United Technologies Analysis: Dow Earnings

BOSTON (TheStreet) -- United Technologies (UTX) has reported quarterly results.

Quarterly Synopsis: Fourth-quarter GAAP earnings per share rose 14% to $1.31, including a three cent restructuring charge. Consolidated sales advanced 6% to $15 billion due to organic growth. Solid order trends indicate 2011 momentum The Otis segment enjoyed an 11% bump in new orders and commercial HVAC orders at Carrier climbed 21%. Most impressive, Pratt & Whitney's large engine business increased 45% as the end market recovered. United Technologies repurchased $556 million of shares during the quarter and $2.2 billion for the year, rewarding stock holders with higher earnings. It is forecasting $5.05 to $5.35 of 2011 profit.

Earnings Performance: United Technologies posted adjusted per-share profit of $1.31, exceeding Wall Street's consensus estimate by 1.3%. By comparison, the company has an average earnings beat rate of 2.8% and has now beaten expectations in six consecutive quarters. Its top-line figure outperformed the expectation by 0.7%. By comparison, the company has an average sales beat rate of 1.6%. It missed expectations in the previous quarter.

Dividend Information: United Technologies pays a quarterly dividend of 43 cents, converting to an annual yield of 2.1%. It has grown the distribution 10% in the past 12 months and 13% and 14% annually, on average, over three- and five-year periods.

Analyst Opinions: Of analysts covering United Technologies, 16, or 72%, advise purchasing its stock and six recommend holding it. None say to sell. The stock has a median target of $89.

Goldman Sachs, Buy, $94 Target
Credit Suisse, Outperform, $92 Target
Deutsche Bank, Buy, $90 Target
Citigroup, Hold, $89 Target
UBS, Buy, $87 Target
JPMorgan, Overweight, $87 Target
Barclays, Overweight, $86 Target
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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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