United Technologies Co. (NYSE:UTX) – Investment analysts at William Blair lowered their Q3 2017 EPS estimates for United Technologies in a research note issued on Monday. William Blair analyst N. Heymann now forecasts that the conglomerate will earn $1.71 per share for the quarter, down from their previous forecast of $1.72. William Blair also issued estimates for United Technologies’ Q4 2017 earnings at $1.54 EPS, FY2017 earnings at $6.58 EPS and FY2018 earnings at $6.80 EPS.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. The firm had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. United Technologies had a return on equity of 20.60% and a net margin of 10.03%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share.
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UTX has been the topic of a number of other research reports. BidaskClub upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Royal Bank Of Canada reiterated a “hold” rating and set a $125.00 target price on shares of United Technologies in a report on Friday, June 2nd. Sanford C. Bernstein reiterated a “market perform” rating and set a $135.00 target price (up previously from $130.00) on shares of United Technologies in a report on Friday, July 21st. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Monday, June 5th. Finally, Vertical Research cut United Technologies from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, September 5th. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $124.48.
United Technologies (NYSE UTX) opened at 114.50 on Wednesday. The firm has a market cap of $91.46 billion, a price-to-earnings ratio of 17.44 and a beta of 1.05. The firm’s 50-day moving average price is $115.56 and its 200-day moving average price is $117.60. United Technologies has a 1-year low of $97.62 and a 1-year high of $124.79.
Institutional investors have recently modified their holdings of the stock. Tortoise Investment Management LLC boosted its holdings in United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 48 shares during the last quarter. Seven Bridges Advisors LLC acquired a new position in United Technologies in the second quarter valued at $120,000. Riggs Asset Managment Co. Inc. boosted its holdings in United Technologies by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after acquiring an additional 125 shares during the last quarter. Winfield Associates Inc. boosted its holdings in United Technologies by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after acquiring an additional 29 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in United Technologies in the second quarter valued at $131,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.
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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