$2.02 Earnings Per Share Expected for United Technologies Co. (NYSE:UTX) This Quarter

Wall Street brokerages forecast that United Technologies Co. (NYSE:UTX) will post earnings per share (EPS) of $2.02 for the current quarter, according to Zacks. Five analysts have provided estimates for United Technologies’ earnings. The lowest EPS estimate is $1.94 and the highest is $2.07. United Technologies posted earnings of $1.93 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 22nd.

On average, analysts expect that United Technologies will report full-year earnings of $8.03 per share for the current year, with EPS estimates ranging from $7.90 to $8.19. For the next financial year, analysts expect that the business will post earnings of $8.81 per share, with EPS estimates ranging from $8.68 to $9.05. Zacks’ EPS 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 earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business had revenue of $19.63 billion for the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the previous year, the company posted $1.97 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year.



Several equities research analysts have commented on the company. Barclays boosted their target price on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. William Blair reissued a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Cowen reissued a “buy” rating and issued a $150.00 target price on shares of United Technologies in a report on Wednesday, September 4th. Vertical Research raised United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Friday, June 14th. Finally, Morgan Stanley boosted their target price on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $152.21.

United Technologies stock traded up $0.60 during mid-day trading on Friday, hitting $138.06. The company had a trading volume of 3,004,653 shares, compared to its average volume of 3,654,504. 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 stock’s 50 day moving average price is $130.12 and its two-hundred day moving average price is $130.96. United Technologies has a 12 month low of $100.48 and a 12 month high of $144.40. The company has a market capitalization of $115.55 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.89 and a beta of 1.21.

In other news, VP Robert J. Bailey sold 831 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.09, for a total value of $112,259.79. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at $270,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth B. Amato sold 4,113 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $137.18, for a total value of $564,221.34. Following the completion of the transaction, the executive vice president now owns 31,501 shares of the company’s stock, valued at approximately $4,321,307.18. The disclosure for this sale can be found here. Insiders sold 103,123 shares of company stock valued at $13,787,015 in the last 90 days. Company insiders own 0.15% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Princeton Global Asset Management LLC increased its position in United Technologies by 4.2% during the second quarter. Princeton Global Asset Management LLC now owns 16,792 shares of the conglomerate’s stock valued at $2,186,000 after acquiring an additional 679 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in United Technologies by 0.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 182,670 shares of the conglomerate’s stock valued at $23,784,000 after acquiring an additional 1,291 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in United Technologies during the second quarter valued at $807,000. Rehmann Capital Advisory Group increased its position in United Technologies by 28.2% during the second quarter. Rehmann Capital Advisory Group now owns 3,337 shares of the conglomerate’s stock valued at $435,000 after acquiring an additional 735 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its position in United Technologies by 29.9% during the second quarter. EP Wealth Advisors LLC now owns 149,948 shares of the conglomerate’s stock valued at $19,523,000 after acquiring an additional 34,477 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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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