United Technologies ( UTX) pushed the Conglomerates sector lower today making it today's featured Conglomerates loser. The sector as a whole closed the day up 0.1%. By the end of trading, United Technologies fell 64 cents (-0.8%) to $80.91 on light volume. Throughout the day, 2.2 million shares of United Technologies exchanged hands as compared to its average daily volume of four million shares. The stock ranged in price between $80.54-$81.66 after having opened the day at $81.45 as compared to the previous trading day's close of $81.55. Other company's within the Conglomerates sector that declined today were: Harbinger Group ( HRG), down 2.7%, Cooper Industries ( CBE), down 2.5%, Tredegar Corporation ( TG), down 1.9%, and Caterpillar ( CAT), down 1.9%. United Technologies Corporation provides technology products and services to the building systems and aerospace industries worldwide. United Technologies has a market cap of $74.21 billion and is part of the conglomerates industry. The company has a P/E ratio of 14.2, below the average conglomerates industry P/E ratio of 17.1 and below the S&P 500 P/E ratio of 17.7. Shares are up 11.4% year to date as of the close of trading on Wednesday. Currently there are 15 analysts that rate United Technologies a buy, no analysts rate it a sell, and three rate it a hold. TheStreet Ratings rates United Technologies as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the conglomerates sector could consider SPDR Trust Series one ( SPY) while those bearish on the conglomerates sector could consider ProShares Short S&P 500 ( SH).