United Technologies Gives 2013 Guidance; Sees Profit up 13% (UTX)

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The world's number one manufacturer of elevators and air conditioning system, United Technologies Corporation ( UTX ), 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 billion.

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 ( UTX ) 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 ( UTX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks


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