United Technologies Co. (NYSE:UTX) – Investment analysts at Jefferies Group cut their Q2 2018 earnings estimates for United Technologies in a research report issued on Tuesday, April 24th. Jefferies Group analyst S. Kahyaoglu now expects that the conglomerate will earn $1.77 per share for the quarter, down from their prior forecast of $1.96. Jefferies Group also issued estimates for United Technologies’ Q3 2018 earnings at $1.89 EPS, Q4 2018 earnings at $1.77 EPS and FY2018 earnings at $7.10 EPS.
UTX has been the subject of a number of other research reports. Zacks Investment Research downgraded United Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 13th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $146.00 price objective (up previously from $124.00) on shares of United Technologies in a report on Thursday, January 25th. Cowen reiterated a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a report on Thursday, January 25th. Finally, UBS initiated coverage on United Technologies in a report on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $138.21.
UTX stock opened at $121.45 on Thursday. The firm has a market cap of $97,652.93, a PE ratio of 18.26, a PEG ratio of 1.85 and a beta of 1.08. United Technologies has a twelve month low of $109.10 and a twelve month high of $139.24. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.77.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.26. The company had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $14.62 billion. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 earnings per share.
Several institutional investors have recently made changes to their positions in UTX. Beach Investment Management LLC. bought a new stake in shares of United Technologies in the second quarter worth about $434,000. Bahl & Gaynor Inc. increased its holdings in shares of United Technologies by 7.5% in the second quarter. Bahl & Gaynor Inc. now owns 614,945 shares of the conglomerate’s stock worth $67,411,000 after acquiring an additional 43,071 shares in the last quarter. Bruderman Asset Management LLC bought a new stake in shares of United Technologies in the second quarter worth about $706,000. Richard C. Young & CO. LTD. boosted its position in shares of United Technologies by 41.0% during the second quarter. Richard C. Young & CO. LTD. now owns 10,898 shares of the conglomerate’s stock worth $1,331,000 after buying an additional 3,167 shares during the period. Finally, BlackRock Inc. boosted its position in shares of United Technologies by 0.3% during the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock worth $5,384,561,000 after buying an additional 133,036 shares during the period. Institutional investors own 81.88% of the company’s stock.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $134.95, for a total value of $274,218.40. Following the completion of the sale, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.
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United Technologies Company Profile
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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