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NEW YORK (TheStreet) -- United Technologies (UTX) stock is falling by 0.37 to $102.33 at the start of trading on Wednesday, after analysts at Deutsche Bank downgraded their rating to "hold" from "buy" this morning.

The firm also lowered its price target to $112 from $128.

This action comes after the defense contractor reported its second quarter 2015 earnings results yesterday.

For the latest quarter, United Technologies reported earnings of $1.84 per share on revenue of $16.3 billion. In the same quarter the previous year, the company reported earnings of $1.84 per share on revenue of $17.19 billion.

While second quarter results were in line with Deutsche Bank analysts' expectations, the downgrade came after the company cut its guidance for the full year 2015. 

Earnings forecast were trimmed to a range of $6.15 to $6.30 per share from its previous forecast of $6.35 to $6.55 per share. Full year revenue estimates were lowered to a range between $57 billion and $58 billion, from $58 billion to $59 billion.

Separately, TheStreet Ratings team rates UNITED TECHNOLOGIES CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate UNITED TECHNOLOGIES CORP (UTX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, increase in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company shows low profit margins."

You can view the full analysis from the report here: UTX Ratings Report

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