United Technologies (NYSE:UTX) had its target price lifted by equities researchers at Cowen from $150.00 to $169.00 in a report released on Wednesday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the conglomerate’s stock. Cowen’s target price would indicate a potential upside of 16.92% from the company’s current price.

UTX has been the topic of a number of other reports. Sanford C. Bernstein upped their target price on United Technologies from $143.00 to $154.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price target on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. William Blair restated a “hold” rating on shares of United Technologies in a research note on Tuesday, September 3rd. Credit Suisse Group set a $162.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Wolfe Research set a $152.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research note on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. United Technologies presently has an average rating of “Buy” and an average price target of $157.21.

UTX stock opened at $144.54 on Wednesday. The stock has a market capitalization of $128.06 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.07 and a beta of 1.22. The company’s 50-day moving average is $145.08 and its 200-day moving average is $134.78. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75. United Technologies has a 1 year low of $100.48 and a 1 year high of $149.81.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.93 EPS. On average, analysts anticipate that United Technologies will post 8.14 earnings per share for the current fiscal year.

In other news, CFO Akhil Johri sold 4,680 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $135.29, for a total transaction of $633,157.20. Following the completion of the sale, the chief financial officer now directly owns 67,345 shares of the company’s stock, valued at approximately $9,111,105.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 1,299 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total value of $193,771.83. Following the sale, the vice president now directly owns 2,600 shares of the company’s stock, valued at $387,842. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,764 shares of company stock valued at $22,425,907. Company insiders own 0.15% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC boosted its holdings in United Technologies by 2.2% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the conglomerate’s stock valued at $447,000 after acquiring an additional 71 shares during the period. Eads & Heald Wealth Management lifted its position in shares of United Technologies by 0.5% during the 3rd quarter. Eads & Heald Wealth Management now owns 14,267 shares of the conglomerate’s stock worth $1,948,000 after buying an additional 72 shares during the last quarter. Glenview State Bank Trust DEPT. boosted its holdings in shares of United Technologies by 3.0% in the 2nd quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock valued at $331,000 after buying an additional 75 shares in the last quarter. Mcrae Capital Management Inc. boosted its holdings in shares of United Technologies by 1.4% in the 2nd quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock valued at $715,000 after buying an additional 75 shares in the last quarter. Finally, Heritage Way Advisors LLC boosted its holdings in shares of United Technologies by 0.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 18,501 shares of the conglomerate’s stock valued at $2,409,000 after buying an additional 75 shares in the last quarter. 80.99% of the stock is currently owned by institutional investors.

About United Technologies

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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Analyst Recommendations for United Technologies (NYSE:UTX)

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