Equities researchers at Robert W. Baird initiated coverage on shares of United Technologies Corp. (NYSE:UTX) in a research note issued to investors on Wednesday. The brokerage set a “neutral” rating and a $110.00 price target on the stock. Robert W. Baird’s price target suggests a potential upside of 7.76% from the company’s previous close.

A number of other research firms have also weighed in on UTX. Barclays PLC upped their target price on shares of United Technologies Corp. from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 27th. Zacks Investment Research lowered shares of United Technologies Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Stifel Nicolaus restated a “hold” rating on shares of United Technologies Corp. in a report on Sunday, July 31st. Deutsche Bank AG restated a “hold” rating and issued a $107.00 target price on shares of United Technologies Corp. in a report on Friday, September 23rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of United Technologies Corp. in a report on Monday, September 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $110.67.

Analyst Recommendations for United Technologies Corp. (NYSE:UTX)

Shares of United Technologies Corp. (NYSE:UTX) opened at 102.08 on Wednesday. The company has a market cap of $85.43 billion, a PE ratio of 12.04 and a beta of 1.11. United Technologies Corp. has a one year low of $83.39 and a one year high of $109.83. The stock’s 50 day moving average price is $104.30 and its 200-day moving average price is $103.25.

United Technologies Corp. (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.14. The company had revenue of $14.90 billion for the quarter, compared to analysts’ expectations of $14.67 billion. United Technologies Corp. had a net margin of 12.79% and a return on equity of 18.14%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 EPS. On average, analysts expect that United Technologies Corp. will post $6.58 EPS for the current year.

In related news, insider Robert J. Mcdonough sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $107.11, for a total value of $332,041.00. Following the completion of the transaction, the insider now directly owns 11,349 shares of the company’s stock, valued at approximately $1,215,591.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Charles D. Gill sold 7,144 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $108.05, for a total transaction of $771,909.20. Following the completion of the transaction, the vice president now directly owns 55,278 shares of the company’s stock, valued at $5,972,787.90. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its position in shares of United Technologies Corp. by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 1,895 shares of the company’s stock valued at $194,000 after buying an additional 5 shares during the last quarter. Ronna Sue Cohen increased its position in shares of United Technologies Corp. by 0.3% in the second quarter. Ronna Sue Cohen now owns 2,722 shares of the company’s stock valued at $279,000 after buying an additional 7 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its position in shares of United Technologies Corp. by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,902 shares of the company’s stock valued at $195,000 after buying an additional 10 shares during the last quarter. Vicus Capital increased its position in shares of United Technologies Corp. by 0.4% in the first quarter. Vicus Capital now owns 4,078 shares of the company’s stock valued at $408,000 after buying an additional 18 shares during the last quarter. Finally, Hudock Capital Group LLC increased its position in shares of United Technologies Corp. by 0.5% in the second quarter. Hudock Capital Group LLC now owns 3,639 shares of the company’s stock valued at $373,000 after buying an additional 18 shares during the last quarter. 80.18% of the stock is owned by institutional investors.

United Technologies Corp. Company Profile

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.

5 Day Chart for NYSE:UTX

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