United Technologies Corporation’s (UTX) “Neutral” Rating Reiterated at Credit Suisse Group
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of United Technologies Corporation from a buy rating to a hold rating in a research note on Tuesday, June 20th. BidaskClub lowered shares of United Technologies Corporation from a buy rating to a hold rating in a research note on Wednesday, July 19th. Sanford C. Bernstein reiterated a market perform rating and issued a $135.00 price target (up from $130.00) on shares of United Technologies Corporation in a research note on Friday, July 21st. UBS Group AG lifted their price target on shares of United Technologies Corporation to $135.00 and gave the company a buy rating in a research note on Monday, July 10th. Finally, Morgan Stanley reiterated an overweight rating and issued a $132.00 price target (up from $128.00) on shares of United Technologies Corporation in a research note on Thursday, June 22nd. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. United Technologies Corporation presently has an average rating of Hold and a consensus target price of $123.95.
Shares of United Technologies Corporation (NYSE:UTX) opened at 117.92 on Friday. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79. The company has a 50-day moving average of $118.86 and a 200-day moving average of $117.62. The company has a market capitalization of $94.19 billion, a PE ratio of 17.96 and a beta of 1.05.
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, beating the consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The firm had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the business earned $1.82 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, analysts anticipate that United Technologies Corporation will post $6.58 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.37%. United Technologies Corporation’s payout ratio is presently 42.68%.
Several hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in United Technologies Corporation by 13.2% in the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after purchasing an additional 2,401,795 shares during the period. Harbour Capital Advisors LLC boosted its holdings in United Technologies Corporation by 11,652.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock valued at $17,420,000 after purchasing an additional 2,109,056 shares during the period. Vanguard Group Inc. boosted its holdings in United Technologies Corporation by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after purchasing an additional 848,623 shares during the period. Flossbach Von Storch AG boosted its holdings in United Technologies Corporation by 95.6% in the 2nd quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock valued at $197,453,000 after purchasing an additional 790,496 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in United Technologies Corporation by 50.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock valued at $274,067,000 after purchasing an additional 756,600 shares during the period. 78.85% of the stock is owned by institutional investors and hedge funds.
About United Technologies Corporation
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.
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