Brokerages Anticipate United Technologies Co. (UTX) Will Announce Quarterly Sales of $15.39 Billion
Analysts forecast that United Technologies Co. (NYSE:UTX) will post $15.39 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for United Technologies’ earnings, with the highest sales estimate coming in at $15.48 billion and the lowest estimate coming in at $15.16 billion. United Technologies posted sales of $14.66 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The company is scheduled to report its next earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that United Technologies will report full year sales of $15.39 billion for the current year, with estimates ranging from $59.25 billion to $60.02 billion. For the next year, analysts expect that the company will report sales of $62.88 billion per share, with estimates ranging from $62.03 billion to $63.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow United Technologies.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same period in the prior year, the firm earned $1.76 EPS. The firm’s revenue was up 4.9% on a year-over-year basis.
In other United Technologies news, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total value of $361,246.28. Following the sale, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert J. Bailey sold 827 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,261 shares of company stock worth $1,363,783. 0.16% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Knowledge Leaders Capital LLC purchased a new stake in shares of United Technologies during the 3rd quarter worth about $105,000. Tortoise Investment Management LLC boosted its stake in shares of United Technologies by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after acquiring an additional 48 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of United Technologies during the 3rd quarter worth about $118,000. Seven Bridges Advisors LLC purchased a new stake in shares of United Technologies during the 2nd quarter worth about $120,000. Finally, Thompson Davis & CO. Inc. boosted its stake in shares of United Technologies by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after acquiring an additional 953 shares in the last quarter. 80.20% of the stock is currently owned by institutional investors.
United Technologies (UTX) opened at $126.17 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91. United Technologies has a 12-month low of $106.85 and a 12-month high of $126.44. The stock has a market capitalization of $100,760.00, a price-to-earnings ratio of 18.78, a P/E/G ratio of 2.24 and a beta of 1.07.
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, November 16th. United Technologies’s payout ratio is 43.34%.
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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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