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Market Update: United Technologies Corp (NYSE:UTX) – UTC Aerospace Systems expands presence in Foley, Alabama

[PR Newswire] – CHARLOTTE, N.C., May 3, 2016 /PRNewswire/ — UTC Aerospace Systems announced that it is expanding its existing footprint in Foley, Alabama by adding a new manufacturing and nacelle assembly facility that is estimated to bring 260 new jobs to Baldwin County. UTC Aerospace Systems, a unit of United Technologies Corp. (UTX), is one of Alabama’s largest aerospace manufacturers as measured by number of employees. The new 80,000 square-foot building will house the assembly of nacelle components and propulsion system integration. Read more on this. United Technologies Corporation (UTX) , valued at $85.78B, opened this morning at $103.46. A quick look at the market, the company’s stock traded between $101.87 and $103.86 with a trailing 52-week range being $83.39 to $119.66. UTX shares are currently priced at 15.93x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.04x forward p/e ratio. And for passive income investors, the company pays shareholders $2.64 per share annually in dividends, yielding 2.53%. According to a consensus of 18 analysts, the earnings estimate of $1.68 per share would be $0.05 worse than the year-ago quarter and a $0.01 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $6.55 would be a $0.26 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $14.66 Billion. If realized, that would be a 10.23% decrease over the year-ago quarter. More recently, Goldman downgraded UTX from Buy to Neutral (May 2, 2016). Previously, RBC Capital Mkts upgraded UTX from Sector Perform to Outperform. Given all the information above, we should disclose to readers that the average price target is $111.72, which is 7.98% above than it opened this morning. See more in (NYSE:UTX) Similar Articles: Market Update: United Technologies Corp (NYSE:UTX) – Emirates Airline selects UTC Aerospace Systems C.A.R.E. program for A380 maintenance Company Update: United Technologies Corp (NYSE:UTX) – UTC Aerospace Systems to supply three additional systems for Boeing’s 777X Market Update: United Technologies Corp (NYSE:UTX) – UTC Aerospace Systems Helps Enable Mitsubishi Regional Jet First Flight
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