United Technologies (NYSE:UTX) Updates FY 2019 Earnings Guidance

United Technologies (NYSE:UTX) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $8.05-8.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.51. The company issued revenue guidance of $76-76.5 billion, compared to the consensus revenue estimate of $74.33 billion.

Several equities analysts have recently weighed in on the company. Wolfe Research set a $152.00 target price on United Technologies and gave the company a buy rating in a research report on Wednesday, September 18th. Credit Suisse Group began coverage on United Technologies in a research report on Thursday, October 3rd. They issued an outperform rating and a $164.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on United Technologies from $150.00 to $155.00 and gave the company an overweight rating in a research report on Thursday, October 10th. William Blair reaffirmed a hold rating on shares of United Technologies in a research report on Tuesday, September 3rd. Finally, Zacks Investment Research downgraded United Technologies from a strong-buy rating to a hold rating and set a $151.00 price objective on the stock. in a research report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. United Technologies currently has an average rating of Buy and a consensus target price of $154.81.

Shares of United Technologies stock opened at $138.35 on Tuesday. The stock’s fifty day moving average is $135.00 and its two-hundred day moving average is $132.70. The company has a market capitalization of $118.05 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. United Technologies has a 52 week low of $100.48 and a 52 week high of $144.40.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.18. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.31 billion. During the same period in the prior year, the business earned $1.93 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, research analysts anticipate that United Technologies will post 8.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, November 14th. United Technologies’s dividend payout ratio is 38.63%.

In related news, VP Robert J. Bailey sold 831 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.09, for a total transaction of $112,259.79. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $270,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth B. Amato sold 4,298 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $135.71, for a total value of $583,281.58. Following the sale, the executive vice president now owns 30,847 shares of the company’s stock, valued at $4,186,246.37. The disclosure for this sale can be found here. Insiders sold a total of 103,123 shares of company stock valued at $13,787,015 over the last quarter. Company insiders own 0.15% 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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