United Technologies Co. (NYSE:UTX) – Stock analysts at Jefferies Financial Group lifted their Q2 2019 earnings estimates for shares of United Technologies in a research report issued to clients and investors on Sunday, April 28th, Zacks Investment Research reports. Jefferies Financial Group analyst S. Kahyaoglu now expects that the conglomerate will post earnings per share of $2.06 for the quarter, up from their prior estimate of $2.00. Jefferies Financial Group also issued estimates for United Technologies’ Q3 2019 earnings at $2.01 EPS, Q4 2019 earnings at $1.95 EPS, FY2020 earnings at $8.40 EPS and FY2021 earnings at $9.25 EPS.
Other equities research analysts have also recently issued reports about the stock. Barclays boosted their price target on shares of United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. initiated coverage on shares of United Technologies in a research report on Friday, February 22nd. They set an “overweight” rating and a $132.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $159.00 target price on shares of United Technologies in a research report on Wednesday, April 24th. Finally, Goldman Sachs Group restated a “buy” rating and set a $149.00 target price on shares of United Technologies in a research report on Wednesday, January 23rd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $148.67.
Shares of UTX opened at $137.07 on Tuesday. United Technologies has a 1-year low of $100.48 and a 1-year high of $144.40. The firm has a market capitalization of $120.89 billion, a P/E ratio of 18.01, a P/E/G ratio of 2.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.13 and a quick ratio of 0.79.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.20. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The firm had revenue of $18.37 billion during the quarter, compared to the consensus estimate of $18.01 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The company’s revenue was up 20.5% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. raised its position in shares of United Technologies by 4.2% during the first quarter. MV Capital Management Inc. now owns 1,846 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 75 shares during the period. Riggs Asset Managment Co. Inc. grew its stake in shares of United Technologies by 7.5% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,074 shares of the conglomerate’s stock worth $138,000 after acquiring an additional 75 shares during the period. Ashfield Capital Partners LLC grew its stake in shares of United Technologies by 0.5% during the 1st quarter. Ashfield Capital Partners LLC now owns 16,594 shares of the conglomerate’s stock worth $2,139,000 after acquiring an additional 77 shares during the period. Smith Moore & CO. grew its stake in shares of United Technologies by 1.2% during the 1st quarter. Smith Moore & CO. now owns 6,454 shares of the conglomerate’s stock worth $832,000 after acquiring an additional 78 shares during the period. Finally, Point View Wealth Management Inc. grew its stake in shares of United Technologies by 2.4% during the 4th quarter. Point View Wealth Management Inc. now owns 3,600 shares of the conglomerate’s stock worth $383,000 after acquiring an additional 85 shares during the period. 80.63% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Gregory Hayes sold 35,942 shares of United Technologies stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $123.81, for a total value of $4,449,979.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Kelly Ortberg sold 16,587 shares of United Technologies stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $126.59, for a total transaction of $2,099,748.33. Following the completion of the transaction, the chief executive officer now directly owns 70,211 shares of the company’s stock, valued at $8,888,010.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,288 shares of company stock valued at $10,902,196. 0.15% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, May 16th. United Technologies’s dividend payout ratio is currently 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.