RBC Capital Trims United Technologies Target Price to $131.00 (UTX)
Research analysts at RBC Capital lowered their target price on shares of United Technologies (NYSE:UTX) from $138.00 to $131.00 in a report released on Tuesday. RBC Capital’s price objective suggests a potential upside of 21.32% from the stock’s previous close.
A number of other analysts have also recently weighed in on UTX. Analysts at Cowen and Company downgraded shares of United Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 12th. They now have a $118.00 price target on the stock, down previously from $135.00. 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 research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $126.76.
In other United Technologies news, CEO Geraud Darnis sold 50,000 shares of United Technologies stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $109.45, for a total transaction of $5,472,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of United Technologies (NYSE:UTX) traded up 0.94% during mid-day trading on Tuesday, hitting $109.00. The stock had a trading volume of 2,885,325 shares. United Technologies has a 52-week low of $101.09 and a 52-week high of $120.66. The stock’s 50-day moving average is $108.6 and its 200-day moving average is $114.3. The company has a market cap of $99.714 billion and a P/E ratio of 17.10.
United Technologies (NYSE:UTX) last released its earnings data on Tuesday, July 22nd. The company reported $1.84 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.65 earnings per share. United Technologies’s revenue was up 7.4% compared to the same quarter last year. 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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