United Technologies Corp. Given New $115.00 Price Target at Morgan Stanley (UTX)
Investment analysts at Morgan Stanley upped their price objective on shares of United Technologies Corp. (NYSE:UTX) from $114.00 to $115.00 in a note issued to investors on Wednesday, American Banking News.com reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 8.09% from the stock’s previous close.
United Technologies Corp. (NYSE:UTX) traded up 0.24% on Wednesday, hitting $106.39. 3,399,020 shares of the company’s stock traded hands. United Technologies Corp. has a one year low of $74.44 and a one year high of $109.13. The stock has a 50-day moving average of $104.3 and a 200-day moving average of $96.97. The company has a market cap of $97.614 billion and a price-to-earnings ratio of 15.36.
United Technologies Corp. (NYSE:UTX) last announced its earnings results on Tuesday, October 22nd. The company reported $1.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.54 by $0.01. The company had revenue of $15.50 billion for the quarter, compared to the consensus estimate of $16.18 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts expect that United Technologies Corp. will post $6.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Stockholders 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 2.21%. The ex-dividend date is Wednesday, November 13th. This is a boost from United Technologies Corp.’s previous quarterly dividend of $0.54.
A number of other firms have also recently commented on UTX. Analysts at JPMorgan Chase & Co. raised their price target on shares of United Technologies Corp. from $110.00 to $113.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of United Technologies Corp. in a research note to investors on Wednesday. They now have a $111.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of United Technologies Corp. in a research note to investors on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $113.83.
United Technologies Corporation (NYSE:UTX) provides high technology products and services to the building systems and aerospace industries worldwide.
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