Brokerages expect United Technologies Co. (NYSE:UTX) to post sales of $16.24 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for United Technologies’ earnings. The highest sales estimate is $16.52 billion and the lowest is $15.97 billion. United Technologies posted sales of $15.28 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.3%. The business is expected to announce its next quarterly earnings report on Tuesday, July 24th.
On average, analysts expect that United Technologies will report full year sales of $65.04 billion for the current year, with estimates ranging from $63.66 billion to $69.39 billion. For the next fiscal year, analysts forecast that the business will post sales of $69.02 billion per share, with estimates ranging from $66.43 billion to $77.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for United Technologies.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.26. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The firm had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $14.62 billion. During the same period last year, the business posted $1.48 EPS. The business’s revenue was up 10.3% compared to the same quarter last year.
A number of research firms have recently issued reports on UTX. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Cowen reissued a “hold” rating and set a $141.00 price objective on shares of United Technologies in a research report on Tuesday, April 24th. Stifel Nicolaus cut their price objective on shares of United Technologies from $131.00 to $127.00 and set a “hold” rating on the stock in a research report on Wednesday, April 25th. ValuEngine cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Daiwa Capital Markets raised shares of United Technologies from a “hold” rating to an “outperform” rating in a research report on Tuesday, May 8th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $140.31.
In related news, CFO Akhil Johri sold 6,259 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $128.30, for a total value of $803,029.70. Following the transaction, the chief financial officer now owns 47,088 shares of the company’s stock, valued at approximately $6,041,390.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth B. Amato sold 6,557 shares of the firm’s stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $123.86, for a total transaction of $812,150.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,286 shares of company stock worth $4,143,938. 0.17% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in UTX. TRUE Private Wealth Advisors lifted its position in shares of United Technologies by 98.2% during the 4th quarter. TRUE Private Wealth Advisors now owns 7,515 shares of the conglomerate’s stock worth $958,000 after buying an additional 3,724 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in shares of United Technologies by 16.6% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,165 shares of the conglomerate’s stock worth $404,000 after buying an additional 450 shares in the last quarter. V Wealth Management LLC bought a new position in shares of United Technologies during the 4th quarter worth approximately $340,000. Steward Partners Investment Advisory LLC lifted its position in shares of United Technologies by 32.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 80,546 shares of the conglomerate’s stock worth $10,275,000 after buying an additional 19,765 shares in the last quarter. Finally, Asset Advisors Corp lifted its position in shares of United Technologies by 2.1% during the 4th quarter. Asset Advisors Corp now owns 67,688 shares of the conglomerate’s stock worth $8,635,000 after buying an additional 1,395 shares in the last quarter. 81.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of United Technologies traded down $0.26, reaching $124.61, on Friday, MarketBeat reports. 6,310,200 shares of the company were exchanged, compared to its average volume of 4,532,946. The stock has a market capitalization of $99.90 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.32 and a quick ratio of 0.96. United Technologies has a one year low of $109.10 and a one year high of $139.24.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 annualized dividend and a yield of 2.25%. United Technologies’s payout ratio is 42.11%.
About United Technologies
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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