United Technologies Co. (NYSE:UTX) Announces Quarterly Dividend of $0.74

United Technologies Co. (NYSE:UTX) announced a quarterly dividend on Thursday, October 10th, RTT News reports. Investors of record on Friday, November 15th will be paid a dividend of 0.735 per share by the conglomerate on Tuesday, December 10th. This represents a $2.94 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, November 14th.

Shares of United Technologies stock opened at $148.22 on Tuesday. The company has a fifty day moving average price of $139.19 and a 200 day moving average price of $133.75. The company has a current ratio of 1.06, a quick ratio of 0.75 and a debt-to-equity ratio of 0.93. United Technologies has a twelve month low of $100.48 and a twelve month high of $149.35. The stock has a market cap of $127.63 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 2.07 and a beta of 1.22.

United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. The company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.31 billion. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 EPS. Analysts forecast that United Technologies will post 8.13 earnings per share for the current year.

In other news, VP Charles D. Gill sold 26,542 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $131.42, for a total transaction of $3,488,149.64. Following the transaction, the vice president now owns 103,458 shares of the company’s stock, valued at $13,596,450.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 19,542 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $133.35, for a total transaction of $2,605,925.70. Following the transaction, the chief executive officer now directly owns 246,111 shares in the company, valued at approximately $32,818,901.85. The disclosure for this sale can be found here. Insiders have sold 185,306 shares of company stock worth $25,914,056 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein upped their price objective on shares of United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research report on Tuesday, September 17th. Cowen reissued a “buy” rating and issued a $150.00 price objective on shares of United Technologies in a research report on Wednesday, September 4th. William Blair reissued a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Finally, Bank of America reaffirmed a “buy” rating and set a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Six 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 has a consensus rating of “Buy” and a consensus target price of $154.69.

About United Technologies

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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Dividend History for United Technologies (NYSE:UTX)

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