Brokerages forecast that United Technologies Corporation (NYSE:UTX) will report $14.89 billion in sales for the current quarter, Zacks reports. Six analysts have issued estimates for United Technologies Corporation’s earnings, with estimates ranging from $14.56 billion to $15.05 billion. United Technologies Corporation reported sales of $14.35 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The business is scheduled to report its next earnings report on Tuesday, October 24th.

On average, analysts expect that United Technologies Corporation will report full year sales of $14.89 billion for the current year, with estimates ranging from $59.16 billion to $59.54 billion. For the next year, analysts anticipate that the company will post sales of $62.07 billion per share, with estimates ranging from $61.49 billion to $62.66 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover United Technologies Corporation.

United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the firm posted $1.82 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year.

Several research analysts have issued reports on the stock. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $132.00 target price (up from $126.00) on shares of United Technologies Corporation in a report on Thursday, April 27th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a report on Friday, June 2nd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $135.00 target price (up from $130.00) on shares of United Technologies Corporation in a report on Friday, July 21st. Finally, Deutsche Bank AG lifted their target price on shares of United Technologies Corporation from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. United Technologies Corporation presently has an average rating of “Hold” and a consensus price target of $123.54.

A number of hedge funds have recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. raised its stake in shares of United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares during the period. Tortoise Investment Management LLC raised its stake in shares of United Technologies Corporation by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after buying an additional 48 shares during the period. Seven Bridges Advisors LLC acquired a new stake in shares of United Technologies Corporation during the second quarter valued at about $120,000. Alexandria Capital LLC raised its stake in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares during the period. Finally, Winfield Associates Inc. raised its stake in shares of United Technologies Corporation by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after buying an additional 29 shares during the period. Institutional investors own 78.45% of the company’s stock.

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Shares of United Technologies Corporation (NYSE UTX) opened at 121.49 on Monday. The company has a market capitalization of $97.04 billion, a P/E ratio of 18.51 and a beta of 1.06. The firm has a 50-day moving average of $121.70 and a 200-day moving average of $116.57. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.30%. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s payout ratio is 40.24%.

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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Earnings History and Estimates for United Technologies Corporation (NYSE:UTX)

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