NEW YORK (TheStreet) -- United Technologies Corp. shares are rallying 1.35% to $86.81 on Wednesday after the conglomerate that makes products for a number of different industries reported its fourth quarter fiscal 2015 earnings results earlier this morning.
For the latest quarter, the Farmington, CT-based company reported earnings of $1.53 a share on revenue of $14.3 billion.
Profit beat Wall Street's estimates of $1.51 a share but revenue missed forecasts of $15.43 billion.
A year ago, the company earned $1.41 a share on revenue of $14.98 billion.
Even though profit came in higher than projections, revenue plunged 4.5% year-over-year, largely due to the strong dollar and restructuring costs.
Overall, the company for months has been challenged with supply-chain issues at its jet-engine unit Pratt & Whitney. As a result, it experienced an operating loss of $464 million, down from an operating profit of $547 million the previous year.
Looking ahead, the company is maintaining its previous outlook it gave a month ago for 2016. It expects to earn between the range of $6.30 a share to $6.60 a share and sales to be between $56 billion to $58 billion.
Separately, TheStreet Ratings currently has a Buy rating on the stock with a letter grade of B-.
The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: UTX