Updating Briggs & Stratton Corp. and United Technologies Corp.

Article Excerpt

BRIGGS & STRATTON CORP. $19 (www.briggsandstratton.com) reported that its sales fell 7.9% in its fiscal 2015 first quarter, which ended September 30, 2014, to $292.6 million from $317.3 million a year earlier. Cool spring and summer weather hurt sales of lawn mowers and garden equipment. That means manufacturers still had a lot of inventory left over, so they ordered fewer of Briggs’ lawn mower engines. However, savings from a restructuring plan narrowed the company’s loss to $0.21 a share from $0.35 a year earlier. Hold. UNITED TECHNOLOGIES CORP. $113 (www.utc.com) expects its revenue to rise from a projected $65 billion in 2014 to between $66 billion and $67 billion in 2015. Strong demand for its building products and Sikorsky helicopters will offset slower growth at its Pratt & Whitney jet-engine division. Earnings will likely gain 4.4%, from $6.80 in 2014 to $7.10 in 2015. The stock trades at 15.9 times the 2015 estimate. Buy. Buy. …