December 15th, 2015

Stock Update (NYSE:UTX): United Technologies Breaks Ground on New UTC Center for Intelligent Buildings in Palm Beach Gardens

[PR Newswire] – PALM BEACH GARDENS, Fla., May 17, 2016 /PRNewswire/ — The world’s largest provider of building technologies today held a ceremonial groundbreaking for its state-of-the-art innovation and technology experience center and building showcase. Designed to provide visitors a new way to interact with current and emerging building technologies, the new UTC Center for Intelligent Buildings will also serve as the global corporate headquarters for UTC Climate, Controls & Security, a $17 billion business with approximately 55,000 employees worldwide. A leading provider of heating, ventilating, air conditioning and refrigeration systems, building controls and automation, and fire and security systems, UTC Climate, Controls & Security is a unit of United Technologies Corp. (UTX). Read more on this. United Technologies Corporation (UTX) , valued at $85.03B, started trading this morning at $101.66. Looking at the equity, the company’s one day range is $100.97 to $101.93 and has traded between $83.39 and $119.66 over the past 12 months. UTX shares are currently priced at 15.29x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 5.95x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.64 per share annually in dividends, yielding 2.63%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $1.68 per share, which would be $0.05 worse than the year-ago quarter and a $0.01 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $6.56 is a $0.27 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $14.66 Billion. If realized, that would be a 10.23% decrease over the year-ago quarter. Recently, RBC Capital Mkts downgraded UTX from Outperform to Sector Perform (May 3, 2016). Previously, Goldman downgraded UTX from Buy to Neutral. The average price target for UTX shares by the analysts covering it is $111.67, which is 9.85% above where the stock opened. See more in (NYSE:UTX) Similar Articles: Stock Update: United Technologies Corp (NYSE:UTX) – United Technologies to present at Electrical Products Group Conference Stock Update: United Technologies Corp (NYSE:UTX) – United Technologies Prices Offering of Euro-Denominated Senior Notes Market Update: United Technologies Corp (NYSE:UTX) – United Technologies, Otis Donate Elevators to New Exhibit at Space Center Houston
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