United Technologies Corp. Expected to Post FY2017 Earnings of $6.75 Per Share (UTX)
United Technologies Corp. (NYSE:UTX) – Equities researchers at William Blair decreased their FY2017 earnings per share estimates for United Technologies Corp. in a note issued to investors on Thursday. William Blair analyst N. Heymann now expects that the firm will post earnings per share of $6.75 for the year, down from their prior forecast of $6.95.
A number of other analysts also recently commented on UTX. Zacks Investment Research downgraded shares of United Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Jefferies Group restated a “buy” rating on shares of United Technologies Corp. in a research report on Tuesday, July 5th. Credit Suisse Group AG restated a “hold” rating on shares of United Technologies Corp. in a research report on Saturday, July 9th. Bank of America Corp. restated a “buy” rating and set a $130.00 price target (up from $115.00) on shares of United Technologies Corp. in a research report on Wednesday, July 27th. Finally, Barclays PLC lifted their price objective on shares of United Technologies Corp. from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $110.04.
United Technologies Corp. (NYSE:UTX) opened at 100.16 on Monday. The stock has a market cap of $83.83 billion, a P/E ratio of 11.81 and a beta of 1.11. United Technologies Corp. has a 52 week low of $83.39 and a 52 week high of $109.83. The company’s 50 day moving average is $102.80 and its 200 day moving average is $103.25.
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United Technologies Corp. (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.14. The business had revenue of $14.90 billion for the quarter, compared to the consensus estimate of $14.67 billion. United Technologies Corp. had a net margin of 12.79% and a return on equity of 18.14%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Wednesday, November 16th. United Technologies Corp.’s dividend payout ratio (DPR) is presently 31.13%.
In other news, VP Charles D. Gill sold 6,202 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $109.00, for a total value of $676,018.00. Following the completion of the sale, the vice president now directly owns 51,778 shares in the company, valued at $5,643,802. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert J. Mcdonough sold 3,100 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $107.11, for a total transaction of $332,041.00. Following the completion of the sale, the insider now owns 11,349 shares of the company’s stock, valued at $1,215,591.39. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new stake in shares of United Technologies Corp. during the second quarter worth $103,000. Coconut Grove Bank boosted its stake in shares of United Technologies Corp. by 5.8% in the second quarter. Coconut Grove Bank now owns 1,037 shares of the company’s stock worth $106,000 after buying an additional 57 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in shares of United Technologies Corp. by 6.1% in the second quarter. Tortoise Investment Management LLC now owns 1,065 shares of the company’s stock worth $109,000 after buying an additional 61 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. boosted its stake in shares of United Technologies Corp. by 181.1% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,071 shares of the company’s stock worth $110,000 after buying an additional 690 shares during the last quarter. Finally, Orrstown Financial Services Inc. boosted its stake in shares of United Technologies Corp. by 35.6% in the second quarter. Orrstown Financial Services Inc. now owns 1,085 shares of the company’s stock worth $111,000 after buying an additional 285 shares during the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.
About United Technologies Corp.
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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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