United Technologies Co. (NYSE:UTX) has earned an average recommendation of “Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $144.00.
Several research analysts recently issued reports on UTX shares. Bank of America reissued a “buy” rating and set a $185.00 price target on shares of United Technologies in a report on Thursday, January 24th. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $141.00 target price for the company in a report on Wednesday, March 27th. Goldman Sachs Group raised shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 target price for the company in a report on Friday, February 1st. Royal Bank of Canada cut shares of United Technologies from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $139.00 to $119.00 in a report on Thursday, January 3rd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $120.00 target price (down from $125.00) on shares of United Technologies in a report on Thursday, January 3rd.
In other news, VP Robert J. Bailey sold 1,418 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $126.20, for a total value of $178,951.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael R. Dumais sold 9,620 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total transaction of $1,145,934.40. Following the completion of the sale, the executive vice president now owns 35,627 shares in the company, valued at $4,243,888.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,770 shares of company stock valued at $12,153,044. 0.15% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in United Technologies by 1.9% during the third quarter. Vanguard Group Inc. now owns 59,240,301 shares of the conglomerate’s stock worth $8,282,386,000 after acquiring an additional 1,094,947 shares during the last quarter. Vanguard Group Inc boosted its position in United Technologies by 1.9% during the third quarter. Vanguard Group Inc now owns 59,240,301 shares of the conglomerate’s stock worth $8,282,386,000 after acquiring an additional 1,094,947 shares during the last quarter. BlackRock Inc. boosted its position in United Technologies by 13.3% during the fourth quarter. BlackRock Inc. now owns 54,035,145 shares of the conglomerate’s stock worth $5,753,662,000 after acquiring an additional 6,347,718 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in United Technologies by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,219,419 shares of the conglomerate’s stock worth $1,620,563,000 after acquiring an additional 61,785 shares during the last quarter. Finally, Morgan Stanley boosted its position in United Technologies by 5.5% during the third quarter. Morgan Stanley now owns 12,431,324 shares of the conglomerate’s stock worth $1,738,025,000 after acquiring an additional 649,983 shares during the last quarter. Institutional investors and hedge funds own 80.83% of the company’s stock.
Shares of NYSE:UTX traded down $0.66 on Wednesday, reaching $131.59. The company’s stock had a trading volume of 18,937 shares, compared to its average volume of 4,368,296. United Technologies has a 52-week low of $100.48 and a 52-week high of $144.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.81 and a current ratio of 1.13. The stock has a market capitalization of $114.04 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.92 and a beta of 1.20.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.42. The firm had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $16.87 billion. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 earnings per share. As a group, research analysts forecast that United Technologies will post 7.93 EPS for the current fiscal year.
United Technologies Company Profile
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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