United Technologies (NYSE:UTX) had its price objective upped by Cowen from $150.00 to $169.00 in a research report released on Wednesday morning, The Fly reports. Cowen currently has an outperform rating on the conglomerate’s stock.
Several other equities research analysts also recently weighed in on UTX. Wolfe Research set a $152.00 target price on shares of United Technologies and gave the company a buy rating in a research note on Wednesday, September 18th. Zacks Investment Research upgraded shares of United Technologies from a hold rating to a buy rating and set a $155.00 target price for the company in a report on Thursday, November 28th. Sanford C. Bernstein lifted their price target on shares of United Technologies from $143.00 to $154.00 and gave the stock a market perform rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their price target on shares of United Technologies from $150.00 to $155.00 and gave the company an overweight rating in a report on Thursday, October 10th. Finally, Credit Suisse Group set a $162.00 price objective on shares of United Technologies and gave the stock a buy rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $157.21.
Shares of United Technologies stock opened at $146.99 on Wednesday. The stock has a market cap of $126.89 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 2.07 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 1.06. The stock has a 50 day moving average price of $145.62 and a 200-day moving average price of $134.94. United Technologies has a one year low of $100.48 and a one year high of $149.81.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. United Technologies’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 EPS. Sell-side analysts predict that United Technologies will post 8.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, November 14th. This represents a $2.94 annualized dividend and a dividend yield of 2.00%. United Technologies’s dividend payout ratio (DPR) is 38.63%.
In related news, VP Robert J. Bailey sold 1,299 shares of United Technologies stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $149.17, for a total transaction of $193,771.83. Following the completion of the sale, the vice president now owns 2,600 shares in the company, valued at approximately $387,842. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Bailey sold 831 shares of United Technologies stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $135.09, for a total transaction of $112,259.79. Following the sale, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $270,180. The disclosure for this sale can be found here. Insiders have sold 139,222 shares of company stock valued at $19,819,981 over the last three months. Insiders own 0.15% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of United Technologies by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 68,834,966 shares of the conglomerate’s stock worth $8,962,313,000 after buying an additional 777,327 shares during the period. Morgan Stanley raised its holdings in shares of United Technologies by 2.0% in the second quarter. Morgan Stanley now owns 11,814,971 shares of the conglomerate’s stock valued at $1,538,310,000 after acquiring an additional 231,073 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of United Technologies by 2.5% in the third quarter. Fisher Asset Management LLC now owns 4,727,841 shares of the conglomerate’s stock valued at $645,445,000 after acquiring an additional 117,400 shares in the last quarter. Jensen Investment Management Inc. raised its holdings in shares of United Technologies by 24.7% in the second quarter. Jensen Investment Management Inc. now owns 3,968,549 shares of the conglomerate’s stock valued at $516,705,000 after acquiring an additional 785,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in United Technologies by 3.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,913,669 shares of the conglomerate’s stock worth $509,560,000 after acquiring an additional 128,576 shares during the period. Institutional investors and hedge funds own 80.99% 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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