United Technologies Co. (UTX) Expected to Post Quarterly Sales of $14.54 Billion

Equities research analysts expect United Technologies Co. (NYSE:UTX) to report $14.54 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for United Technologies’ earnings. The lowest sales estimate is $14.06 billion and the highest is $14.76 billion. United Technologies posted sales of $13.82 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.2%. The business is expected to announce its next earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that United Technologies will report full year sales of $14.54 billion for the current year, with estimates ranging from $63.04 billion to $64.04 billion. For the next fiscal year, analysts expect that the firm will post sales of $66.55 billion per share, with estimates ranging from $65.77 billion to $67.79 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for United Technologies.

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United Technologies (NYSE:UTX) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.04. The company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $1.56 EPS.

A number of research firms have weighed in on UTX. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Goldman Sachs upgraded United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Stifel Nicolaus reiterated a “hold” rating and set a $146.00 price objective (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Cowen reiterated a “hold” rating and set a $141.00 price objective on shares of United Technologies in a research note on Thursday, January 25th. Finally, Barclays began coverage on United Technologies in a research note on Thursday, February 15th. They set an “overweight” rating and a $157.00 price objective for the company. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $139.07.

In related news, VP Robert J. Bailey sold 2,032 shares of United Technologies stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $134.95, for a total value of $274,218.40. Following the completion of the transaction, the vice president now owns 4,900 shares in the company, valued at approximately $661,255. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert J. Bailey sold 419 shares of United Technologies stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total value of $56,032.87. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Almanack Investment Partners LLC. acquired a new stake in United Technologies in the 4th quarter worth about $103,000. Knowledge Leaders Capital LLC acquired a new stake in United Technologies in the 3rd quarter worth about $105,000. Wealthcare Advisory Partners LLC acquired a new stake in United Technologies in the 3rd quarter worth about $118,000. Thompson Davis & CO. Inc. boosted its holdings in United Technologies by 750.4% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after buying an additional 953 shares during the last quarter. Finally, Taylor Hoffman Wealth Management acquired a new stake in United Technologies in the 4th quarter worth about $140,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.

UTX stock traded up $1.37 during midday trading on Wednesday, reaching $125.82. The stock had a trading volume of 2,837,872 shares, compared to its average volume of 4,559,379. The firm has a market capitalization of $100,628.11, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05. United Technologies has a 52-week low of $109.10 and a 52-week high of $139.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94.

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 16th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.23%. United Technologies’s dividend payout ratio is presently 42.11%.

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United Technologies Company Profile

United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.

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