Wall Street brokerages expect United Technologies Co. (NYSE:UTX) to announce sales of $19.24 billion for the current quarter, Zacks reports. Five analysts have issued estimates for United Technologies’ earnings. The highest sales estimate is $19.44 billion and the lowest is $18.89 billion. United Technologies posted sales of $16.51 billion in the same quarter last year, which suggests a positive year over year growth rate of 16.5%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 22nd.
According to Zacks, analysts expect that United Technologies will report full year sales of $77.13 billion for the current fiscal year, with estimates ranging from $76.66 billion to $77.59 billion. For the next financial year, analysts anticipate that the business will post sales of $80.23 billion, with estimates ranging from $79.32 billion to $81.03 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow United Technologies.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. During the same quarter last year, the company earned $1.97 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis.
UTX has been the topic of a number of research reports. Zacks Investment Research downgraded United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target on the stock. in a research note on Friday, July 19th. Royal Bank of Canada restated a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a research note on Wednesday, April 24th. Morgan Stanley raised their price target on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Friday, June 14th. Finally, Barclays raised their price target on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $152.21.
In related news, EVP Elizabeth B. Amato sold 4,298 shares of United Technologies stock in a transaction on Monday, July 29th. The stock was sold at an average price of $135.71, for a total transaction of $583,281.58. Following the completion of the transaction, the executive vice president now directly owns 30,847 shares of the company’s stock, valued at $4,186,246.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael R. Dumais sold 4,329 shares of United Technologies stock in a transaction on Friday, August 9th. The stock was sold at an average price of $130.98, for a total value of $567,012.42. Following the transaction, the executive vice president now directly owns 39,265 shares of the company’s stock, valued at $5,142,929.70. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of UTX. Phocas Financial Corp. acquired a new position in United Technologies during the second quarter worth $25,000. Krane Funds Advisors LLC acquired a new position in shares of United Technologies in the second quarter worth $26,000. Transamerica Financial Advisors Inc. acquired a new position in shares of United Technologies in the second quarter worth $30,000. Quad Cities Investment Group LLC raised its holdings in shares of United Technologies by 62.1% in the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. Finally, Manchester Financial Inc. acquired a new position in shares of United Technologies in the second quarter worth $35,000. 80.13% of the stock is owned by hedge funds and other institutional investors.
NYSE:UTX traded up $0.65 during mid-day trading on Friday, reaching $127.33. 1,560,115 shares of the stock were exchanged, compared to its average volume of 3,756,703. The company has a 50 day simple moving average of $131.20 and a 200-day simple moving average of $130.32. The stock has a market capitalization of $107.90 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.77 and a beta of 1.20. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. United Technologies has a 1 year low of $100.48 and a 1 year high of $144.40.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.31%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.
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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