United Technologies Co. (UTX) Expected to Post Quarterly Sales of $16.14 Billion
Wall Street analysts predict that United Technologies Co. (NYSE:UTX) will announce $16.14 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for United Technologies’ earnings, with the lowest sales estimate coming in at $15.77 billion and the highest estimate coming in at $16.33 billion. United Technologies posted sales of $15.06 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 7.2%. The company is expected to issue its next quarterly earnings results on Tuesday, October 23rd.
According to Zacks, analysts expect that United Technologies will report full-year sales of $65.22 billion for the current financial year, with estimates ranging from $63.79 billion to $69.33 billion. For the next financial year, analysts forecast that the company will post sales of $69.01 billion per share, with estimates ranging from $66.80 billion to $77.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover United Technologies.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The company had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. During the same quarter last year, the company earned $1.85 earnings per share. United Technologies’s quarterly revenue was up 9.3% compared to the same quarter last year.
United Technologies stock traded up $0.20 during midday trading on Thursday, reaching $131.90. The company’s stock had a trading volume of 2,925,883 shares, compared to its average volume of 4,274,546. United Technologies has a fifty-two week low of $109.10 and a fifty-two week high of $139.24. 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 company has a market cap of $105.37 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, August 16th. United Technologies’s dividend payout ratio (DPR) is presently 42.11%.
In related news, VP Robert J. Bailey sold 828 shares of United Technologies stock in a transaction dated 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 approximately $269,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akhil Johri sold 3,428 shares of United Technologies stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $135.82, for a total value of $465,590.96. Following the sale, the chief financial officer now owns 43,403 shares of the company’s stock, valued at approximately $5,894,995.46. The disclosure for this sale can be found here. Insiders have sold a total of 18,511 shares of company stock valued at $2,521,974 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. HC Financial Advisors Inc. purchased a new stake in United Technologies in the 4th quarter valued at about $1,559,000. Global X Management Co. LLC grew its holdings in United Technologies by 12.4% in the 1st quarter. Global X Management Co. LLC now owns 7,326 shares of the conglomerate’s stock valued at $922,000 after buying an additional 808 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in United Technologies by 0.4% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 878,619 shares of the conglomerate’s stock valued at $110,548,000 after buying an additional 3,657 shares during the period. FDx Advisors Inc. grew its holdings in United Technologies by 5.8% in the 1st quarter. FDx Advisors Inc. now owns 20,041 shares of the conglomerate’s stock valued at $2,522,000 after buying an additional 1,099 shares during the period. Finally, Lee Danner & Bass Inc. grew its holdings in United Technologies by 1.5% in the 1st quarter. Lee Danner & Bass Inc. now owns 97,475 shares of the conglomerate’s stock valued at $12,264,000 after buying an additional 1,415 shares during the period. Hedge funds and other institutional investors own 82.05% of the company’s stock.
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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