Zacks: Analysts Anticipate United Technologies Co. (UTX) to Post $1.84 Earnings Per Share

Equities analysts predict that United Technologies Co. (NYSE:UTX) will announce $1.84 earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for United Technologies’ earnings, with the highest EPS estimate coming in at $1.95 and the lowest estimate coming in at $1.70. United Technologies reported earnings of $1.85 per share in the same quarter last year, which indicates a negative year over year growth rate of 0.5%. The firm is expected to report its next earnings results on Tuesday, July 24th.

According to Zacks, analysts expect that United Technologies will report full-year earnings of $7.13 per share for the current year, with EPS estimates ranging from $7.10 to $7.20. For the next year, analysts anticipate that the business will report earnings of $7.85 per share, with EPS estimates ranging from $7.50 to $8.52. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for United Technologies.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, April 24th. The conglomerate reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.26. The business had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $14.62 billion. United Technologies had a net margin of 7.28% and a return on equity of 17.67%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 EPS.

UTX has been the subject of several research reports. Daiwa Capital Markets raised shares of United Technologies from a “hold” rating to an “outperform” rating in a research note on Tuesday, May 8th. UBS Group set a $155.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research note on Thursday, March 15th. Zacks Investment Research downgraded shares of United Technologies from a “hold” rating to a “sell” rating in a research note on Friday, April 13th. Stifel Nicolaus dropped their price objective on shares of United Technologies from $131.00 to $127.00 and set a “hold” rating for the company in a research note on Wednesday, April 25th. Finally, Cowen reaffirmed a “hold” rating and set a $141.00 price target on shares of United Technologies in a research note on Tuesday, April 24th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. United Technologies has an average rating of “Buy” and a consensus target price of $140.31.

In related news, CFO Akhil Johri sold 6,259 shares of United Technologies stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $128.30, for a total transaction of $803,029.70. Following the completion of the transaction, the chief financial officer now owns 47,088 shares of the company’s stock, valued at $6,041,390.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Charles D. Gill sold 9,700 shares of United Technologies stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $128.47, for a total transaction of $1,246,159.00. Following the transaction, the vice president now directly owns 25,029 shares of the company’s stock, valued at approximately $3,215,475.63. The disclosure for this sale can be found here. Insiders have sold 33,286 shares of company stock valued at $4,143,938 in the last ninety days. Insiders own 0.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cadinha & Co. LLC raised its stake in United Technologies by 3.8% during the fourth quarter. Cadinha & Co. LLC now owns 10,490 shares of the conglomerate’s stock worth $1,338,000 after buying an additional 380 shares during the last quarter. Atlas Brown Inc. raised its stake in United Technologies by 18.7% during the fourth quarter. Atlas Brown Inc. now owns 2,507 shares of the conglomerate’s stock worth $340,000 after buying an additional 395 shares during the last quarter. MEMBERS Trust Co raised its stake in United Technologies by 8.9% during the fourth quarter. MEMBERS Trust Co now owns 4,977 shares of the conglomerate’s stock worth $635,000 after buying an additional 405 shares during the last quarter. Good Life Advisors LLC raised its stake in United Technologies by 22.7% during the fourth quarter. Good Life Advisors LLC now owns 2,207 shares of the conglomerate’s stock worth $295,000 after buying an additional 408 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. raised its stake in United Technologies by 1.6% during the first quarter. Cornercap Investment Counsel Inc. now owns 26,385 shares of the conglomerate’s stock worth $3,320,000 after buying an additional 420 shares during the last quarter. 81.24% of the stock is owned by institutional investors and hedge funds.

United Technologies traded down $1.28, hitting $124.36, on Wednesday, MarketBeat.com reports. The company had a trading volume of 5,201,652 shares, compared to its average volume of 4,546,899. The company has a market cap of $99.70 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.92 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 52 week low of $109.10 and a 52 week high of $139.24.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, August 16th. United Technologies’s payout ratio is currently 42.11%.

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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Earnings History and Estimates for United Technologies (NYSE:UTX)

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