Shares of United Technologies Corporation (NYSE:UTX) have been assigned an average recommendation of “Hold” from the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $123.15.

Several brokerages recently issued reports on UTX. BidaskClub upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Jefferies Group LLC restated a “buy” rating and set a $132.00 target price (up from $126.00) on shares of United Technologies Corporation in a research report on Thursday, April 27th. Royal Bank Of Canada restated a “hold” rating and set a $125.00 target price on shares of United Technologies Corporation in a research report on Friday, June 2nd. Sanford C. Bernstein restated a “market perform” rating and set a $135.00 target price (up from $130.00) on shares of United Technologies Corporation in a research report on Friday, July 21st. Finally, Deutsche Bank AG boosted their target price on shares of United Technologies Corporation from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, April 28th.

Shares of United Technologies Corporation (NYSE UTX) traded down 0.36% during midday trading on Friday, reaching $115.68. 672,449 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $120.58 and a 200-day moving average of $117.09. 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 $92.40 billion, a P/E ratio of 17.62 and a beta of 1.06.

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

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s payout ratio is 42.68%.

Several institutional investors have recently added to or reduced their stakes in UTX. Alexandria Capital LLC increased its position in United Technologies Corporation by 0.3% in the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after buying an additional 3 shares during the period. Rowland & Co. Investment Counsel ADV increased its position in United Technologies Corporation by 0.3% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after buying an additional 3 shares during the period. TCI Wealth Advisors Inc. increased its position in United Technologies Corporation by 0.3% in the first quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock valued at $281,000 after buying an additional 7 shares during the period. Jackson Grant Investment Advisers Inc. increased its position in United Technologies Corporation by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock valued at $218,000 after buying an additional 8 shares during the period. Finally, First Command Financial Services Inc. increased its position in United Technologies Corporation by 0.3% in the first quarter. First Command Financial Services Inc. now owns 3,573 shares of the conglomerate’s stock valued at $401,000 after buying an additional 11 shares during the period. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

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United Technologies Corporation Company Profile

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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