The world's number one manufacturer of elevators and air
conditioning system, United Technologies Corporation (
), reported late Thursday its 2013 earnings expectations.
The Hartford, Conneticut-based company said that it expects to
earn around $5.85 to $6.15 per share it 2013, up +13% from its full
year 2012 earnings expectation of $5.32. Analysts on Wall Street
believe UTX 2013 earnings will be about $6.12 per share, according
to Thomson Reuters.
The company commented that it sees its 2013 revenue reaching
around $64 to $65 billion, up +11% from the $58 billion it expects
for 2012. Wall Street analysts expect 2013 sales to reach $66.4
United Technologies also reported that it expects to buy back
around $1 billion or more in shares next year.
CEO Louis Chenevert said that he believes despite an uneven
global economy, United Technologies is in a position to see growth
next year due to an increase in consumer spending, a recovering
housing market, and the decline of oil prices.
United Technologies shares were down 87 cents, or -1.08%, in
premarket trading on Friday.
The Bottom Line
Shares of United Technologies (
) have a 2.66% dividend yield, based on last night's closing stock
price of $80.37. The stock has technical support in the $75-$76
price area. If the shares can firm up, we see overhead resistance
around the $83-$87 price levels.
United Technologies Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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