$1.77 Earnings Per Share Expected for United Technologies Co. (UTX) This Quarter
Wall Street analysts forecast that United Technologies Co. (NYSE:UTX) will post earnings of $1.77 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for United Technologies’ earnings, with the lowest EPS estimate coming in at $1.73 and the highest estimate coming in at $1.82. United Technologies posted 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 expected to announce its next quarterly earnings results on Tuesday, July 25th.
On average, analysts expect that United Technologies will report full-year earnings of $6.57 per share for the current fiscal year, with EPS estimates ranging from $6.45 to $6.60. For the next financial year, analysts forecast that the firm will post 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 analysts that that provide coverage for United Technologies.
United Technologies (NYSE:UTX) last released its earnings results on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.09. United Technologies had a net margin of 8.83% and a return on equity of 18.13%. The business had revenue of $13.82 billion for the quarter, compared to analysts’ expectations of $13.50 billion. During the same period last year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis.
Several equities research analysts recently commented on UTX shares. Stifel Nicolaus lowered their price target on United Technologies from $119.00 to $116.00 and set a “hold” rating for the company in a research note on Friday, January 27th. Barclays PLC boosted their price target on United Technologies from $111.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, January 26th. Cowen and Company boosted their price target on United Technologies from $120.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, March 24th. Royal Bank of Canada reissued a “hold” rating and issued a $118.00 price target on shares of United Technologies in a research note on Friday, March 24th. Finally, Vetr cut United Technologies from a “hold” rating to a “sell” rating and set a $108.06 price target for the company. in a research note on Monday, March 27th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $119.94.
United Technologies (NYSE:UTX) traded up 0.057% during midday trading on Thursday, hitting $122.149. 961,312 shares of the company traded hands. United Technologies has a 12-month low of $96.89 and a 12-month high of $122.84. The stock has a 50 day moving average price of $117.74 and a 200-day moving average price of $112.25. The company has a market cap of $97.87 billion, a PE ratio of 19.020 and a beta of 1.09.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Stockholders of record on Friday, May 19th will be issued a dividend of $0.66 per share. The ex-dividend date is Wednesday, May 17th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.16%. United Technologies’s dividend payout ratio (DPR) is presently 43.21%.
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In other news, VP Robert J. Bailey sold 1,022 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $112.26, for a total transaction of $114,729.72. Following the completion of the transaction, the vice president now directly owns 2,000 shares in the company, valued at $224,520. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 2,702 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total value of $322,970.06. Following the transaction, the vice president now owns 5,000 shares of the company’s stock, valued at $597,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,420 shares of company stock valued at $1,363,683. Corporate insiders own 0.15% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cable Hill Partners LLC raised its position in shares of United Technologies by 79.2% in the third quarter. Cable Hill Partners LLC now owns 2,116 shares of the conglomerate’s stock worth $216,000 after buying an additional 935 shares during the period. Viking Global Investors LP acquired a new position in shares of United Technologies during the fourth quarter worth approximately $59,353,000. Marshall & Sullivan Inc. WA raised its position in shares of United Technologies by 0.6% in the fourth quarter. Marshall & Sullivan Inc. WA now owns 26,507 shares of the conglomerate’s stock worth $2,905,000 after buying an additional 150 shares during the period. Quadrature Capital Ltd raised its position in shares of United Technologies by 292.2% in the third quarter. Quadrature Capital Ltd now owns 144,305 shares of the conglomerate’s stock worth $14,660,000 after buying an additional 107,515 shares during the period. Finally, Sullivan Bruyette Speros & Blaney LLC raised its position in shares of United Technologies by 18.2% in the fourth quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,961 shares of the conglomerate’s stock worth $434,000 after buying an additional 609 shares during the period. Institutional investors own 79.89% of the company’s stock.
About United Technologies
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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