Investment Analysts’ Recent Ratings Updates for United Technologies Corp. (UTX)
Several brokerages have updated their recommendations and price targets on shares of United Technologies Corp. (NYSE: UTX) in the last few weeks:
- 10/10/2016 – United Technologies Corp. was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $100.58 price target on the stock, up previously from $99.20.
- 10/5/2016 – United Technologies Corp. is now covered by analysts at Robert W. Baird. They set a “neutral” rating and a $110.00 price target on the stock.
- 9/30/2016 – United Technologies Corp. had its “hold” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $109.00 price target on the stock. They wrote, “We continue to think consensus EPS for overall UTX is ~$0.30 too high for 2018 (see our recent deep-dive report Cutting estimates on Otis), and ongoing downwards pressure will likely mean that the valuation multiple, while relatively low, struggles to expand. We therefore retain our Neutral rating. 2017 commentary suggests gross margin pressure will persist in China… One of our main concerns on Otis is the China price war intensification evident YTD among OEMs, and the fact that this has not yet manifested in the Otis P&L. As this year’s orders (better volume market share for Otis, but worse pricing) start to be billed as sales, we think gross margins will struggle in 2017. Kone’s comments suggest that next year will see some moderation in the OE unit order declines in China (after a 5-10% decline in 2016), but declines are still likely (while property trends have shown stabilization this year, developers remain very cautious), and there may be no relief in pricing, with ‘competition to remain intense’. Hence, we could see this gross margin pressure persist for Otis through 2018.””
- 9/27/2016 – United Technologies Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “United Technologies is exposed to market price volatility and availability risks related to raw materials, which hampers its ability to meet delivery schedules and increases operating costs. With over 8,000 employees, United Technologies has a considerable presence in the U.K. Consequently, the company is susceptible to high operating risks following the Brexit referendum. The company is also heavily dependent on the U.S. government’s budgetary allocation for defense, which could have an adverse impact on its financial performance. The company has a positive earnings history in the trailing four quarters, beating estimates on all occasions. Earnings estimates have also remained steady over the last month. However, the company serves various end-markets which move according to their own cycles. This business mix and diversification allows the company to deliver consistent earnings and dividend growth.”
- 9/26/2016 – United Technologies Corp. had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co..
- 9/23/2016 – United Technologies Corp. had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $107.00 price target on the stock.
- 9/13/2016 – United Technologies Corp. had its “outperform” rating reaffirmed by analysts at Wells Fargo & Co..
Shares of United Technologies Corp. (NYSE:UTX) traded up 0.16% during mid-day trading on Wednesday, reaching $98.93. 3,816,609 shares of the company’s stock traded hands. The company has a market cap of $82.80 billion, a P/E ratio of 11.67 and a beta of 1.11. United Technologies Corp. has a 12-month low of $83.39 and a 12-month high of $109.83. The firm has a 50-day moving average of $103.51 and a 200 day moving average of $103.30.
United Technologies Corp. (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.14. United Technologies Corp. had a net margin of 12.79% and a return on equity of 18.14%. The firm had revenue of $14.90 billion for the quarter, compared to the consensus estimate of $14.67 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that United Technologies Corp. will post $6.58 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.67%. United Technologies Corp.’s payout ratio is 31.13%.
In other news, insider Robert J. Mcdonough sold 3,100 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $107.11, for a total value of $332,041.00. Following the completion of the sale, the insider now owns 11,349 shares in the company, valued at $1,215,591.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Charles D. Gill sold 7,144 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $108.05, for a total transaction of $771,909.20. Following the completion of the sale, the vice president now owns 55,278 shares of the company’s stock, valued at approximately $5,972,787.90. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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