United Technologies Co. (NYSE:UTX) announced a quarterly dividend on Wednesday, October 10th, RTT News reports. Stockholders of record on Friday, November 16th will be given a dividend of 0.735 per share by the conglomerate on Monday, December 10th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from United Technologies’s previous quarterly dividend of $0.70.

United Technologies has increased its dividend by an average of 4.8% annually over the last three years and has raised its dividend every year for the last 6 years. United Technologies has a dividend payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect United Technologies to earn $7.80 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 37.7%.

NYSE UTX opened at $130.71 on Friday. United Technologies has a 12 month low of $115.40 and a 12 month high of $144.15. The firm has a market capitalization of $104.57 billion, a PE ratio of 17.96, a P/E/G ratio of 1.98 and a beta of 1.09. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.17 and a current ratio of 1.52.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The firm had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $16.10 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts anticipate that United Technologies will post 7.27 earnings per share for the current year.

A number of equities research analysts have recently commented on the company. Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Royal Bank of Canada dropped their price objective on United Technologies to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. Robert W. Baird increased their price objective on United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, September 20th. Finally, UBS Group initiated coverage on United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. United Technologies currently has a consensus rating of “Buy” and a consensus target price of $151.90.

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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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Dividend History for United Technologies (NYSE:UTX)

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