Analysts Anticipate United Technologies Co. (UTX) Will Post Quarterly Sales of $15.39 Billion

Analysts predict that United Technologies Co. (NYSE:UTX) will post sales of $15.39 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for United Technologies’ earnings. The highest sales estimate is $15.48 billion and the lowest is $15.16 billion. United Technologies reported sales of $14.66 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5%. The firm is expected to issue its next earnings report before the market opens on Wednesday, January 24th.

On average, analysts expect that United Technologies will report full-year sales of $15.39 billion for the current financial year, with estimates ranging from $59.51 billion to $60.08 billion. For the next year, analysts expect that the firm will report sales of $62.88 billion per share, with estimates ranging from $62.03 billion to $63.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover United Technologies.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 earnings per share.

Several equities analysts have recently commented on UTX shares. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Royal Bank of Canada set a $126.00 price objective on shares of United Technologies and gave the company a “hold” rating in a research note on Sunday, November 12th. Cowen reaffirmed a “hold” rating and set a $120.00 price objective on shares of United Technologies in a research note on Tuesday, October 24th. Finally, Stifel Nicolaus upped their price objective on shares of United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $125.63.

In other United Technologies news, EVP Elizabeth B. Amato sold 4,341 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $125.92, for a total transaction of $546,618.72. Following the completion of the transaction, the executive vice president now owns 29,122 shares of the company’s stock, valued at $3,667,042.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Bailey sold 864 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $126.01, for a total transaction of $108,872.64. Following the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $252,020. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,466 shares of company stock valued at $2,019,274. 0.16% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Knowledge Leaders Capital LLC bought a new position in shares of United Technologies during the third quarter valued at approximately $105,000. Tortoise Investment Management LLC increased its stake in shares of United Technologies by 5.3% during the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after purchasing an additional 48 shares in the last quarter. Seven Bridges Advisors LLC purchased a new stake in shares of United Technologies during the second quarter valued at approximately $120,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of United Technologies during the third quarter valued at approximately $118,000. Finally, Winfield Associates Inc. grew its holdings in shares of United Technologies by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after buying an additional 29 shares during the last quarter. 80.07% of the stock is owned by institutional investors and hedge funds.

Shares of United Technologies (NYSE UTX) traded up $0.19 during trading hours on Friday, hitting $134.61. 3,208,500 shares of the stock traded hands, compared to its average volume of 4,327,958. The company has a market capitalization of $108,170.00, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.33 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies has a 52-week low of $106.85 and a 52-week high of $137.73.

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About United Technologies

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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