United Technologies Co. (UTX) Expected to Post Quarterly Sales of $15.39 Billion
Equities analysts expect United Technologies Co. (NYSE:UTX) to post sales of $15.39 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for United Technologies’ earnings, with estimates ranging from $15.16 billion to $15.48 billion. United Technologies reported sales of $14.66 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5%. The company is scheduled to report its next earnings report on Wednesday, January 24th.
According to Zacks, analysts expect that United Technologies will report full year sales of $15.39 billion for the current year, with estimates ranging from $59.25 billion to $60.02 billion. For the next year, analysts expect that the business will post sales of $62.88 billion per share, with estimates ranging from $62.03 billion to $63.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for United Technologies.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter last year, the business earned $1.76 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year.
Shares of United Technologies (NYSE UTX) traded up $0.07 on Friday, reaching $126.78. The company’s stock had a trading volume of 3,630,380 shares, compared to its average volume of 3,069,934. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. United Technologies has a 12-month low of $106.85 and a 12-month high of $127.54. The company has a market capitalization of $100,755.57, a PE ratio of 19.06, a P/E/G ratio of 2.27 and a beta of 1.07.
The company also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Friday, November 17th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Thursday, November 16th. United Technologies’s dividend payout ratio is presently 43.41%.
In related news, EVP Michael R. Dumais sold 2,986 shares of United Technologies stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 864 shares of United Technologies stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $252,020. The disclosure for this sale can be found here. In the last three months, insiders sold 16,466 shares of company stock worth $2,019,274. 0.16% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Knowledge Leaders Capital LLC acquired a new position in shares of United Technologies during the 3rd quarter worth approximately $105,000. Tortoise Investment Management LLC increased its position in shares of United Technologies by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares during the last quarter. Seven Bridges Advisors LLC acquired a new position in shares of United Technologies during the 2nd quarter worth approximately $120,000. Wealthcare Advisory Partners LLC acquired a new position in shares of United Technologies during the 3rd quarter worth approximately $118,000. Finally, Winfield Associates Inc. increased its position in shares of United Technologies by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 29 shares during the last quarter. 80.07% of the stock is currently owned by institutional investors and hedge funds.
About United Technologies
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.
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