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.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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