United Technologies Corp. Expected to Post FY2017 Earnings of $6.75 Per Share (UTX)
United Technologies Corp. (NYSE:UTX) – Equities researchers at William Blair dropped their FY2017 EPS estimates for United Technologies Corp. in a note issued to investors on Thursday. William Blair analyst N. Heymann now expects that the firm will post earnings of $6.75 per share for the year, down from their prior forecast of $6.95.
Other equities research analysts have also issued research reports about the company. Jefferies Group restated a “buy” rating and set a $118.00 target price on shares of United Technologies Corp. in a research report on Wednesday, July 27th. Bank of America Corp. reiterated a “buy” rating and issued a $130.00 price target (up previously from $115.00) on shares of United Technologies Corp. in a report on Wednesday, July 27th. Barclays PLC increased their price target on United Technologies Corp. from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 27th. Zacks Investment Research upgraded United Technologies Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of United Technologies Corp. in a report on Saturday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. United Technologies Corp. currently has an average rating of “Hold” and an average target price of $110.04.
United Technologies Corp. (NYSE:UTX) opened at 100.16 on Monday. United Technologies Corp. has a 52 week low of $83.39 and a 52 week high of $109.83. The stock’s 50 day moving average price is $102.80 and its 200 day moving average price is $103.25. The company has a market capitalization of $83.83 billion, a P/E ratio of 11.81 and a beta of 1.11.
United Technologies Corp. (NYSE:UTX) last issued its earnings results on Tuesday, July 26th. The company reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.14. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The company earned $14.90 billion during the quarter, compared to the consensus estimate of $14.67 billion. During the same period in the previous year, the company posted $1.81 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in United Technologies Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 51,710,590 shares of the company’s stock valued at $5,302,921,000 after buying an additional 2,049,777 shares in the last quarter. FMR LLC increased its stake in United Technologies Corp. by 2.6% in the second quarter. FMR LLC now owns 21,986,379 shares of the company’s stock worth $2,254,702,000 after buying an additional 549,366 shares during the last quarter. Franklin Resources Inc. increased its stake in United Technologies Corp. by 1.7% in the first quarter. Franklin Resources Inc. now owns 18,076,858 shares of the company’s stock worth $1,809,493,000 after buying an additional 293,635 shares during the last quarter. BlackRock Fund Advisors increased its stake in United Technologies Corp. by 1.3% in the second quarter. BlackRock Fund Advisors now owns 9,496,025 shares of the company’s stock worth $973,817,000 after buying an additional 120,134 shares during the last quarter. Finally, Davis Selected Advisers increased its stake in United Technologies Corp. by 4.8% in the second quarter. Davis Selected Advisers now owns 9,300,803 shares of the company’s stock worth $953,797,000 after buying an additional 421,896 shares during the last quarter. 80.20% of the stock is owned by institutional investors.
In related news, VP Charles D. Gill sold 7,144 shares of United Technologies Corp. stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $108.05, for a total transaction of $771,909.20. Following the completion of the sale, the vice president now owns 55,278 shares of the company’s stock, valued at $5,972,787.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert J. Mcdonough sold 3,100 shares of United Technologies Corp. stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $107.11, for a total value of $332,041.00. Following the sale, the insider now directly owns 11,349 shares of the company’s stock, valued at approximately $1,215,591.39. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Friday, November 18th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.64%. The ex-dividend date is Wednesday, November 16th. United Technologies Corp.’s dividend payout ratio is 31.13%.
About United Technologies Corp.
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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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