United Technologies (UTX) Updates FY18 Earnings Guidance

United Technologies (NYSE:UTX) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of $6.95-7.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.05. The company issued revenue guidance of $63.0-64.5 billion, compared to the consensus revenue estimate of $64.01 billion.

Several research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of United Technologies from a hold rating to a sell rating in a research note on Friday, April 13th. ValuEngine raised shares of United Technologies from a hold rating to a buy rating in a research note on Friday, February 2nd. Stifel Nicolaus reissued a hold rating and set a $146.00 price objective (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Cowen reissued a hold rating and set a $141.00 price objective on shares of United Technologies in a research note on Thursday, January 25th. Finally, UBS initiated coverage on shares of United Technologies in a research note on Tuesday, January 23rd. They set a buy rating and a $158.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. United Technologies presently has a consensus rating of Buy and an average price target of $139.07.

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Shares of UTX stock opened at $123.46 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35. The company has a market cap of $98,436.72, a price-to-earnings ratio of 18.57, a P/E/G ratio of 1.86 and a beta of 1.08. United Technologies has a 52 week low of $109.10 and a 52 week high of $139.24.



United Technologies (NYSE:UTX) last posted its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The company had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same period last year, the company earned $1.56 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. analysts forecast that United Technologies will post 7.04 EPS for the current year.

In other news, VP Robert J. Bailey sold 2,032 shares of United Technologies stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.95, for a total value of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of UTX. FMR LLC raised its holdings in shares of United Technologies by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after purchasing an additional 2,401,795 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of United Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after purchasing an additional 848,623 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of United Technologies by 50.9% in the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock valued at $274,067,000 after purchasing an additional 756,600 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of United Technologies by 3.6% in the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after purchasing an additional 304,989 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in shares of United Technologies by 799.8% in the second quarter. Thrivent Financial For Lutherans now owns 263,476 shares of the conglomerate’s stock valued at $32,173,000 after purchasing an additional 234,194 shares during the last quarter. Institutional investors own 81.88% of the company’s stock.

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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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