Equities analysts predict that United Technologies Corporation (NYSE:UTX) will announce $14.89 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for United Technologies Corporation’s earnings. The highest sales estimate is $15.05 billion and the lowest is $14.56 billion. United Technologies Corporation reported sales of $14.35 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The company is expected to report its next earnings results on Tuesday, October 24th.
On average, analysts expect that United Technologies Corporation will report full-year sales of $14.89 billion for the current financial year, with estimates ranging from $59.16 billion to $59.54 billion. For the next financial year, analysts anticipate that the company will report sales of $62.07 billion per share, with estimates ranging from $61.49 billion to $62.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for United Technologies Corporation.
United Technologies Corporation (NYSE:UTX) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. The business 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 company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 EPS.
UTX has been the subject of several research analyst reports. Deutsche Bank AG upped their price target on shares of United Technologies Corporation from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Morgan Stanley upped their price target on shares of United Technologies Corporation from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Vetr upgraded shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Tuesday, May 16th. Finally, Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a research report on Wednesday, May 31st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. United Technologies Corporation has a consensus rating of “Hold” and an average target price of $123.54.
Several hedge funds have recently made changes to their positions in UTX. Private Wealth Advisors Inc. boosted its position in United Technologies Corporation by 14.9% in the first quarter. Private Wealth Advisors Inc. now owns 23,551 shares of the conglomerate’s stock worth $2,643,000 after buying an additional 3,051 shares during the last quarter. Lincoln National Corp boosted its position in United Technologies Corporation by 102.1% in the first quarter. Lincoln National Corp now owns 4,961 shares of the conglomerate’s stock worth $557,000 after buying an additional 2,506 shares during the last quarter. CWM LLC boosted its position in United Technologies Corporation by 17.7% in the second quarter. CWM LLC now owns 1,397 shares of the conglomerate’s stock worth $171,000 after buying an additional 210 shares during the last quarter. American National Bank boosted its position in United Technologies Corporation by 154.5% in the first quarter. American National Bank now owns 1,845 shares of the conglomerate’s stock worth $207,000 after buying an additional 1,120 shares during the last quarter. Finally, TNB Financial bought a new position in United Technologies Corporation during the first quarter worth $957,000. Institutional investors and hedge funds own 78.69% of the company’s stock.
Shares of United Technologies Corporation (NYSE UTX) traded down 0.20% during trading on Friday, reaching $115.07. The company’s stock had a trading volume of 2,246,101 shares. The company has a market cap of $91.91 billion, a PE ratio of 17.53 and a beta of 1.06. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The company has a 50 day moving average of $119.55 and a 200 day moving average of $117.36.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio (DPR) is currently 42.68%.
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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