Industrial goods manufacturer United Technologies Corp. (UTX) recently reiterated its outlook for 2014. For full-year 2014, the company expects earnings in the range of $6.55–$6.85 per share on revenues of approximately $64 billion. The current Zacks Consensus Estimate for earnings for the year is on the higher end of the guidance at $6.81.

The stock is currently trading at a forward P/E of 17.0x and has a long-term earnings expectation of 11.2%. With strong order flows, United Technologies expects organic growth to continue to accelerate in 2014 and beyond.

The company is flourishing on lucrative contracts for jet engine replacements and fresh demand for helicopters in the public services sector.  United Technologies is also investing heavily in technological innovation to come up with new products to fend competition.

While Sikorsky, a unit of United Technologies, is the leading helicopter supplier to the Pentagon, Pratt & Whitney is a dominant player in the worldwide helicopter market and is recognized for its outstanding reliability, durability and exceptional operating economics.

In addition, United Technologies serves various end-markets such as aerospace, defense and commercial construction, which move according to their own cycles. This business mix and diversification allow the company to remain profitable even during tough economic times, delivering consistent earnings and dividend growth.

The company has an experienced management team that is likely to capitalize on the continued global economic recovery and deliver sustainable earnings growth in 2014 as well as in the future.

Furthermore, United Technologies has a strong balance sheet with adequate liquidity to fuel its growth engine. The company generates strong free cash flow, which allows management to invest in organic and inorganic growth.

Other stocks in the industry that look promising at current levels include Marubeni Corp. (MARUY), Mitsubishi Corp. (MSBHY) and 3M Co. (MMM).