$14.89 Billion in Sales Expected for United Technologies Corporation (UTX) This Quarter

Analysts expect that United Technologies Corporation (NYSE:UTX) will post sales of $14.89 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for United Technologies Corporation’s earnings, with the lowest sales estimate coming in at $14.56 billion and the highest estimate coming in at $15.05 billion. United Technologies Corporation posted sales of $14.35 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.8%. The business is scheduled to report its next earnings report on Tuesday, October 24th.

On average, analysts expect that United Technologies Corporation will report full year sales of $14.89 billion for the current year, with estimates ranging from $59.16 billion to $59.54 billion. For the next financial year, analysts forecast that the firm will post sales of $62.57 billion per share, with estimates ranging from $61.49 billion to $66.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow United Technologies Corporation.

United Technologies Corporation (NYSE:UTX) last released its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The firm had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 EPS.

A number of research analysts have recently weighed in on UTX shares. Zacks Investment Research upgraded United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a report on Tuesday, May 16th. Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a report on Wednesday, May 31st. Royal Bank Of Canada restated a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a report on Friday, June 2nd. Finally, HSBC Holdings plc started coverage on United Technologies Corporation in a report on Monday, June 12th. They issued a “hold” rating and a $125.00 target price on the stock. Sixteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $124.48.

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Shares of United Technologies Corporation (UTX) opened at 109.86 on Wednesday. The company has a market cap of $87.75 billion, a PE ratio of 16.73 and a beta of 1.05. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The firm has a 50-day moving average price of $116.88 and a 200 day moving average price of $117.62.

Large investors have recently added to or reduced their stakes in the business. PGGM Investments increased its position in United Technologies Corporation by 52.4% in the second quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock worth $91,486,000 after buying an additional 257,582 shares during the last quarter. Huntington National Bank grew its position in shares of United Technologies Corporation by 3.7% in the second quarter. Huntington National Bank now owns 284,531 shares of the conglomerate’s stock valued at $34,744,000 after purchasing an additional 10,025 shares in the last quarter. Private Wealth Advisors Inc. grew its position in shares of United Technologies Corporation by 14.9% in the first quarter. Private Wealth Advisors Inc. now owns 23,551 shares of the conglomerate’s stock valued at $2,643,000 after purchasing an additional 3,051 shares in the last quarter. Smith Moore & CO. grew its position in shares of United Technologies Corporation by 11.7% in the first quarter. Smith Moore & CO. now owns 2,701 shares of the conglomerate’s stock valued at $303,000 after purchasing an additional 282 shares in the last quarter. Finally, Lincoln National Corp grew its position in shares of United Technologies Corporation by 102.1% in the first quarter. Lincoln National Corp now owns 4,961 shares of the conglomerate’s stock valued at $557,000 after purchasing an additional 2,506 shares in the last quarter. 78.85% of the stock is owned by institutional investors and hedge funds.

United Technologies Corporation Company Profile

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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Earnings History and Estimates for United Technologies Corporation (NYSE:UTX)

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