Zacks Investment Research downgraded shares of United Technologies Corporation (NYSE:UTX) from a buy rating to a hold rating in a report published on Thursday, July 13th.

According to Zacks, “United Technologies outperformed the Zacks categorized Diversified Operations industry year to date. Management also reaffirmed its guidance for 2017 on favorable growth dynamics. The business mix and diversification allows the company to deliver consistent earnings and dividend growth. The company is focused on revamping its aerospace unit to overhaul the organizational structure and accelerate inorganic growth through potential acquisition opportunities. However, United Technologies is exposed to market price volatility and availability risks related to raw materials, which hamper its ability to meet delivery schedules and increase operating costs. The company is susceptible to high operating risks following the Brexit referendum. Fluctuations in foreign currency exchange rates also affect the company’s net investment in foreign subsidiaries and cause instability in cash flows related to foreign denominated transactions.”

A number of other analysts also recently issued reports on the company. Royal Bank Of Canada raised their price target on United Technologies Corporation from $118.00 to $125.00 and gave the stock a sector perform rating in a research report on Thursday, April 27th. Vetr downgraded United Technologies Corporation from a hold rating to a sell rating and set a $108.06 price target for the company. in a research report on Monday, March 27th. Cowen and Company raised their price target on United Technologies Corporation from $120.00 to $127.00 and gave the stock an outperform rating in a research report on Friday, March 24th. Morgan Stanley raised their price target on United Technologies Corporation from $120.00 to $123.00 and gave the stock an overweight rating in a research report on Friday, April 28th. Finally, UBS AG raised their price target on United Technologies Corporation to $135.00 and gave the stock a buy rating in a research report on Monday, July 10th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $123.54.

Shares of United Technologies Corporation (UTX) opened at 118.19 on Thursday. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The company’s 50-day moving average is $121.76 and its 200-day moving average is $116.66. The company has a market capitalization of $94.41 billion, a price-to-earnings ratio of 18.00 and a beta of 1.06.

United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. The company had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. United Technologies Corporation’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.82 earnings per share. Analysts predict that United Technologies Corporation will post $6.59 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This report was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/08/09/united-technologies-corporation-nyseutx-downgraded-to-hold-at-zacks-investment-research-updated-updated-updated.html.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be issued a $0.70 dividend. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s payout ratio is presently 40.24%.

Institutional investors have recently bought and sold shares of the stock. Alexandria Capital LLC raised its position in United Technologies Corporation by 0.3% in the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after buying an additional 3 shares during the period. TCI Wealth Advisors Inc. raised its position in United Technologies Corporation by 0.3% in the first quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock valued at $281,000 after buying an additional 7 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in United Technologies Corporation by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 1,780 shares of the conglomerate’s stock valued at $200,000 after buying an additional 9 shares during the period. First Command Financial Services Inc. raised its position in United Technologies Corporation by 0.3% in the first quarter. First Command Financial Services Inc. now owns 3,573 shares of the conglomerate’s stock valued at $401,000 after buying an additional 11 shares during the period. Finally, Kissinger Financial Services LLC raised its position in United Technologies Corporation by 0.5% in the second quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock valued at $256,000 after buying an additional 11 shares during the period. Institutional investors own 78.81% of the company’s stock.

United Technologies Corporation 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. Otis operates as an elevator and escalator manufacturing, installation and service company.

Get a free copy of the Zacks research report on United Technologies Corporation (UTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for United Technologies Corporation (NYSE:UTX)

Receive News & Stock Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related stocks with our FREE daily email newsletter.