United Technologies Corporation (UTX) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $1.82 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $1.68. The company posted revenue of $14874.00 million in the period, compared to analysts expectations of $14692.67 million. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS.
Many Wall Street Analysts have commented on United Technologies Corporation. Shares were Downgraded by RBC Capital Mkts on May 3, 2016 to ” Sector Perform” and Lowered the Price Target to $ 108 from a previous price target of $109 .United Technologies Corporation was Downgraded by Goldman to ” Neutral” on May 2, 2016.
United Technologies Corporation opened for trading at $105.69 and hit $106.28 on the upside on Wednesday, eventually ending the session at $106.04, with a gain of 0.40% or 0.42 points. The heightened volatility saw the trading volume jump to 29,87,486 shares. Company has a market cap of $88,741 M.
Investors should note that on Jun 8, 2016, United Technologies Corporation announced a cash dividend of $0.6600. The company’s management has announced Aug 17, 2016 as the ex-dividend date and fixed the record date on Aug 19, 2016. The payable date has been fixed on Sep 10, 2016.
In a different news, on Jun 10, 2016, Charles D Gill (Executive VP & General Counsel) sold 8,958 shares at $102.04 per share price. According to the SEC, on May 13, 2016, Gregory Hayes (President and CEO) sold 980 shares at $102.15 per share price. On May 12, 2016, Elizabeth B Amato (EVP & Chief HR Officer) sold 3,696 shares at $102.12 per share price, according to the Form-4 filing with the securities and exchange commission.
United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries across the world. The Company operates through five segments: Otis; UTC Climate Controls & Security; Pratt & Whitney; UTC Aerospace Systems and Sikorsky. Otis designs manufactures sells and installs a range of passenger and freight elevators for low- medium- and high-speed applications as well as a line of escalators and moving walkways. UTC Climate Controls & Security is a provider of heating ventilating air conditioning (HVAC) and refrigeration solutions. Pratt & Whitney segment supplies aircraft engines for the commercial military business jet and general aviation markets. UTC Aerospace Systems is a global provider of technologically advanced aerospace products and aftermarket service solutions. Its Sikorsky segment manufactures military and commercial helicopters and also provides aftermarket helicopter and aircraft parts and services.