United Technologies Corp.’s “Buy” Rating Reaffirmed at TheStreet (UTX)
United Technologies Corp. (NYSE:UTX)‘s stock had its “buy” rating reiterated by equities research analysts at TheStreet in a research note issued to investors on Friday, AnalystRatingsNetwork reports.
The analysts wrote, “United Technologies (UTX) has been reiterated by TheStreet Ratings as a buy with a ratings score of A. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
Shares of United Technologies Corp. (NYSE:UTX) traded down 0.57% on Friday, hitting $107.40. The stock had a trading volume of 1,080,831 shares. United Technologies Corp. has a 1-year low of $74.44 and a 1-year high of $112.46. The stock’s 50-day moving average is $106.2 and its 200-day moving average is $99.48. The company has a market cap of $98.540 billion and a price-to-earnings ratio of 15.64.
United Technologies Corp. (NYSE:UTX) last announced its 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 $6.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Wednesday, November 13th. This is a positive change from United Technologies Corp.’s previous quarterly dividend of $0.54.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of United Technologies Corp. in a research note to investors on Wednesday, October 2nd. They now have a $118.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of United Technologies Corp. from $114.00 to $120.00 in a research note to investors on Monday, September 30th. They now have an “outperform” rating on the stock. Finally, analysts at UBS AG reiterated a “buy” rating on shares of United Technologies Corp. in a research note to investors on Friday, August 2nd. They now have a $122.00 price target on the stock, up previously from $105.00. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock 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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