In the latest trading session, United Technologies (UTX) closed at $135.67, marking a +0.07% move from the previous day. This change outpaced the S&P 500's 0.01% loss on the day. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the maker of elevators, jet engines and other products had gained 5.95% over the past month, outpacing the Conglomerates sector's gain of 5.43% and the S&P 500's gain of 3.23% in that time.
Investors will be hoping for strength from UTX as it approaches its next earnings release. The company is expected to report EPS of $2.02, up 4.66% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $19.24 billion, up 16.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.03 per share and revenue of $77.13 billion, which would represent changes of +5.52% and +15.98%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for UTX. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% higher. UTX is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, UTX currently has a Forward P/E ratio of 16.88. This valuation marks a premium compared to its industry's average Forward P/E of 16.73.
Also, we should mention that UTX has a PEG ratio of 1.92. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Diversified Operations stocks are, on average, holding a PEG ratio of 1.88 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 28, which puts it in the top 11% of all 250+ industries.