United Technologies Co. (NYSE:UTX) declared a quarterly dividend on Thursday, October 10th, RTT News reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.735 per share by the conglomerate on Tuesday, December 10th. This represents a $2.94 annualized dividend and a dividend yield of 2.16%.
United Technologies has increased its dividend payment by an average of 3.5% annually over the last three years and has raised its dividend every year for the last 7 years. United Technologies has a dividend payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect United Technologies to earn $8.81 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 33.4%.
United Technologies stock opened at $136.15 on Friday. The stock has a market cap of $113.87 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $132.93 and a 200-day moving average of $132.26. United Technologies has a 52 week low of $100.48 and a 52 week high of $144.40.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.16. The company had revenue of $19.63 billion during the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.97 EPS. As a group, equities analysts predict that United Technologies will post 8.03 earnings per share for the current fiscal year.
UTX has been the topic of several research reports. Vertical Research raised United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Friday, June 14th. Credit Suisse Group assumed coverage on United Technologies in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $164.00 target price on the stock. JPMorgan Chase & Co. increased their target price on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday. Cowen reissued a “buy” rating and set a $150.00 price target on shares of United Technologies in a report on Wednesday, September 4th. Finally, Wolfe Research set a $152.00 price target on United Technologies and gave the company a “buy” rating in a report on Wednesday, September 18th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. United Technologies has an average rating of “Buy” and a consensus price target of $154.81.
In other news, CEO Gregory Hayes sold 19,542 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $133.35, for a total transaction of $2,605,925.70. Following the completion of the sale, the chief executive officer now directly owns 246,111 shares of the company’s stock, valued at approximately $32,818,901.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael R. Dumais sold 4,329 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $130.98, for a total value of $567,012.42. Following the sale, the executive vice president now directly owns 39,265 shares of the company’s stock, valued at $5,142,929.70. The disclosure for this sale can be found here. Insiders have sold 103,123 shares of company stock valued at $13,787,015 in the last ninety days. Company insiders own 0.15% of the company’s stock.
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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