United Tech sees Q1 earnings below Wall Street target

March 13 (Reuters) - Diversified manufacturer United Technologies Corp. forecast first-quarter earnings below Wall Street's target on Thursday, although it backed its full-year financial outlook.

Shares of the large manufacturer of jet engines, elevators and climate control systems fell 2.6 percent in afternoon trading, making it the biggest decliner among the stocks in the Dow Jones industrials index.

The company forecast earnings of about $1.25 per share for the first quarter, compared to the average analyst estimate of $1.38, according to Thomson Reuters I/B/E/S.