United Technologies Corp. Receives Outperform Rating from RBC Capital (UTX)
United Technologies Corp. (NYSE:UTX)‘s stock had its “outperform” rating reaffirmed by investment analysts at RBC Capital in a note issued to investors on Wednesday, Stock Ratings Network.com reports. They currently have a $118.00 target price on the stock. RBC Capital’s price objective suggests a potential upside of 9.89% from the stock’s previous close.
United Technologies Corp. (NYSE:UTX) traded down 2.35% during mid-day trading on Wednesday, hitting $104.86. 3,185,661 shares of the company’s stock traded hands. United Technologies Corp. has a 52-week low of $74.44 and a 52-week high of $112.46. The stock has a 50-day moving average of $105.6 and a 200-day moving average of $98.62. The company has a market cap of $96.210 billion and a P/E ratio of 15.54. United Technologies Corp. also was the target of unusually large options trading activity on Tuesday. Investors bought 11,374 put options on the stock. This represents an increase of approximately 375% compared to the average daily volume of 2,394 put options.
United Technologies Corp. (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.65 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.58 by $0.07. The company had revenue of $16.00 billion for the quarter, compared to the consensus estimate of $16.41 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts predict that United Technologies Corp. will post $6.15 earnings per share for the current fiscal year.
A number of other firms have also recently commented on UTX. Analysts at Credit Suisse raised their price target on shares of United Technologies Corp. (NYSE:UTX) from $114.00 to $120.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of United Technologies Corp. (NYSE:UTX) in a research note to investors on Wednesday, September 25th. Finally, analysts at TheStreet reiterated a “buy” rating on shares of United Technologies Corp. (NYSE:UTX) in a research note to investors on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. United Technologies Corp. presently has a consensus rating of “Buy” and an average price target of $113.33.
United Technologies Corporation (NYSE:UTX) provides high technology products and services to the building systems and aerospace industries worldwide.
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