy back $16 billion worth of stock over the next two years. UTC Chief Executive, Greg Hayes, has already repurchased $4 billion shares so far this year, and with the $9 billion windfall from the sale of the helicopter arm, he is now planning to accelerate the process by buying back an additional $10 billion by the end of the year.

Hayes noted that this move takes advantage of “a big disconnect” in the current share price and the company’s true value.

The company’s shares price has indeed taken a significant hit this year, falling by over 20 percent, as investors have been scared away as the company’s profits have declined even more rapidly than its sales. For the third quarter, the maker of Pratt & Whitney jet engines and Otis elevators saw its sales decline by 5.6 percent to $13.8 billion, with profits falling even more drastically, down 26 percent at $1.36 billion.

The intensified share buyback strategy comes as UTC tries to navigate a stagnant European market, the ever increasing troubles in China’s economy and the cost of new engine production. The company has also faced issue at its new logistic center which has reduced Pratt engine deliveries by 55 units in the third quarter, which represents around $500 million in sales revenue but it expects to pick up this slack by the end of the year.

The share buyback strategy is a part of a proactive approach by United Technologies to take the bull by the horns and the take steps that other companies are forced to do by activist investors.

“We’re the activists at UTC,” stated Hayes. “If an activist wants to come in and make a suggestion that we do it, we can say, ’been there, done that.’”