Dow Today: United Technologies (UTX) Higher

The Dow Jones Industrial Average ( ^DJI) is trading up 225 points (+1.7%) at 13,103 as of Friday, Aug 3, 2012, 1:35 p.m. ET. During this time, 317.9 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 685 million. The NYSE advances/declines ratio sits at 2,523 issues advancing vs. 472 declining with 76 unchanged.

The Dow component leading the way higher looks to be United Technologies (NYSE: UTX), which is sporting a $2.23 gain (+3%) bringing the stock to $76.67. This single gain is lifting the Dow Jones Industrial Average by 16.88 points or roughly accounting for 7.5% of the Dow's overall gain. Volume for United Technologies currently sits at 2.2 million shares traded vs. an average daily trading volume of 4.1 million shares.

United Technologies has a market cap of $68.19 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 2.3% year to date as of Thursday's close. The stock's dividend yield sits at 2.9%.

United Technologies Corporation provides technology products and services to the building systems and aerospace industries worldwide. The company has a P/E ratio of 12.6, below the average conglomerates industry P/E ratio of 13.1 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates United Technologies as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, notable return on equity, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company shows low profit margins.
null

If you liked this article you might like

Cramer: Under Trump, These Are Probably Done Deals

Cramer: Northrop-Orbital Deal Is Bigger Than Just the Synergies

S&P 500 and Dow Score Records With Wall Street Upbeat Ahead of Fed

Honeywell Relocating Global Retail HQ to Massachusetts

Northrop Swoops In to Save the Day for Orbital ATK