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Stock Update (NYSE:UTX): Honeywell, United Tech held merger talks

[AAP] – Aerospace component suppliers Honeywell International Inc and United Technologies Corp have held merger talks, but the latter is convinced that a deal would not pass antitrust muster, according to people familiar with the matter. Such a deal would likely draw opposition from plane makers such as Airbus and Boeing, as well as the Pentagon, since the companies also make parts for key weapons programs, including Lockheed Martin Corp’s F-35 program. United Tech was reluctant to shed higher-margin commercial aerospace units that would likely be required to secure government approval, a second source said. Read more on this. United Technologies Corporation (UTX) , with a current value of $77.26B, opened this morning at $89.19. Today, shares have traded between $88.87 and $94.91 per share with a one year range of $83.39 to $124.33. UTX shares are currently priced at 13.55x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 40.18x earnings multiple for the same period. And for those looking to make a return holding the stock , the company pays shareholders $2.56 per share annually in dividends, yielding 2.90%. According to a consensus of 18 analysts, the earnings estimate of $1.40 per share would be $0.18 worse than the year-ago quarter and a $0.06 sequential decrease. The full-year EPS estimate is $6.51, which would be a $0.22 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $13.16 Billion. If realized, that would be a 9.49% decrease over the year-ago quarter. Recently, Bernstein downgraded UTX from Outperform to Mkt Perform (Jan 8, 2016). Previously, Sterne Agee CRT downgraded UTX from Buy to Neutral. Investors should keep in mind is that the average price target is $105.28, which is 18.04% above where the stock opened this morning. See more in (NYSE:UTX) Similar Articles: Market Update: Honeywell International Inc (NYSE:HON) – Honeywell, United Tech held merger talks: sources Market Update: United Technologies Corp (NYSE:UTX) – Lockheed, United Tech to close Sikorsky deal by Friday Company Update (NYSE:UTX): Lockheed, United Tech say close to finalizing Sikorsky deal
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