United Technologies Downgraded to Market Perform at Cowen and Company (UTX)
United Technologies (NYSE:UTX) was downgraded by stock analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $118.00 price objective on the stock, down from their previous price objective of $135.00. Cowen and Company’s price target points to a potential upside of 11.62% from the stock’s previous close.
UTX has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of United Technologies from $132.00 to $138.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Barclays cut their price target on shares of United Technologies from $135.00 to $129.00 in a research note on Wednesday, July 23rd. They now have an “overweight” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of United Technologies in a research note on Wednesday, July 23rd. They now have a $123.00 price target on the stock, down previously from $125.00. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $127.26.
United Technologies (NYSE:UTX) opened at 105.72 on Tuesday. United Technologies has a one year low of $99.50 and a one year high of $120.66. The stock’s 50-day moving average is $111.3 and its 200-day moving average is $114.7. The company has a market cap of $96.714 billion and a P/E ratio of 16.74.
United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, July 22nd. The company reported $1.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.70 by $0.14. The company had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.81 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts predict that United Technologies will post $6.86 earnings per share for the current fiscal year.
United Technologies Corporation (NYSE:UTX) provides high technology products and services to the building systems and aerospace industries worldwide.
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