NEW YORK (TheStreet) -- United Technologies (UTX) shares are rising 0.11% to $113.16 in trading on Tuesday, climbing back after being down for most of the morning, on the same day the company announced the appointment of its new CFO.
The Hartford, CT-based company said that it was bringing back Akhil Johri to succeed Greg Hayes, who was promoted to CEO following the unexpected departure of Louis Chenevert from the company late last month.
Johri spent 26 years at United Technologies in multiple roles with the company including CFO of the UTC Propulsion & Aerospace Systems sector before leaving for Pall Corp. (PLL) in 2013. Johri will continue his career at United Technologies starting January 1.
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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, impressive record of earnings per share growth, increase in net income, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."