UNITED TECHNOLOGIES CORP. $78 - New York symbol UTX

UNITED TECHNOLOGIES CORP. $78 (New York symbol UTX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 911.8 million; Market cap: $71.1 billion; Price-to-sales ratio: 1.3; Dividend yield: 2.7%; TSINetwork Rating: Above Average; www.utc.com) has six main businesses: Pratt & Whitney (aircraft engines); Otis (elevators); Carrier (heating and air-conditioning equipment); UTC Fire & Security (burglar alarms and fire-protection services); Sikorsky (helicopters); and Hamilton Sundstrand (aircraft controls).

In July 2012, the company completed its $18.4- billion acquisition of North Carolina-based Goodrich Corp., which makes aircraft parts, including landing gear, wheels and brakes.

Meanwhile, United Technologies earned $1.25 bil- lion in the three months ended September 30, 2012. That’s down 3.3% from $1.3 billion a year earlier. Because of more shares outstanding, earnings per share fell 4.2%, to $1.37 from $1.43.

Revenue rose 5.7%, to $15.0 billion from $14.2 billion. If you exclude contributions from Goodrich and other acquisitions, revenue fell 2%, mainly due to weaker demand for aircraft equipment.

The company expects the cost of integrating Goodrich to cut its 2012 earnings by $0.10 a share, which is much better than its original forecast of $0.20. Excluding these costs, United Technologies should earn $5.30 a share this year. The stock trades at 14.7 times that estimate. The $2.14 dividend yields 2.7%.

United Technologies is a buy.

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