Goldman Sachs Group upgraded shares of United Technologies (NYSE:UTX) from a neutral rating to a buy rating in a report published on Monday, Marketbeat reports.
Several other equities analysts have also recently weighed in on UTX. Royal Bank of Canada raised shares of United Technologies from a sector perform rating to an outperform rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Robert W. Baird raised shares of United Technologies from a neutral rating to an outperform rating in a research report on Friday, January 5th. Cowen reaffirmed a hold rating and issued a $120.00 price target on shares of United Technologies in a research report on Friday, November 10th. Zacks Investment Research raised shares of United Technologies from a sell rating to a hold rating in a research report on Thursday, October 26th. Finally, Atlantic Securities upgraded shares of United Technologies from a neutral rating to an overweight rating in a research note on Tuesday, December 5th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $125.63.
United Technologies (NYSE:UTX) opened at $135.80 on Monday. United Technologies has a 1 year low of $106.85 and a 1 year high of $136.26. The firm has a market cap of $108,450.00, a PE ratio of 21.02, a P/E/G ratio of 2.29 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91.
United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The business had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter last year, the firm earned $1.76 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. equities analysts expect that United Technologies will post 6.61 earnings per share for the current year.
In other news, VP Robert J. Bailey sold 827 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Akhil Johri sold 5,979 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $121.03, for a total transaction of $723,638.37. Following the sale, the vice president now owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,466 shares of company stock valued at $2,019,274. Company insiders own 0.16% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Connecticut Wealth Management LLC increased its stake in shares of United Technologies by 10.1% during the 2nd quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock worth $1,473,000 after purchasing an additional 1,098 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of United Technologies by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock worth $2,281,000 after purchasing an additional 1,447 shares during the last quarter. Delaney Dennis R increased its stake in shares of United Technologies by 28.4% during the 2nd quarter. Delaney Dennis R now owns 4,855 shares of the conglomerate’s stock worth $593,000 after purchasing an additional 1,075 shares during the last quarter. Stoneridge Investment Partners LLC grew its stake in United Technologies by 755.1% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock valued at $4,051,000 after buying an additional 29,298 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in United Technologies by 22.2% in the 2nd quarter. Federated Investors Inc. PA now owns 65,214 shares of the conglomerate’s stock valued at $7,963,000 after buying an additional 11,851 shares in the last quarter. Institutional investors own 80.07% of the company’s stock.
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United Technologies 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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