United Technologies Co. (NYSE:UTX) announced a quarterly dividend on Monday, April 30th, RTT News reports. Stockholders of record on Friday, May 18th will be paid a dividend of 0.70 per share by the conglomerate on Sunday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, May 17th.
United Technologies has increased its dividend by an average of 4.8% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. United Technologies has a dividend payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Technologies to earn $7.78 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 36.0%.
United Technologies stock opened at $124.55 on Wednesday. The firm has a market capitalization of $99.99 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. United Technologies has a 1-year low of $123.47 and a 1-year high of $124.97. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 0.77.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. The business had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $14.62 billion. United Technologies had a net margin of 7.28% and a return on equity of 17.67%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. research analysts anticipate that United Technologies will post 7.13 earnings per share for the current year.
In other United Technologies news, EVP Elizabeth B. Amato sold 6,557 shares of the stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $123.86, for a total value of $812,150.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the completion of the sale, the vice president now owns 4,900 shares of the company’s stock, valued at approximately $661,255. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,778 shares of company stock valued at $2,425,001. Corporate insiders own 0.17% of the company’s stock.
A number of research firms recently weighed in on UTX. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Cowen reaffirmed a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research report on Thursday, January 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $146.00 target price (up previously from $124.00) on shares of United Technologies in a research report on Thursday, January 25th. Sanford C. Bernstein reaffirmed a “positive” rating and issued a $153.00 target price (up previously from $135.00) on shares of United Technologies in a research report on Tuesday, January 30th. Finally, Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $138.21.
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.
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