Analysts predict that United Technologies Co. (NYSE:UTX) will post earnings of $2.02 per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for United Technologies’ earnings. The highest EPS estimate is $2.07 and the lowest is $1.94. United Technologies posted earnings per share of $1.93 during the same quarter last year, which would indicate a positive year over year growth rate of 4.7%. The company is expected to announce its next earnings results on Tuesday, October 22nd.
On average, analysts expect that United Technologies will report full year earnings of $8.03 per share for the current fiscal year, with EPS estimates ranging from $7.90 to $8.19. For the next financial year, analysts anticipate that the firm will post earnings of $8.81 per share, with EPS estimates ranging from $8.68 to $9.05. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for United Technologies.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The firm had revenue of $19.63 billion for the quarter, compared to analysts’ expectations of $19.58 billion. During the same period in the prior year, the company earned $1.97 EPS. The firm’s revenue was up 17.5% on a year-over-year basis.
A number of brokerages have recently weighed in on UTX. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Friday, June 14th. Morgan Stanley lifted their price objective on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Monday, June 10th. Bank of America reiterated a “buy” rating and set a $195.00 target price (up previously from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Finally, Cowen reissued a “buy” rating and set a $150.00 price target on shares of United Technologies in a research report on Wednesday, September 4th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $152.21.
Shares of NYSE UTX traded up $2.04 on Friday, hitting $135.95. The company’s stock had a trading volume of 2,752,712 shares, compared to its average volume of 3,661,692. The stock has a 50 day moving average of $130.05 and a 200-day moving average of $130.91. The company has a market capitalization of $115.55 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. United Technologies has a 12-month low of $100.48 and a 12-month high of $144.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74.
In related news, EVP Elizabeth B. Amato sold 4,298 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $135.71, for a total value of $583,281.58. Following the completion of the transaction, the executive vice president now directly owns 30,847 shares in the company, valued at $4,186,246.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 831 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $135.09, for a total value of $112,259.79. Following the transaction, the vice president now owns 2,000 shares in the company, valued at $270,180. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,567 shares of company stock worth $8,030,281. 0.15% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC grew its stake in United Technologies by 1,510.6% during the second quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock worth $433,442,000 after buying an additional 3,122,355 shares during the last quarter. Clearbridge Investments LLC raised its holdings in United Technologies by 170.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock valued at $511,966,000 after buying an additional 2,503,654 shares during the period. Geode Capital Management LLC raised its holdings in United Technologies by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after buying an additional 1,293,517 shares during the period. Balyasny Asset Management LLC lifted its position in United Technologies by 159.5% in the second quarter. Balyasny Asset Management LLC now owns 1,883,732 shares of the conglomerate’s stock valued at $245,262,000 after buying an additional 1,157,940 shares during the last quarter. Finally, Thoroughbred Financial Services LLC lifted its position in United Technologies by 13,200.8% in the second quarter. Thoroughbred Financial Services LLC now owns 1,096,914 shares of the conglomerate’s stock valued at $109,691,000 after buying an additional 1,088,667 shares during the last quarter. 80.72% of the stock is owned by institutional investors.
United Technologies Company Profile
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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