United Technologies Co. (UTX) Issues FY14 Earnings Guidance
United Technologies Co. (NYSE:UTX) updated its FY14 earnings guidance on Wednesday. The company provided earnings per share guidance of $6.65-6.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.85, Analyst Ratings.Net reports.
Shares of United Technologies Co. (NYSE:UTX) traded up 0.19% during mid-day trading on Wednesday, hitting $117.23. 2,896,281 shares of the company’s stock traded hands. United Technologies Co. has a 52-week low of $90.30 and a 52-week high of $120.66. The stock’s 50-day moving average is $116.8 and its 200-day moving average is $114.7. The company has a market cap of $107.5 billion and a P/E ratio of 18.93.
United Technologies (NYSE:UTX) last released its earnings data on Tuesday, April 22nd. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. The company had revenue of $14.75 billion for the quarter, compared to the consensus estimate of $14.74 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts predict that United Technologies Co. will post $6.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Wednesday, August 13th.
A number of analysts have recently weighed in on UTX shares. Analysts at Zacks reiterated a neutral rating on shares of United Technologies in a research note on Thursday, April 24th. They now have a $126.00 price target on the stock. On a related note, analysts at JPMorgan Chase & Co. reiterated an overweight rating on shares of United Technologies in a research note on Wednesday, April 23rd. They now have a $125.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a buy rating on shares of United Technologies in a research note on Wednesday, April 23rd. They now have a $127.00 price target on the stock. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $125.26.
In other United Technologies news, COO Paul R. Adams unloaded 9,697 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $119.04, for a total transaction of $1,154,330.88. The transaction was disclosed in a filing with the SEC, which is available at this link.
United Technologies Corporation (NYSE:UTX) provides high technology products and services to the building systems and aerospace industries worldwide.
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