United Technologies Corporation (NYSE:UTX) Earns “Hold” Rating from Cowen and Company

United Technologies Corporation (NYSE:UTX)‘s stock had its “hold” rating restated by Cowen and Company in a research note issued to investors on Tuesday, October 24th. They currently have a $120.00 target price on the conglomerate’s stock. Cowen and Company’s price target would indicate a potential upside of 1.60% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC reiterated a “buy” rating on shares of United Technologies Corporation in a research report on Thursday, July 27th. Credit Suisse Group reiterated a “buy” rating and issued a $136.00 price objective on shares of United Technologies Corporation in a research report on Wednesday, July 26th. UBS AG lifted their price objective on shares of United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $140.00 price objective on shares of United Technologies Corporation in a research report on Wednesday, September 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $125.15.

United Technologies Corporation (UTX) traded down $0.26 during mid-day trading on Tuesday, reaching $118.11. 3,122,500 shares of the company’s stock were exchanged, compared to its average volume of 3,051,642. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 12 month low of $106.21 and a 12 month high of $124.79. The firm has a market capitalization of $94,526.73, a PE ratio of 17.88, a P/E/G ratio of 2.13 and a beta of 1.07.

United Technologies Corporation (NYSE:UTX) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The business had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies Corporation had a net margin of 8.79% and a return on equity of 17.66%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 EPS. equities analysts predict that United Technologies Corporation will post 6.61 EPS for the current year.

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In other United Technologies Corporation news, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the completion of the transaction, the executive vice president now owns 27,548 shares in the company, valued at approximately $3,332,757.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of United Technologies Corporation by 13.2% during the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after acquiring an additional 2,401,795 shares in the last quarter. Harbour Capital Advisors LLC raised its position in shares of United Technologies Corporation by 11,652.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock valued at $17,420,000 after acquiring an additional 2,109,056 shares in the last quarter. Vanguard Group Inc. raised its position in shares of United Technologies Corporation by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after acquiring an additional 848,623 shares in the last quarter. Flossbach Von Storch AG raised its position in shares of United Technologies Corporation by 95.6% during the 2nd quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock valued at $197,453,000 after acquiring an additional 790,496 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of United Technologies Corporation by 50.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock valued at $274,067,000 after acquiring an additional 756,600 shares in the last quarter. Hedge funds and other institutional investors own 78.81% 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.

Analyst Recommendations for United Technologies Corporation (NYSE:UTX)

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