Equities research analysts expect United Technologies Corporation (NYSE:UTX) to post $1.77 earnings per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for United Technologies Corporation’s earnings, with the highest EPS estimate coming in at $1.83 and the lowest estimate coming in at $1.73. United Technologies Corporation reported earnings of $1.82 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 2.7%. The firm is scheduled to report its next quarterly earnings report before the market opens on Tuesday, July 25th.
According to Zacks, analysts expect that United Technologies Corporation will report full year earnings of $6.58 per share for the current financial year, with EPS estimates ranging from $6.45 to $6.61. For the next financial year, analysts anticipate that the firm will report earnings of $7.05 per share, with EPS estimates ranging from $6.90 to $7.30. Zacks’ EPS averages are an average based on a survey of research analysts that cover United Technologies Corporation.
United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings data on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. The firm had revenue of $13.82 billion during the quarter, compared to analysts’ expectations of $13.50 billion. United Technologies Corporation had a return on equity of 18.10% and a net margin of 9.10%. United Technologies Corporation’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.47 earnings per share.
UTX has been the subject of a number of research analyst reports. Cowen and Company upped their target price on United Technologies Corporation from $120.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, March 24th. Royal Bank Of Canada restated a “hold” rating and issued a $118.00 target price on shares of United Technologies Corporation in a research report on Friday, March 24th. Vetr downgraded United Technologies Corporation from a “hold” rating to a “sell” rating and set a $108.06 target price for the company. in a research report on Monday, March 27th. Zacks Investment Research downgraded United Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $132.00 target price (up from $126.00) on shares of United Technologies Corporation in a research report on Thursday, April 27th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. United Technologies Corporation currently has a consensus rating of “Hold” and an average target price of $122.60.
Shares of United Technologies Corporation (NYSE:UTX) traded up 0.28% during trading on Friday, reaching $123.41. The company had a trading volume of 1,743,113 shares. The stock has a market capitalization of $98.88 billion, a PE ratio of 19.22 and a beta of 1.07. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $123.64. The stock’s 50-day moving average price is $121.16 and its 200-day moving average price is $114.71.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. United Technologies Corporation’s dividend payout ratio is 41.19%.
In other news, VP Robert J. Bailey sold 2,702 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $119.53, for a total value of $322,970.06. Following the transaction, the vice president now directly owns 5,000 shares of the company’s stock, valued at $597,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Philippe Delpech sold 7,696 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $120.32, for a total transaction of $925,982.72. Following the completion of the transaction, the insider now directly owns 63,621 shares in the company, valued at $7,654,878.72. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
Several institutional investors have recently bought and sold shares of UTX. Massmutual Trust Co. FSB ADV bought a new position in United Technologies Corporation during the fourth quarter worth $2,675,000. Credit Agricole S A increased its position in United Technologies Corporation by 12.0% in the fourth quarter. Credit Agricole S A now owns 1,108,640 shares of the conglomerate’s stock worth $121,530,000 after buying an additional 118,848 shares during the period. Exchange Capital Management Inc. increased its position in United Technologies Corporation by 1.4% in the fourth quarter. Exchange Capital Management Inc. now owns 39,083 shares of the conglomerate’s stock worth $4,284,000 after buying an additional 557 shares during the period. Northwest Quadrant Wealth Management LLC bought a new position in United Technologies Corporation during the fourth quarter worth $115,000. Finally, Smith Shellnut Wilson LLC ADV bought a new position in United Technologies Corporation during the fourth quarter worth $206,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.
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About United Technologies Corporation
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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