United Technologies (NYSE:UTX) Upgraded by Goldman Sachs Group to Buy

United Technologies (NYSE:UTX) was upgraded by equities research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Monday, January 8th, MarketBeat reports.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Cowen restated a “hold” rating and set a $120.00 price target on shares of United Technologies in a research report on Tuesday, October 24th. Stifel Nicolaus increased their target price on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Finally, Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $136.15.

United Technologies (UTX) traded down $3.71 during midday trading on Monday, reaching $134.61. 4,627,081 shares of the company’s stock traded hands, compared to its average volume of 3,770,000. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80. United Technologies has a twelve month low of $107.05 and a twelve month high of $139.24. The stock has a market capitalization of $107,500.00, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 2.35 and a beta of 1.08.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The business had revenue of $15.68 billion during the quarter, compared to analyst estimates of $15.34 billion. During the same period in the prior year, the business posted $1.56 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. equities analysts expect that United Technologies will post 7.01 earnings per share for the current year.

In related news, VP Robert J. Bailey sold 864 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at $252,020. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth B. Amato sold 4,341 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $125.92, for a total transaction of $546,618.72. Following the completion of the transaction, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at $3,667,042.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,480 shares of company stock valued at $1,658,028. 0.16% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alexandria Capital LLC increased its position in shares of United Technologies by 0.3% during the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 3 shares in the last quarter. Rowland & Co. Investment Counsel ADV increased its position in shares of United Technologies by 0.3% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after acquiring an additional 3 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its position in shares of United Technologies by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock valued at $218,000 after acquiring an additional 8 shares in the last quarter. Kissinger Financial Services LLC increased its position in shares of United Technologies by 0.5% during the second quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock valued at $256,000 after acquiring an additional 11 shares in the last quarter. Finally, Vigilant Capital Management LLC increased its position in shares of United Technologies by 0.7% during the second quarter. Vigilant Capital Management LLC now owns 1,891 shares of the conglomerate’s stock valued at $231,000 after acquiring an additional 14 shares in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

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About United Technologies

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 (NYSE:UTX)

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