UTX sticks by its full-year forecast

Article Excerpt

UNITED TECHNOLOGIES CORP. $122 (New York symbol UTX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 801.2 million; Market cap: $97.7 billion; Price-to-sales ratio: 1.5; Dividend yield: 2.2%; TSINetwork Rating: Above Average; www.utc.com) has four main businesses: Climate, Controls & Security makes heating/air conditioning systems (under the Carrier brand) as well as building alarms; Otis makes elevators; Aerospace Systems manufactures aircraft parts; and Pratt & Whitney makes jet engines. In the three months ended March 31, 2017, United Technologies’ overall sales rose 3.4%, to $13.8 billion from $13.4 billion a year earlier. Earnings fell 2.6%, to $1.18 billion from $1.21 billion. But due to fewer shares outstanding, earnings per share improved 1.4%, to $1.48 from $1.46. The company expects to resume shipments of its new fuel-efficient jet engines now that it has resolved some technical problems. Even with that setback, United Technologies still expects to earn between $6.30 and $6.60 a share for all of 2017. The stock trades at a..