United Technologies Corporation (NYSE:UTX) issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07, Bloomberg Earnings reports. The company had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share. United Technologies Corporation updated its FY17 guidance to $6.45-6.60 EPS.

Shares of United Technologies Corporation (UTX) traded down 0.53% during mid-day trading on Friday, reaching $115.48. 2,760,448 shares of the company’s stock were exchanged. The firm has a market capitalization of $92.24 billion, a P/E ratio of 17.59 and a beta of 1.06. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79. The stock has a 50-day moving average of $120.41 and a 200 day moving average of $117.13.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Wednesday, August 16th. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s payout ratio is 42.68%.

A number of hedge funds and other institutional investors have recently made changes to their positions in UTX. FMR LLC raised its position in shares of United Technologies Corporation by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after buying an additional 2,401,795 shares in the last quarter. Vanguard Group Inc. raised its position in shares of United Technologies Corporation by 1.6% in the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after buying an additional 848,623 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of United Technologies Corporation by 50.9% in the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock worth $274,067,000 after buying an additional 756,600 shares in the last quarter. Capital Research Global Investors raised its position in shares of United Technologies Corporation by 3.6% in the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock worth $1,072,082,000 after buying an additional 304,989 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its position in shares of United Technologies Corporation by 799.8% in the second quarter. Thrivent Financial For Lutherans now owns 263,476 shares of the conglomerate’s stock worth $32,173,000 after buying an additional 234,194 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a report on Sunday, August 13th. BidaskClub downgraded shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Tuesday, May 16th. Stifel Nicolaus restated a “hold” rating and issued a $126.00 price target on shares of United Technologies Corporation in a research note on Friday, July 7th. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of United Technologies Corporation in a research report on Wednesday, May 31st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $123.54.

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About United Technologies Corporation

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.

Earnings History for United Technologies Corporation (NYSE:UTX)

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