$19.46 Billion in Sales Expected for United Technologies Co. (NYSE:UTX) This Quarter

Wall Street brokerages predict that United Technologies Co. (NYSE:UTX) will announce sales of $19.46 billion for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for United Technologies’ earnings, with estimates ranging from $19.12 billion to $19.89 billion. United Technologies reported sales of $16.71 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.5%. The business is expected to report its next quarterly earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that United Technologies will report full year sales of $76.72 billion for the current fiscal year, with estimates ranging from $75.90 billion to $77.39 billion. For the next fiscal year, analysts expect that the company will post sales of $80.36 billion, with estimates ranging from $79.40 billion to $81.38 billion. Zacks’ sales averages are an average based on a survey of research firms that cover United Technologies.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.20. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The business had revenue of $18.37 billion during the quarter, compared to analysts’ expectations of $18.01 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis.

Several research analysts recently commented on UTX shares. JPMorgan Chase & Co. started coverage on shares of United Technologies in a report on Friday, February 22nd. They set an “overweight” rating and a $132.00 target price for the company. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $159.00 price target on shares of United Technologies in a research note on Wednesday, April 24th. Barclays increased their price target on shares of United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Finally, Seaport Global Securities initiated coverage on shares of United Technologies in a research note on Friday, May 10th. They issued a “neutral” rating and a $136.86 price target for the company. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $149.86.

Hedge funds have recently made changes to their positions in the business. WESPAC Advisors SoCal LLC bought a new position in United Technologies during the fourth quarter worth about $26,000. Strategy Asset Managers LLC bought a new position in United Technologies during the first quarter worth about $26,000. Harvest Group Wealth Management LLC bought a new position in United Technologies during the first quarter worth about $33,000. Advisory Alpha LLC bought a new position in United Technologies during the first quarter worth about $36,000. Finally, Braun Bostich & Associates Inc. increased its position in United Technologies by 73.0% during the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock worth $39,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 80.67% of the company’s stock.

UTX traded up $0.49 during trading hours on Friday, hitting $125.30. 3,048,636 shares of the company’s stock were exchanged, compared to its average volume of 3,979,543. United Technologies has a 1-year low of $100.48 and a 1-year high of $144.40. The stock has a market capitalization of $106.98 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.77 and a beta of 1.26. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 0.98.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio is currently 38.63%.

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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Earnings History and Estimates for United Technologies (NYSE:UTX)

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