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UBS Cuts Estimates for United Technologies; Several Headwinds in 2012 (UTX)

Technology products and services provider United Technologies Corporation ( UTX ) on Monday saw its earnings estimates lowered by analysts at UBS.

The firm said it cut its estimates for UTX through 2012, citing higher Engineering & Design spending, greater pension liabilities, and negative effects from foreign currency translation trends.

Still, UBS maintained its "Buy" rating a $91 price target for UTX, which suggests a 19% upside to the stock's Friday closing price of $76.31.

United Technologies shares were unchanged in premarket trading Monday.

The Bottom Line

Shares of United Technologies ( UTX ) have a 2.52% dividend yield, based on Friday's closing stock price of $76.31. The stock has technical support in the $67-$70 price area. If the shares can firm up, we see overhead resistance around the $80 price level.

United Technologies Corporation ( UTX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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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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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