Analysts Anticipate United Technologies Co. (UTX) to Announce $1.78 Earnings Per Share

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Equities analysts expect that United Technologies Co. (NYSE:UTX) will report earnings of $1.78 per share for the current quarter, Zacks reports. Three analysts have made estimates for United Technologies’ earnings, with estimates ranging from $1.74 to $1.84. United Technologies reported earnings of $1.77 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 0.6%. The firm is expected to report its next quarterly earnings report on Tuesday, April 23rd.

On average, analysts expect that United Technologies will report full year earnings of $7.91 per share for the current fiscal year, with EPS estimates ranging from $7.80 to $8.00. For the next fiscal year, analysts forecast that the business will post earnings of $8.67 per share, with EPS estimates ranging from $8.35 to $9.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover United Technologies.

United Technologies (NYSE:UTX) last announced its earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.42. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. The company had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $16.87 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. Wolfe Research set a $147.00 target price on shares of United Technologies and gave the stock a “buy” rating in a research note on Monday, November 26th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. Jefferies Financial Group set a $148.00 target price on shares of United Technologies and gave the stock a “buy” rating in a research note on Tuesday, November 27th. Royal Bank of Canada lowered their target price on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Finally, Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $144.85.

UTX traded down $0.21 on Wednesday, hitting $128.43. 6,301,071 shares of the company’s stock were exchanged, compared to its average volume of 5,276,341. United Technologies has a fifty-two week low of $100.48 and a fifty-two week high of $144.15. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 1.01. The stock has a market cap of $110.10 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17.

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 10th. Stockholders of record on Friday, February 15th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, February 14th. This represents a $2.94 annualized dividend and a dividend yield of 2.29%. United Technologies’s payout ratio is 38.63%.

In other news, EVP Michael R. Dumais sold 9,620 shares of the business’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total transaction of $1,145,934.40. Following the transaction, the executive vice president now owns 35,627 shares of the company’s stock, valued at approximately $4,243,888.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Robert J. Bailey sold 862 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $121.71, for a total transaction of $104,914.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,355 shares of company stock worth $8,538,419. Corporate insiders own 0.17% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. WESPAC Advisors SoCal LLC purchased a new stake in United Technologies during the fourth quarter worth about $26,000. Guidant Wealth Advisors increased its stake in United Technologies by 64.9% during the fourth quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 100 shares during the period. Braun Bostich & Associates Inc. increased its stake in United Technologies by 73.0% during the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 154 shares during the period. Financial Gravity Companies Inc. purchased a new stake in United Technologies during the fourth quarter worth about $51,000. Finally, Murphy Pohlad Asset Management LLC purchased a new stake in United Technologies during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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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