Building systems and aerospace products maker United Technologies Corporation (UTX) on Wednesday posted an 11% gain in fourth quarter earnings, although revenue missed Wall Street’s expectations.
The Hartford, CT-based company reported fourth quarter net income of $1.33 billion, or $1.47 per share, compared with $1.2 billion, or $1.31 per share, in the year-ago period.
Revenue edged only slightly higher from last year to $14.97 billion.
On average, Wall Street analysts expected a smaller profit of $1.46 per share, albeit on higher revenue of $15.06 billion.
Looking ahead, UTX reaffirmed its previously-announced full-year 2012 earnings outlook of $5.80 to $6 per share, on revenue of $59 to $60 billion.
United Technologies shares were mostly flat in premarket trading Wednesday.
The Bottom Line
Shares of United Technologies (UTX) have a 2.47% dividend yield, based on last night’s closing stock price of $77.78. The stock has technical support in the $70-$75 price area. If the shares can firm up, we see overhead resistance around the $80-$82 price levels.
United Technologies Corporation (UTX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.