Aerospace News: United Tech, Goodrich, Boeing Monday, September 26, 12:56 PM ET
Keep an eye on shares of United Technologies (NYSE:
UTX) today, after Morgan Stanley (NYSE: MS) upgraded the stock from equal weight to overweight.
Morgan Stanley set a $95 price target on United Tech, which said last week it had agreed to acquire aircraft parts supplier Goodrich (
The firm downgraded its rating on Goodrich from overweight to equal weight, as it sees no further upside in the stock now that the acquisition is in place.
Elsewhere in the aerospace sector, Boeing (NYSE:
BA) said yesterday it has completed the first contractual delivery of its long-awaited 787 Dreamliner.
Celebrations marking the event will be held today at Boeing plant, and the airplane will be flown away by purchaser All Nippon Airways tomorrow.
United Technologies and Boeing are the top two holdings in the iShares Dow Jones U.S. Aerospace & Defense Index Fund (AMEX:
ITA), trading up .6% Monday.
Precision Castparts (NYSE:
PCP), Lockheed Martin (NYSE: LMT), and Goodrich round out the top five holdings in the fund.
The Aerospace & Defense Portfolio (AMEX:
PPA) is trading up over .5%.
For MarketNewsVideo.com, I'm Tracey Fitzpatrick.
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Aerospace News: United Tech, Goodrich, Boeing
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