United Technologies (NYSE:UTX) issued an update on its FY18 earnings guidance on Friday morning. The company provided earnings per share guidance of $6.85-7.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.07. The company issued revenue guidance of $62.5-64.0 billion, compared to the consensus revenue estimate of $63.56 billion.
Shares of United Technologies (NYSE UTX) opened at $129.39 on Friday. United Technologies has a 52 week low of $109.10 and a 52 week high of $139.24. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. The firm has a market cap of $103,635.27, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, beating the 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 firm had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. equities research analysts predict that United Technologies will post 7.05 EPS for the current year.
Several equities research analysts have weighed in on UTX shares. Atlantic Securities raised shares of United Technologies from a neutral rating to an overweight rating in a research note on Tuesday, December 5th. Royal Bank of Canada raised shares of United Technologies from a sector perform rating to an outperform rating in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Robert W. Baird raised shares of United Technologies from a neutral rating to an outperform rating in a research note on Friday, January 5th. Goldman Sachs Group raised shares of United Technologies from a neutral rating to a buy rating in a research note on Monday, January 8th. Finally, Zacks Investment Research raised shares of United Technologies from a hold rating to a buy rating and set a $151.00 price target for the company in a research note on Saturday, January 20th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $137.00.
In other news, VP Robert J. Bailey sold 2,032 shares of United Technologies stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the completion of the transaction, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in UTX. FMR LLC boosted its holdings in United Technologies by 13.2% during the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares during the last quarter. Vanguard Group Inc. boosted its holdings in United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after purchasing an additional 848,623 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in United Technologies by 50.9% during the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock worth $274,067,000 after purchasing an additional 756,600 shares during the last quarter. Capital Research Global Investors boosted its holdings in United Technologies by 3.6% during the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock worth $1,072,082,000 after purchasing an additional 304,989 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in United Technologies by 799.8% during the second quarter. Thrivent Financial For Lutherans now owns 263,476 shares of the conglomerate’s stock worth $32,173,000 after purchasing an additional 234,194 shares during the last quarter. Institutional investors and hedge funds own 82.38% of the company’s stock.
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About United Technologies
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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