United Technologies (NYSE:UTX) updated its FY18 earnings guidance on Friday. The company provided EPS guidance of $6.85-7.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.07. The company issued revenue guidance of $62.5-64.0 billion, compared to the consensus revenue estimate of $63.56 billion.
A number of research firms recently weighed in on UTX. UBS set a $155.00 price objective on United Technologies and gave the company a buy rating in a report on Thursday, March 15th. Barclays increased their price target on United Technologies from $157.00 to $159.00 and gave the stock an overweight rating in a report on Monday, February 26th. Stifel Nicolaus reiterated a hold rating and set a $139.00 price target on shares of United Technologies in a report on Friday, February 16th. Cowen reiterated a hold rating and set a $141.00 price target on shares of United Technologies in a report on Sunday, February 11th. Finally, Argus raised shares of United Technologies from a hold rating to a buy rating in a research report on Friday, February 9th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $139.07.
Shares of UTX stock traded down $3.00 during trading hours on Friday, hitting $122.76. 4,454,247 shares of the company were exchanged, compared to its average volume of 4,618,601. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. United Technologies has a 52-week low of $109.10 and a 52-week high of $139.24. The firm has a market cap of $100,580.13, a P/E ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.08.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $15.34 billion. During the same quarter last year, the business posted $1.56 EPS. United Technologies’s quarterly revenue was up 7.0% compared to the same quarter last year. equities analysts expect that United Technologies will post 7.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 16th were paid a $0.70 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.28%. United Technologies’s dividend payout ratio is 42.11%.
In related news, VP Robert J. Bailey sold 2,032 shares of United Technologies stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.95, for a total value of $274,218.40. Following the completion of the transaction, the vice president now directly owns 4,900 shares in the company, valued at approximately $661,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in UTX. Rowland & Co. Investment Counsel ADV boosted its holdings in United Technologies by 0.3% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after purchasing an additional 3 shares during the period. Acrospire Investment Management LLC bought a new position in United Technologies in the 2nd quarter valued at $195,000. Rafferty Asset Management LLC bought a new position in United Technologies in the 2nd quarter valued at $215,000. Segment Wealth Management LLC bought a new position in United Technologies in the 2nd quarter valued at $215,000. Finally, IHT Wealth Management LLC boosted its holdings in United Technologies by 18.5% in the 2nd quarter. IHT Wealth Management LLC now owns 2,561 shares of the conglomerate’s stock valued at $221,000 after purchasing an additional 399 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.
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United Technologies Company Profile
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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