Wall Street brokerages expect United Technologies Corporation (NYSE:UTX) to announce $1.77 earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for United Technologies Corporation’s earnings, with the highest EPS estimate coming in at $1.83 and the lowest estimate coming in at $1.73. United Technologies Corporation reported earnings of $1.82 per share during the same quarter last year, which would indicate a negative year over year growth rate of 2.7%. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, July 25th.
According to Zacks, analysts expect that United Technologies Corporation will report full-year earnings of $6.58 per share for the current year, with EPS estimates ranging from $6.45 to $6.61. For the next year, analysts expect that the firm will report earnings of $7.05 per share, with EPS estimates ranging from $6.90 to $7.30. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover United Technologies Corporation.
United Technologies Corporation (NYSE:UTX) last released its quarterly earnings data on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.09. United Technologies Corporation had a net margin of 9.10% and a return on equity of 18.10%. The firm had revenue of $13.82 billion for the quarter, compared to the consensus estimate of $13.50 billion. During the same period last year, the firm earned $1.47 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis.
A number of research analysts recently weighed in on UTX shares. Zacks Investment Research upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a report on Tuesday, May 16th. UBS AG boosted their price target on shares of United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Royal Bank Of Canada reiterated a “neutral” rating on shares of United Technologies Corporation in a report on Thursday, April 27th. Morgan Stanley boosted their price target on shares of United Technologies Corporation from $120.00 to $123.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Finally, Cowen and Company boosted their price target on shares of United Technologies Corporation from $120.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, March 24th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $122.60.
United Technologies Corporation (NYSE UTX) traded down 0.28% during trading on Friday, hitting $123.07. 1,253,195 shares of the stock were exchanged. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The stock’s 50 day moving average price is $121.16 and its 200 day moving average price is $114.71. The stock has a market cap of $98.61 billion, a P/E ratio of 19.16 and a beta of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.27%. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio (DPR) is currently 41.19%.
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In other news, insider Philippe Delpech sold 7,696 shares of United Technologies Corporation stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $120.32, for a total transaction of $925,982.72. Following the completion of the sale, the insider now directly owns 63,621 shares in the company, valued at approximately $7,654,878.72. 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 United Technologies Corporation stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $119.53, for a total value of $322,970.06. Following the sale, 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. Insiders own 0.16% of the company’s stock.
Large investors have recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. raised its stake in 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 position in shares of United Technologies Corporation by 2.7% in the fourth quarter. Tortoise Investment Management LLC now owns 1,031 shares of the conglomerate’s stock worth $113,000 after buying an additional 27 shares during the period. Northwest Quadrant Wealth Management LLC acquired a new position in shares of United Technologies Corporation during the fourth quarter worth approximately $115,000. Thomas J. Herzfeld Advisors Inc. acquired a new position in shares of United Technologies Corporation during the fourth quarter worth approximately $118,000. Finally, Alexandria Capital LLC raised its position 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 worth $121,000 after buying an additional 4 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.
United Technologies Corporation Company Profile
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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