Zacks: Analysts Expect United Technologies Co. (UTX) Will Post Earnings of $1.83 Per Share
Wall Street analysts expect United Technologies Co. (NYSE:UTX) to report earnings of $1.83 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for United Technologies’ earnings, with the lowest EPS estimate coming in at $1.79 and the highest estimate coming in at $1.92. United Technologies posted earnings per share of $1.73 in the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The company is expected to announce its next quarterly earnings report on Tuesday, October 23rd.
On average, analysts expect that United Technologies will report full year earnings of $7.22 per share for the current fiscal year, with EPS estimates ranging from $7.15 to $7.25. For the next financial year, analysts expect that the company will post earnings of $7.85 per share, with EPS estimates ranging from $7.60 to $8.50. Zacks’ EPS calculations are an average based on a survey of research firms that follow United Technologies.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.12. The firm had revenue of $16.71 billion for the quarter, compared to the consensus estimate of $16.26 billion. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. United Technologies’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $1.85 EPS.
In related news, CFO Akhil Johri sold 3,428 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total value of $465,590.96. Following the sale, the chief financial officer now directly owns 43,403 shares in the company, valued at approximately $5,894,995.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 828 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total transaction of $111,573.00. Following the completion of the sale, the vice president now owns 2,000 shares in the company, valued at $269,500. The disclosure for this sale can be found here. Insiders have sold a total of 18,511 shares of company stock worth $2,521,974 over the last 90 days. 0.17% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Credit Agricole S A raised its holdings in shares of United Technologies by 101.4% in the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after purchasing an additional 436 shares in the last quarter. Silvant Capital Management LLC bought a new stake in shares of United Technologies in the 1st quarter worth approximately $113,000. Jolley Asset Management LLC bought a new stake in shares of United Technologies in the 2nd quarter worth approximately $114,000. Fort L.P. bought a new stake in shares of United Technologies in the 2nd quarter worth approximately $120,000. Finally, WP Advisors LLC bought a new stake in shares of United Technologies in the 2nd quarter worth approximately $126,000. Institutional investors and hedge funds own 82.06% of the company’s stock.
Shares of NYSE:UTX opened at $132.59 on Tuesday. United Technologies has a fifty-two week low of $109.10 and a fifty-two week high of $139.24. The stock has a market capitalization of $108.30 billion, a P/E ratio of 19.94, a PEG ratio of 2.06 and a beta of 1.05. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.11%. United Technologies’s dividend payout ratio (DPR) is 42.11%.
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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