Wall Street analysts forecast that United Technologies Co. (NYSE:UTX) will announce $14.54 billion in sales for the current quarter, Zacks reports. Six analysts have provided estimates for United Technologies’ earnings, with the lowest sales estimate coming in at $14.06 billion and the highest estimate coming in at $14.76 billion. United Technologies posted sales of $13.82 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.2%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, April 24th.
On average, analysts expect that United Technologies will report full-year sales of $63.57 billion for the current financial year, with estimates ranging from $63.04 billion to $64.04 billion. For the next fiscal year, analysts forecast that the firm will post sales of $66.55 billion per share, with estimates ranging from $65.77 billion to $67.79 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow United Technologies.
United Technologies (NYSE:UTX) last released its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.04. The company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 EPS.
Several brokerages recently commented on UTX. Zacks Investment Research cut United Technologies from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $146.00 price target (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Cowen reissued a “hold” rating and issued a $141.00 price target on shares of United Technologies in a research note on Thursday, January 25th. Finally, UBS began coverage on United Technologies in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $139.07.
Shares of NYSE UTX traded up $1.29 during trading hours on Friday, hitting $125.10. The stock had a trading volume of 2,542,084 shares, compared to its average volume of 4,986,591. The stock has a market cap of $98,140.80, a price-to-earnings ratio of 18.73, a PEG ratio of 1.86 and a beta of 1.08. United Technologies has a 52 week low of $109.10 and a 52 week high of $139.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35.
In related news, VP Robert J. Bailey sold 419 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $133.73, for a total value of $56,032.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert J. Bailey sold 2,032 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.95, for a total value of $274,218.40. Following the completion of the transaction, the vice president now owns 4,900 shares of the company’s stock, valued at $661,255. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Almanack Investment Partners LLC. bought a new stake in shares of United Technologies during the fourth quarter worth $103,000. Knowledge Leaders Capital LLC bought a new stake in shares of United Technologies during the third quarter worth $105,000. Wealthcare Advisory Partners LLC bought a new stake in shares of United Technologies during the third quarter worth $118,000. Thompson Davis & CO. Inc. grew its holdings in shares of United Technologies by 750.4% during the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after purchasing an additional 953 shares during the last quarter. Finally, Taylor Hoffman Wealth Management bought a new stake in shares of United Technologies during the fourth quarter worth $140,000. Institutional investors and hedge funds own 81.89% of the company’s stock.
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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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