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Company Update: United Technologies Corp (NYSE:UTX) – UTC Aerospace Systems develops new integrated drive generator to reduce costs and fuel usage

[PR Newswire] – FARNBOROUGH, England, July 12, 2016 /PRNewswire/ — UTC Aerospace Systems, a unit of United Technologies Corp. (UTX), invested millions and nearly 15 years to develop a lighter and more compact advanced integrated drive generator (IDG) to power jets like Embraer’s new E190-E2. The new IDG supplies the constant frequency electric power needed for the E2 jet, equivalent to the amount of electricity needed to power 48 homes, with the added benefit of cost and fuel savings. The IDG, compatible with the E190-E2 and the E195-E2, is the first all-new integrated drive generator design in more than a decade and is the result of collaboration with Pratt & Whitney. Read more on this. United Technologies Corporation (UTX) , with a current market cap of $87.51B, opened this morning at $104.23. A quick look at the market, the company’s stock traded between $104.17 and $105.05 and has traded between $83.39 and $112.36 over the past year. UTX shares are currently priced at 15.87x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 21.99x earnings multiple for the same period. And for passive income investors, the company pays shareholders $2.64 per share annually in dividends, yielding 2.55%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $1.68 per share, which would be $0.05 worse than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $6.55 which would be a $0.26 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $14.67 Billion. If reported, that would be a 10.17% decrease over the year-ago quarter. In terms of ratings, RBC Capital Mkts downgraded UTX from Outperform to Sector Perform (May 3, 2016). Previously, Goldman downgraded UTX from Buy to Neutral. When considering if the stock is under or overvalued, the average price target is $111.35, which is 6.83% above where the stock opened this morning. See more in (NYSE:UTX) Similar Articles: Market Update: United Technologies Corp (NYSE:UTX) – UTC Aerospace Systems Next-Gen Sensor Selected for Global Hawk UAS Company Update: United Technologies Corp (NYSE:UTX) – UTC Aerospace Systems to supply three additional systems for Boeing’s 777X Company Update: United Technologies Corp (NYSE:UTX) – Boeing Selects UTC Aerospace Systems for Continued Sustainment of Landing Gear Systems for the U.S. Air Force
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