UTX Earnings Lack GE Oomph, a Set-Up for 3M

United Technologies Corp. (UTX) reported third-quarter results before markets opened Tuesday morning, and the results were just okay. Profit up 1.2%, earnings per share (EPS) better than the consensus estimate, while revenue missed estimates by about $1 billion.

The company lowered its full-year revenue by $1 billion, but did raise the low end of its guidance by $0.10 and is now projecting full-year EPS of $6.10 to $6.15. Since our review of the conglomerates last month, United Tech has posted a new 52-week high above $112, before falling below $107 again.

3M Corp. (MMM) reports earnings on Thursday and is expected to post EPS of $1.75 on revenues of $7.85 billion. Compared with a year ago, EPS is forecast down and revenues are forecast about $350 million higher. Like United Tech, since mid-September 3M has posted a new 52-week high above $123 a share, above the consensus price target of $122.60. Read more: United Technologies Corp. (UTX)