Why United Technologies (UTX) Stock Is Up Today

NEW YORK (TheStreet) -- United Technologies (UTX) was gaining 0.4% to $113.44 in pre-market trading Tuesday after beating analysts' estimates for earnings and revenue in the second quarter.

For the second quarter United Technologies reports earnings of $1.84 a share, beating the Capital IQ Consensus Estimate of $1.72 a share by 13 cents. Revenue grew 7.4% from the year-ago quarter to $17.2 billion, beating analysts' estimates of $16.9 billion.

Looking to full-year 2014, United Technologies said it now expects earnings of $6.75 to $6.85 a share for the year. The company expects sales of about $65 billion for the year.

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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 revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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