United Technologies Co. (NYSE:UTX) – Investment analysts at Jefferies Financial Group lowered their Q3 2020 earnings per share (EPS) estimates for United Technologies in a note issued to investors on Tuesday, March 17th. Jefferies Financial Group analyst S. Kahyaoglu now expects that the conglomerate will post earnings per share of $1.99 for the quarter, down from their prior estimate of $2.15.
A number of other research firms have also recently issued reports on UTX. Barclays reiterated a “buy” rating and issued a $150.00 target price on shares of United Technologies in a research note on Friday, March 13th. UBS Group lifted their target price on shares of United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Cowen reiterated an “outperform” rating and issued a $150.00 target price (down from $169.00) on shares of United Technologies in a research note on Thursday, March 5th. ValuEngine upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Benchmark assumed coverage on shares of United Technologies in a research note on Friday, January 31st. They issued a “buy” rating and a $186.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. United Technologies currently has a consensus rating of “Buy” and an average price target of $162.80.
NYSE UTX opened at $82.53 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $68.77 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.26. The company has a 50 day moving average price of $135.95 and a two-hundred day moving average price of $142.16. United Technologies has a 12-month low of $69.02 and a 12-month high of $158.44.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.10. The firm had revenue of $19.55 billion during the quarter, compared to analysts’ expectations of $19.34 billion. United Technologies had a net margin of 7.19% and a return on equity of 16.60%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.95 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 14th were paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Thursday, February 13th. United Technologies’s payout ratio is 35.59%.
Several institutional investors have recently modified their holdings of UTX. PSI Advisors LLC bought a new position in United Technologies during the fourth quarter worth $29,000. Accurate Investment Solutions Inc. bought a new position in United Technologies during the fourth quarter worth $30,000. Mizuho Securities Co. Ltd. bought a new position in United Technologies during the fourth quarter worth $30,000. Capital Wealth Alliance LLC bought a new position in United Technologies during the fourth quarter worth $30,000. Finally, Savior LLC bought a new position in United Technologies during the fourth quarter worth $32,000. Institutional investors and hedge funds own 82.01% of the company’s stock.
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.