United Technologies Corporation (NYSE:UTX) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of United Technologies Corporation (NYSE:UTX) from a hold rating to a sell rating in a research report sent to investors on Monday, October 16th.

According to Zacks, “United Technologies is exposed to market price volatility and availability risks related to raw materials, which hamper its ability to meet delivery schedules and increase operating costs. Fluctuations in foreign currency exchange rates affect its net investment in foreign subsidiaries and cause instability in cash flows. The company is also susceptible to high operating risks following the Brexit referendum. Earnings estimate of the company for the current quarter has significantly reduced over the past three months, signifying negative investor perception. At present, United Technologies seems to be facing challenges on most fronts, and it would be prudent for investors to remain on the sidelines for some time. However, the acquisition of Rockwell Collins is expected to offer a bigger clout in the industry and increase its bargaining power as it would emerge as one of the largest global aircraft equipment manufacturers.”

Several other equities analysts have also recently commented on the company. Royal Bank Of Canada restated a hold rating and set a $126.00 target price on shares of United Technologies Corporation in a research report on Tuesday, October 10th. Deutsche Bank AG reduced their target price on United Technologies Corporation from $125.00 to $120.00 and set a hold rating for the company in a research report on Wednesday, September 6th. Bank of America Corporation reiterated a buy rating and issued a $140.00 price objective on shares of United Technologies Corporation in a report on Wednesday, September 6th. Cowen and Company cut United Technologies Corporation from an outperform rating to a market perform rating and cut their price objective for the stock from $127.00 to $120.00 in a report on Wednesday, September 6th. Finally, Vertical Research cut United Technologies Corporation from a buy rating to a hold rating and set a $125.00 price objective for the company. in a report on Tuesday, September 5th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $125.15.

United Technologies Corporation (UTX) opened at 119.56 on Monday. The firm’s 50 day moving average price is $115.89 and its 200-day moving average price is $118.57. The company has a market capitalization of $95.50 billion, a PE ratio of 18.21 and a beta of 1.05. United Technologies Corporation has a one year low of $99.99 and a one year high of $124.79.

United Technologies Corporation (NYSE:UTX) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the previous year, the business earned $1.76 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.33%. United Technologies Corporation’s dividend payout ratio (DPR) is 43.41%.

Institutional investors have recently bought and sold shares of the stock. Knowledge Leaders Capital LLC purchased a new stake in shares of United Technologies Corporation in the 3rd quarter worth approximately $105,000. Riggs Asset Managment Co. Inc. grew its stake in shares of United Technologies Corporation by 14.3% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after buying an additional 125 shares during the last quarter. Tortoise Investment Management LLC grew its stake in shares of United Technologies Corporation by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after buying an additional 48 shares during the last quarter. Seven Bridges Advisors LLC purchased a new stake in shares of United Technologies Corporation in the 2nd quarter worth approximately $120,000. Finally, Winfield Associates Inc. grew its stake in shares of United Technologies Corporation by 2.9% in the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after buying an additional 29 shares during the last quarter. Institutional investors own 78.82% of the company’s stock.

United Technologies Corporation Company Profile

United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.

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