United Technologies (NYSE:UTX) is set to announce its earnings results before the market opens on Wednesday, January 24th. Analysts expect the company to announce earnings of $1.57 per share for the quarter.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The firm had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. During the same quarter in the prior year, the business posted $1.76 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts expect United Technologies to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.
United Technologies (UTX) opened at $135.90 on Monday. United Technologies has a 52-week low of $106.85 and a 52-week high of $137.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91. The stock has a market cap of $108,530.00, a PE ratio of 21.04, a P/E/G ratio of 2.35 and a beta of 1.07.
In other news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the sale, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Bailey sold 827 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. Insiders have sold 16,466 shares of company stock worth $2,019,274 over the last three months. 0.16% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in UTX. Beach Investment Management LLC. bought a new stake in shares of United Technologies during the second quarter valued at approximately $434,000. Bahl & Gaynor Inc. boosted its stake in United Technologies by 7.5% in the second quarter. Bahl & Gaynor Inc. now owns 614,945 shares of the conglomerate’s stock valued at $67,411,000 after acquiring an additional 43,071 shares during the last quarter. Bruderman Asset Management LLC bought a new position in United Technologies in the second quarter valued at approximately $706,000. Richard C. Young & CO. LTD. boosted its stake in United Technologies by 41.0% in the second quarter. Richard C. Young & CO. LTD. now owns 10,898 shares of the conglomerate’s stock valued at $1,331,000 after acquiring an additional 3,167 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in United Technologies by 0.3% in the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after acquiring an additional 133,036 shares during the last quarter. 80.07% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on UTX shares. Royal Bank of Canada reissued a “hold” rating and issued a $126.00 price target on shares of United Technologies in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of United Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Cowen reissued a “hold” rating and issued a $120.00 price target on shares of United Technologies in a research report on Tuesday, October 24th. Stifel Nicolaus raised their price objective on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Atlantic Securities raised shares of United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $128.19.
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About United Technologies
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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