The Conglomerates sector was forced down to end the session just below the trend line with a negative change of -0.02%.
In the last trading session, heavy equipment manufacturer conglomerate stock, Caterpillar Inc. (NYSE:CAT) declined -1.49% and closed at $92.54 with the total traded volume of 7.10 million shares, more than the average volume of 6.73 million. Stock price 52 weeks high was $116.95 and 52 weeks low price was $67.54.
3M Company (NYSE:MMM) shares slid along with broader market almost -0.05% as its Chief Financial Officer, David Meline, informed investors that his firm is in the course of battling the Justice Department over its doubts about 3M’s planned $550 million takeover of the office products unit of the Avery-Dennison Corporation (NYSE:AVY). The Department bullied to halt the deal in court in the start of the month.
Another component, The Dow Chemical Company (NYSE:DOW) moved down -0.26% and closed at $30.88 with the total traded volume of 5.95 million shares in the last trading session. DOW is trading above 3.04% from 50 day simple moving average and lower than -1.39% from 200 day simple moving average.
United Technologies Corp. (UTX) started an elevator plant in Chongqing, China.
The elevator-manufacturer’s orders in China, which results for almost half of the worldwide market, have been declining following price hikes in 2012 and a deadly escalator mishap on the Beijing subway.
United Technologies Corporation (NYSE:UTX) slipped -0.98% with the closing price of $80.92. The overall volume in the last trading session was 5.67 million shares. Its fifty two week range was $66.87-$87.50. The total market capitalization remained $73.78 billion.
UTX is ahead of its 52 week low 24.08% and its last month price volatility remained 1.52%. Its beta coefficient was 1.04 with a target price of $92.58. The Company’s current year earnings per share grew 15.85% while the five year EPS growth rate was 8.15%.