UBS Reiterates “$155.00” Price Target for United Technologies (UTX)

UBS set a $155.00 price target on United Technologies (NYSE:UTX) in a research note published on Thursday, March 15th, www.tipranks.com reports. The brokerage currently has a buy rating on the conglomerate’s stock.

A number of other research firms also recently issued reports on UTX. ValuEngine upgraded shares of United Technologies from a hold rating to a buy rating in a research report on Friday, February 2nd. Cowen reaffirmed a hold rating and issued a $141.00 price objective on shares of United Technologies in a report on Thursday, January 25th. Stifel Nicolaus reaffirmed a hold rating and issued a $146.00 price objective (up previously from $124.00) on shares of United Technologies in a report on Thursday, January 25th. Sanford C. Bernstein reaffirmed a positive rating and issued a $153.00 price objective (up previously from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Finally, Zacks Investment Research cut shares of United Technologies from a buy rating to a hold rating in a research note on Monday, January 22nd. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $139.07.

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Shares of UTX opened at $122.76 on Thursday. The company has a market capitalization of $100,580.13, a price-to-earnings ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.08. United Technologies has a twelve month low of $109.10 and a twelve month high of $139.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94.

United Technologies (NYSE:UTX) last posted its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $15.34 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities analysts predict that United Technologies will post 7.04 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Thursday, February 15th. United Technologies’s dividend payout ratio is presently 42.11%.

In other United Technologies news, VP Robert J. Bailey sold 419 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total value of $56,032.87. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the completion of the sale, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of UTX. Almanack Investment Partners LLC. acquired a new stake in United Technologies during the 4th quarter worth $103,000. Knowledge Leaders Capital LLC acquired a new stake in United Technologies during the 3rd quarter worth $105,000. Wealthcare Advisory Partners LLC acquired a new stake in United Technologies during the 3rd quarter worth $118,000. Thompson Davis & CO. Inc. boosted its stake in United Technologies by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after purchasing an additional 953 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its stake in United Technologies by 3.8% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock worth $133,000 after purchasing an additional 40 shares during the period. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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