United Technologies (UTX) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of United Technologies (NYSE:UTX) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other analysts have also recently issued reports on UTX. Zacks Investment Research upgraded shares of United Technologies from a hold rating to a buy rating and set a $143.00 target price on the stock in a research note on Tuesday, May 22nd. Wolfe Research began coverage on shares of United Technologies in a research note on Wednesday, June 27th. They issued an outperform rating on the stock. Morgan Stanley began coverage on shares of United Technologies in a research note on Friday, June 15th. They issued an overweight rating and a $160.00 target price on the stock. Jefferies Financial Group set a $157.00 target price on shares of United Technologies and gave the stock a buy rating in a research note on Tuesday, July 10th. Finally, UBS Group began coverage on shares of United Technologies in a research note on Wednesday, August 15th. They issued a buy rating on the stock. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $146.78.

NYSE UTX opened at $137.76 on Friday. United Technologies has a 1 year low of $112.65 and a 1 year high of $139.24. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46. The company has a market capitalization of $107.12 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 2.03 and a beta of 1.01.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The business had revenue of $16.71 billion for the quarter, compared to analysts’ expectations of $16.26 billion. During the same period in the prior year, the company posted $1.85 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. research analysts forecast that United Technologies will post 7.23 EPS for the current fiscal year.

In other news, VP Robert J. Bailey sold 828 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total transaction of $111,573.00. Following the sale, the vice president now owns 2,000 shares in the company, valued at approximately $269,500. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Charles D. Gill sold 14,255 shares of the firm’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the sale, the vice president now owns 55,029 shares in the company, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,511 shares of company stock worth $2,521,974. Corporate insiders own 0.17% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Credit Agricole S A raised its position in United Technologies by 101.4% in the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after purchasing an additional 436 shares during the period. Silvant Capital Management LLC purchased a new position in United Technologies in the 1st quarter worth $113,000. Jolley Asset Management LLC purchased a new position in United Technologies in the 2nd quarter worth $114,000. Fort L.P. purchased a new position in United Technologies in the 2nd quarter worth $120,000. Finally, WP Advisors LLC purchased a new position in United Technologies in the 2nd quarter worth $126,000. Hedge funds and other institutional investors own 82.05% of the company’s stock.

United Technologies Company Profile

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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Analyst Recommendations for United Technologies (NYSE:UTX)

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