Zacks: Brokerages Anticipate United Technologies Co. (NYSE:UTX) Will Announce Quarterly Sales of $19.24 Billion
Equities analysts predict that United Technologies Co. (NYSE:UTX) will announce sales of $19.24 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for United Technologies’ earnings, with estimates ranging from $18.89 billion to $19.44 billion. United Technologies posted sales of $16.51 billion in the same quarter last year, which would indicate a positive year over year growth rate of 16.5%. The company is expected to issue its next earnings report on Tuesday, October 22nd.
On average, analysts expect that United Technologies will report full-year sales of $77.13 billion for the current financial year, with estimates ranging from $76.66 billion to $77.59 billion. For the next financial year, analysts expect that the business will report sales of $80.23 billion, with estimates ranging from $79.32 billion to $81.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for United Technologies.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.16. The company had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. United Technologies’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.97 EPS.
In other news, EVP Elizabeth B. Amato sold 4,298 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $135.71, for a total transaction of $583,281.58. Following the completion of the sale, the executive vice president now owns 30,847 shares of the company’s stock, valued at approximately $4,186,246.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael R. Dumais sold 4,329 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $130.98, for a total transaction of $567,012.42. Following the sale, the executive vice president now directly owns 39,265 shares of the company’s stock, valued at approximately $5,142,929.70. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
A number of large investors have recently modified their holdings of UTX. Phocas Financial Corp. acquired a new stake in shares of United Technologies during the second quarter worth $25,000. Krane Funds Advisors LLC bought a new position in shares of United Technologies during the second quarter valued at about $26,000. Transamerica Financial Advisors Inc. bought a new position in shares of United Technologies during the second quarter valued at about $30,000. Quad Cities Investment Group LLC lifted its position in shares of United Technologies by 62.1% during the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. Finally, Manchester Financial Inc. bought a new position in shares of United Technologies during the second quarter valued at about $35,000. 80.13% of the stock is owned by institutional investors and hedge funds.
Shares of United Technologies stock traded up $0.65 during trading on Friday, hitting $127.33. 1,560,115 shares of the stock were exchanged, compared to its average volume of 3,756,703. The stock has a market capitalization of $107.90 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20. The company has a fifty day moving average price of $131.20 and a 200-day moving average price of $130.32. United Technologies has a 1-year low of $100.48 and a 1-year high of $144.40. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.31%. United Technologies’s 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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