Bank of America Corporation reiterated their buy rating on shares of United Technologies Corporation (NYSE:UTX) in a report published on Wednesday. Bank of America Corporation currently has a $140.00 price target on the conglomerate’s stock.

UTX has been the topic of a number of other reports. Cowen and Company lowered shares of United Technologies Corporation from an outperform rating to a market perform rating and reduced their price target for the company from $127.00 to $120.00 in a research report on Wednesday. Jefferies Group LLC restated a buy rating and issued a $139.00 price target on shares of United Technologies Corporation in a research report on Tuesday, August 29th. Credit Suisse Group restated a buy rating and issued a $136.00 price target on shares of United Technologies Corporation in a research report on Wednesday, July 26th. BidaskClub upgraded shares of United Technologies Corporation from a hold rating to a buy rating in a research report on Friday, June 30th. Finally, Morgan Stanley restated an overweight rating and issued a $138.00 price target (up from $132.00) on shares of United Technologies Corporation in a research report on Monday, July 10th. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $124.48.

Shares of United Technologies Corporation (UTX) opened at 109.55 on Wednesday. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The firm has a 50 day moving average of $117.28 and a 200 day moving average of $117.57. The firm has a market cap of $87.51 billion, a price-to-earnings ratio of 16.69 and a beta of 1.05.

United Technologies Corporation (NYSE:UTX) last issued its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.07. The business had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.82 EPS. Equities analysts predict that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s payout ratio is 42.68%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of United Technologies Corporation by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after buying an additional 848,623 shares during the last quarter. BlackRock Inc. raised its stake in shares of United Technologies Corporation by 0.3% during the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock worth $5,384,561,000 after buying an additional 133,036 shares during the last quarter. FMR LLC raised its stake in shares of United Technologies Corporation by 13.2% during the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after buying an additional 2,401,795 shares during the last quarter. Capital Research Global Investors raised its stake in shares of United Technologies Corporation by 3.6% during the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock worth $1,072,082,000 after buying an additional 304,989 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of United Technologies Corporation by 1.3% during the first quarter. Fisher Asset Management LLC now owns 8,535,397 shares of the conglomerate’s stock worth $957,757,000 after buying an additional 106,552 shares during the last quarter. 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.

Analyst Recommendations for United Technologies Corporation (NYSE:UTX)

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