United Technologies (NYSE:UTX) Hits New 12-Month High at $154.94

United Technologies Co. (NYSE:UTX) hit a new 52-week high on Friday . The stock traded as high as $154.94 and last traded at $154.90, with a volume of 763613 shares traded. The stock had previously closed at $153.55.

UTX has been the topic of several analyst reports. Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, November 28th. UBS Group increased their target price on United Technologies from $157.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday. Credit Suisse Group set a $162.00 target price on United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their target price on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Cowen increased their target price on United Technologies from $150.00 to $169.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $160.79.

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75. The company has a 50-day simple moving average of $149.69 and a two-hundred day simple moving average of $139.29. The stock has a market capitalization of $130.82 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.98 and a beta of 1.22.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.18. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.31 billion. During the same quarter in the prior year, the business posted $1.93 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts anticipate that United Technologies Co. will post 8.13 EPS for the current year.

In other news, VP Robert J. Bailey sold 1,299 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $149.17, for a total value of $193,771.83. Following the completion of the transaction, the vice president now owns 2,600 shares of the company’s stock, valued at $387,842. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Charles D. Gill sold 7,468 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $142.19, for a total value of $1,061,874.92. Following the completion of the transaction, the vice president now directly owns 55,208 shares of the company’s stock, valued at approximately $7,850,025.52. The disclosure for this sale can be found here. In the last three months, insiders sold 90,810 shares of company stock valued at $13,277,336. Company insiders own 0.15% of the company’s stock.

Several large investors have recently added to or reduced their stakes in UTX. Morgan Stanley boosted its stake in United Technologies by 2.0% during the second quarter. Morgan Stanley now owns 11,814,971 shares of the conglomerate’s stock valued at $1,538,310,000 after buying an additional 231,073 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of United Technologies by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 4,727,841 shares of the conglomerate’s stock valued at $645,445,000 after purchasing an additional 117,400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of United Technologies by 2.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,533,488 shares of the conglomerate’s stock valued at $482,392,000 after purchasing an additional 89,021 shares during the period. Nuveen Asset Management LLC boosted its position in shares of United Technologies by 1,510.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock valued at $433,442,000 after purchasing an additional 3,122,355 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of United Technologies by 1.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,480,766 shares of the conglomerate’s stock valued at $338,674,000 after purchasing an additional 31,077 shares during the period. 80.87% of the stock is owned by institutional investors.

United Technologies Company Profile (NYSE:UTX)

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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