United Technologies Corp. (NYSE:UTX) Given Consensus Recommendation of “Hold” by Analysts
Shares of United Technologies Corp. (NYSE:UTX) have been given an average rating of “Hold” by the seventeen research firms that are covering the firm. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $111.60.
Several equities research analysts recently issued reports on UTX shares. Jefferies Group reiterated a “buy” rating on shares of United Technologies Corp. in a research note on Tuesday, July 5th. Barclays PLC boosted their price objective on shares of United Technologies Corp. from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 27th. Stifel Nicolaus restated a “hold” rating on shares of United Technologies Corp. in a research report on Sunday, July 31st. Zacks Investment Research downgraded shares of United Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Finally, Bank of America Corp. restated a “buy” rating and set a $130.00 price objective (up from $115.00) on shares of United Technologies Corp. in a research report on Wednesday, July 27th.
United Technologies Corp. (NYSE:UTX) traded up 0.50% on Monday, hitting $102.11. The stock had a trading volume of 1,572,478 shares. The company has a market capitalization of $85.46 billion, a PE ratio of 12.04 and a beta of 1.11. United Technologies Corp. has a 12-month low of $83.39 and a 12-month high of $109.83. The company has a 50 day moving average of $105.11 and a 200 day moving average of $103.14.
United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.14. The business earned $14.90 billion during the quarter, compared to analysts’ expectations of $14.67 billion. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 earnings per share. On average, equities analysts expect that United Technologies Corp. will post $6.58 earnings per share for the current year.
In other United Technologies Corp. news, VP Charles D. Gill sold 7,144 shares of the company’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $108.05, for a total transaction of $771,909.20. Following the sale, the vice president now owns 55,278 shares of the company’s stock, valued at $5,972,787.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Charles D. Gill sold 6,202 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $109.00, for a total transaction of $676,018.00. Following the sale, the vice president now directly owns 51,778 shares in the company, valued at approximately $5,643,802. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Boston Partners boosted its position in United Technologies Corp. by 182.4% in the second quarter. Boston Partners now owns 4,192,600 shares of the company’s stock worth $429,951,000 after buying an additional 2,707,944 shares during the period. Vanguard Group Inc. boosted its position in United Technologies Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 51,710,590 shares of the company’s stock worth $5,302,921,000 after buying an additional 2,049,777 shares during the period. Emerald Acquisition Ltd. bought a new position in United Technologies Corp. during the second quarter worth about $178,242,000. Alliancebernstein L.P. boosted its position in United Technologies Corp. by 24.3% in the second quarter. Alliancebernstein L.P. now owns 8,627,389 shares of the company’s stock worth $884,739,000 after buying an additional 1,688,688 shares during the period. Finally, Bank of Montreal Can bought a new position in United Technologies Corp. during the second quarter worth about $100,023,000. 80.18% of the stock is currently owned by institutional investors and hedge funds.
About United Technologies Corp.
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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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