United Technologies Co. (UTX) Expected to Post Quarterly Sales of $19.46 Billion
Equities research analysts predict that United Technologies Co. (NYSE:UTX) will announce $19.46 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for United Technologies’ earnings, with the highest sales estimate coming in at $19.89 billion and the lowest estimate coming in at $19.12 billion. United Technologies posted sales of $16.71 billion in the same quarter last year, which would indicate a positive year over year growth rate of 16.5%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 23rd.
On average, analysts expect that United Technologies will report full-year sales of $76.72 billion for the current financial year, with estimates ranging from $75.90 billion to $77.39 billion. For the next year, analysts forecast that the business will post sales of $80.36 billion, with estimates ranging from $79.40 billion to $81.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for United Technologies.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.20. The firm had revenue of $18.37 billion during the quarter, compared to analyst estimates of $18.01 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 EPS.
In other United Technologies news, CEO Robert Kelly Ortberg sold 16,587 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $126.59, for a total value of $2,099,748.33. Following the completion of the sale, the chief executive officer now directly owns 70,211 shares of the company’s stock, valued at $8,888,010.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 1,418 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $126.20, for a total transaction of $178,951.60. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. WESPAC Advisors SoCal LLC purchased a new position in shares of United Technologies in the fourth quarter valued at about $26,000. Strategy Asset Managers LLC purchased a new position in shares of United Technologies in the first quarter valued at about $26,000. Guidant Wealth Advisors increased its position in shares of United Technologies by 64.9% in the fourth quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Harvest Group Wealth Management LLC purchased a new position in shares of United Technologies in the first quarter valued at about $33,000. Finally, Advisory Alpha LLC purchased a new position in shares of United Technologies in the first quarter valued at about $36,000. 79.73% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE UTX traded up $0.95 during mid-day trading on Friday, reaching $131.40. 2,658,845 shares of the company were exchanged, compared to its average volume of 3,878,515. United Technologies has a 52 week low of $100.48 and a 52 week high of $144.40. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.79 and a current ratio of 1.13. The company has a market capitalization of $116.76 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.94 and a beta of 1.23.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, May 16th. United Technologies’s dividend payout ratio is presently 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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