United Technologies Corporation (NYSE:UTX)‘s stock had its “hold” rating restated by research analysts at Royal Bank Of Canada in a note issued to investors on Sunday. They currently have a $125.00 price objective on the conglomerate’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 6.94% from the stock’s previous close.

A number of other brokerages have also weighed in on UTX. Zacks Investment Research raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Tuesday, May 16th. UBS AG lifted their price target on shares of United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Jefferies Group LLC reaffirmed a “buy” rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Morgan Stanley lifted their price target on shares of United Technologies Corporation from $120.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. Finally, BidaskClub lowered shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. United Technologies Corporation has an average rating of “Hold” and a consensus price target of $123.54.

Shares of United Technologies Corporation (UTX) traded up 0.11% during midday trading on Friday, hitting $116.89. 2,090,943 shares of the company traded hands. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The stock has a market capitalization of $93.37 billion, a P/E ratio of 17.81 and a beta of 1.06. The stock’s 50-day moving average is $121.18 and its 200 day moving average is $116.91.

United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The firm had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that United Technologies Corporation will post $6.58 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in United Technologies Corporation by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after buying an additional 2,401,795 shares during the period. Harbour Capital Advisors LLC raised its stake in United Technologies Corporation by 11,652.2% in the second quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock valued at $17,420,000 after buying an additional 2,109,056 shares during the period. Vanguard Group Inc. raised its stake in United Technologies Corporation by 1.6% in the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after buying an additional 848,623 shares during the period. Flossbach Von Storch AG raised its stake in United Technologies Corporation by 95.6% in the second quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock valued at $197,453,000 after buying an additional 790,496 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in United Technologies Corporation by 50.9% in the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock valued at $274,067,000 after buying an additional 756,600 shares during the period. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

About United Technologies Corporation

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. Otis operates as an elevator and escalator manufacturing, installation and service company.

Analyst Recommendations for United Technologies Corporation (NYSE:UTX)

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