United Technologies Corporation (NYSE:UTX) - Analysts at Jefferies Group decreased their Q3 2017 earnings per share estimates for shares of United Technologies Corporation in a research report issued on Tuesday. Jefferies Group analyst H. Rubel now expects that the conglomerate will earn $1.70 per share for the quarter, down from their previous forecast of $1.76. Jefferies Group has a “Buy” rating on the stock.
Several other equities research analysts also recently issued reports on the company. Royal Bank Of Canada boosted their price objective on United Technologies Corporation from $118.00 to $125.00 and gave the company a “sector perform” rating in a report on Thursday, April 27th. Zacks Investment Research downgraded United Technologies Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Morgan Stanley boosted their price objective on United Technologies Corporation from $120.00 to $123.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Deutsche Bank AG boosted their price objective on United Technologies Corporation from $115.00 to $120.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Vetr upgraded United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $123.54.
United Technologies Corporation (UTX) opened at 118.9099 on Friday. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The stock’s 50 day moving average price is $121.82 and its 200 day moving average price is $116.32. The stock has a market cap of $95.27 billion, a price-to-earnings ratio of 18.5160 and a beta of 1.07.
United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the consensus estimate of $1.78 by $0.07. The firm had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 earnings per share.
The company 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 $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.36%. United Technologies Corporation’s dividend payout ratio is 40.24%.
In related news, VP Robert J. Bailey sold 2,702 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total value of $322,970.06. Following the completion of the sale, the vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $597,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Philippe Delpech sold 7,696 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total value of $925,982.72. Following the completion of the sale, the insider now directly owns 63,621 shares of the company’s stock, valued at $7,654,878.72. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. boosted 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 worth $112,000 after buying an additional 125 shares during the period. Winfield Associates Inc. boosted its stake in United Technologies Corporation by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after buying an additional 29 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in 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 last quarter. Alexandria Capital LLC boosted its stake in 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 last quarter. Finally, Thomas J. Herzfeld Advisors Inc. bought a new stake in United Technologies Corporation during the fourth quarter worth $118,000. 78.39% of the stock is owned by hedge funds and other institutional investors.
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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