United Technologies Co. (NYSE:UTX) announced a quarterly dividend on Monday, February 4th, RTT News reports. Shareholders of record on Friday, February 15th will be given a dividend of 0.735 per share by the conglomerate on Sunday, March 10th. This represents a $2.94 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, February 14th.
United Technologies has increased its dividend by an average of 3.5% per year over the last three years and has increased its dividend every year for the last 7 years. United Technologies has a payout ratio of 40.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Technologies to earn $8.66 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 33.9%.
UTX opened at $122.49 on Friday. The company has a market capitalization of $96.69 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.74 and a beta of 1.17. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.13 and a quick ratio of 0.81. United Technologies has a 1-year low of $100.48 and a 1-year high of $144.15.
United Technologies (NYSE:UTX) last released its earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.42. The firm had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $16.87 billion. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 earnings per share. On average, analysts predict that United Technologies will post 7.89 EPS for the current fiscal year.
In other United Technologies news, VP Robert J. Bailey sold 862 shares of the business’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $121.71, for a total transaction of $104,914.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael R. Dumais sold 9,620 shares of the business’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total transaction of $1,145,934.40. Following the sale, the executive vice president now directly owns 35,627 shares in the company, valued at $4,243,888.24. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.
UTX has been the subject of a number of recent research reports. ValuEngine downgraded United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Cowen reiterated a “hold” rating and set a $141.00 price objective on shares of United Technologies in a research report on Thursday, December 6th. Royal Bank of Canada cut their price objective on United Technologies to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. Bank of America reiterated a “buy” rating and set a $185.00 price objective on shares of United Technologies in a research report on Thursday, January 24th. Finally, Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Friday, October 12th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. United Technologies has a consensus rating of “Buy” and an average target price of $144.85.
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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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