Analysts expect that United Technologies Co. (NYSE:UTX) will post $18.03 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for United Technologies’ earnings. The lowest sales estimate is $17.84 billion and the highest is $18.17 billion. United Technologies reported sales of $15.24 billion during the same quarter last year, which would suggest a positive year over year growth rate of 18.3%. The business is expected to announce its next earnings report on Tuesday, April 23rd.
According to Zacks, analysts expect that United Technologies will report full-year sales of $76.85 billion for the current financial year, with estimates ranging from $76.40 billion to $77.31 billion. For the next financial year, analysts expect that the company will post sales of $80.05 billion, with estimates ranging from $79.35 billion to $80.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for United Technologies.
Get United Technologies alerts:United Technologies (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.42. The firm had revenue of $18.04 billion for the quarter, compared to analyst estimates of $16.87 billion. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share.
A number of analysts recently issued reports on UTX shares. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a report on Wednesday, January 30th. Royal Bank of Canada increased their price target on shares of United Technologies to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, January 24th. Robert W. Baird lowered their price target on shares of United Technologies from $167.00 to $149.00 and set an “outperform” rating on the stock in a report on Wednesday, November 28th. Bank of America set a $180.00 price target on shares of United Technologies and gave the stock a “buy” rating in a report on Tuesday, November 27th. Finally, OTR Global downgraded shares of United Technologies to a “positive” rating in a report on Friday, January 18th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $144.85.
In other United Technologies news, EVP Michael R. Dumais sold 9,620 shares of the stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total transaction of $1,145,934.40. Following the transaction, the executive vice president now directly owns 35,627 shares of the company’s stock, valued at $4,243,888.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 862 shares of the stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $121.71, for a total transaction of $104,914.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,355 shares of company stock worth $8,538,419. Insiders own 0.17% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in United Technologies by 1.9% during the third quarter. Vanguard Group Inc. now owns 59,240,301 shares of the conglomerate’s stock worth $8,282,386,000 after purchasing an additional 1,094,947 shares during the last quarter. Vanguard Group Inc increased its position in United Technologies by 1.9% during the third quarter. Vanguard Group Inc now owns 59,240,301 shares of the conglomerate’s stock worth $8,282,386,000 after purchasing an additional 1,094,947 shares during the last quarter. BlackRock Inc. increased its position in United Technologies by 13.3% during the fourth quarter. BlackRock Inc. now owns 54,035,145 shares of the conglomerate’s stock worth $5,753,662,000 after purchasing an additional 6,347,718 shares during the last quarter. FMR LLC increased its position in United Technologies by 1.4% during the third quarter. FMR LLC now owns 26,833,527 shares of the conglomerate’s stock worth $3,751,597,000 after purchasing an additional 372,456 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in United Technologies by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,219,419 shares of the conglomerate’s stock worth $1,620,563,000 after purchasing an additional 61,785 shares during the last quarter. 83.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:UTX traded up $3.63 during midday trading on Friday, reaching $127.76. The company’s stock had a trading volume of 6,828,359 shares, compared to its average volume of 5,218,813. The firm has a market capitalization of $110.10 billion, a P/E ratio of 16.79, a PEG ratio of 1.79 and a beta of 1.17. United Technologies has a twelve month low of $100.48 and a twelve month high of $144.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.13 and a quick ratio of 0.81.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Friday, February 15th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, February 14th. United Technologies’s payout ratio is 38.63%.
About United Technologies
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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