Analysts expect United Technologies Co. (NYSE:UTX) to report earnings per share (EPS) of $1.75 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for United Technologies’ earnings, with the lowest EPS estimate coming in at $1.72 and the highest estimate coming in at $1.77. United Technologies posted earnings of $1.77 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 1.1%. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, April 23rd.
According to Zacks, analysts expect that United Technologies will report full year earnings of $7.92 per share for the current year, with EPS estimates ranging from $7.80 to $8.00. For the next fiscal year, analysts anticipate that the company will report earnings of $8.70 per share, with EPS estimates ranging from $8.35 to $9.00. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for United Technologies.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.42. The firm had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $16.87 billion. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share.
Several equities research analysts have commented on the stock. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. started coverage on United Technologies in a report on Friday, February 22nd. They issued an “overweight” rating and a $132.00 target price for the company. Goldman Sachs Group upgraded United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 target price for the company in a report on Friday, February 1st. Royal Bank of Canada increased their price target on United Technologies to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, January 24th. Finally, Bank of America reiterated a “buy” rating and set a $185.00 price target on shares of United Technologies in a report on Thursday, January 24th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. United Technologies has a consensus rating of “Buy” and an average price target of $144.00.
In other United Technologies news, VP Robert J. Bailey sold 1,418 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $126.20, for a total transaction of $178,951.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Gregory Hayes sold 35,942 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $123.81, for a total transaction of $4,449,979.02. The disclosure for this sale can be found here. Insiders sold 97,770 shares of company stock worth $12,153,044 over the last ninety days. 0.15% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. WESPAC Advisors SoCal LLC acquired a new stake in shares of United Technologies during the fourth quarter worth $26,000. Guidant Wealth Advisors lifted its stake in shares of United Technologies by 64.9% in the fourth quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Braun Bostich & Associates Inc. lifted its stake in shares of United Technologies by 73.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock valued at $39,000 after buying an additional 154 shares in the last quarter. Massey Quick Simon & CO. LLC bought a new position in shares of United Technologies in the first quarter valued at $47,000. Finally, Sageworth Trust Co bought a new position in shares of United Technologies in the first quarter valued at $50,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
UTX traded down $0.77 during trading on Monday, hitting $136.23. The company had a trading volume of 12,759 shares, compared to its average volume of 2,703,364. The stock has a market capitalization of $118.14 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.97 and a beta of 1.20. United Technologies has a one year low of $100.48 and a one year high of $144.15. The company has a current ratio of 1.13, a quick ratio of 0.81 and a debt-to-equity ratio of 1.01.
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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