United Technologies (NYSE:UTX)‘s stock had its “neutral” rating restated by analysts at Citigroup in a report released on Thursday, January 3rd, Marketbeat Ratings reports. They currently have a $120.00 target price on the conglomerate’s stock, down from their prior target price of $125.00. Citigroup‘s price target indicates a potential upside of 9.14% from the stock’s previous close.
Several other analysts also recently weighed in on the company. Barclays lowered their price objective on United Technologies from $153.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, December 17th. Cowen reaffirmed a “hold” rating and issued a $141.00 price target on shares of United Technologies in a report on Thursday, December 6th. Robert W. Baird cut their target price on United Technologies from $167.00 to $149.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 28th. Bank of America set a $180.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research report on Tuesday, November 27th. Finally, UBS Group upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $145.46.
Shares of UTX opened at $109.95 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $87.56 billion, a PE ratio of 16.53, a P/E/G ratio of 1.55 and a beta of 1.11. United Technologies has a 52 week low of $100.48 and a 52 week high of $144.15.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The firm had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same period last year, the firm posted $1.73 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts predict that United Technologies will post 7.17 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of UTX. Meristem Family Wealth LLC grew its position in United Technologies by 5.6% in the third quarter. Meristem Family Wealth LLC now owns 2,666 shares of the conglomerate’s stock worth $373,000 after acquiring an additional 141 shares during the period. Lynch & Associates IN raised its position in shares of United Technologies by 0.8% during the 4th quarter. Lynch & Associates IN now owns 26,509 shares of the conglomerate’s stock worth $2,823,000 after purchasing an additional 220 shares during the last quarter. Norman Fields Gottscho Capital Management LLC raised its holdings in United Technologies by 5.0% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 4,803 shares of the conglomerate’s stock valued at $511,000 after acquiring an additional 230 shares during the last quarter. United Capital Management of KS Inc. raised its holdings in United Technologies by 4.9% in the 4th quarter. United Capital Management of KS Inc. now owns 5,822 shares of the conglomerate’s stock valued at $620,000 after acquiring an additional 271 shares during the last quarter. Finally, Marshwinds Advisory Co. raised its holdings in United Technologies by 7.4% in the 4th quarter. Marshwinds Advisory Co. now owns 4,752 shares of the conglomerate’s stock valued at $506,000 after acquiring an additional 327 shares during the last quarter. Institutional investors own 82.01% of the company’s stock.
About United Technologies
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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