United Technologies Corporation (UTX) Earns “Buy” Rating from Bank of America Corporation
United Technologies Corporation (NYSE:UTX)‘s stock had its “buy” rating restated by research analysts at Bank of America Corporation in a note issued to investors on Wednesday. They currently have a $140.00 target price on the conglomerate’s stock. Bank of America Corporation’s price target would suggest a potential upside of 27.80% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on UTX. BidaskClub cut shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reissued a “hold” rating and issued a $125.00 price target on shares of United Technologies Corporation in a research report on Sunday, August 13th. Zacks Investment Research raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Tuesday, May 16th. Stifel Nicolaus reissued a “hold” rating and issued a $126.00 price target on shares of United Technologies Corporation in a research report on Friday, July 7th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of United Technologies Corporation in a research report on Wednesday, May 31st. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $124.48.
Shares of United Technologies Corporation (NYSE UTX) traded down 0.39% during mid-day trading on Wednesday, hitting $109.55. The company had a trading volume of 4,404,054 shares. The firm has a market capitalization of $87.51 billion, a price-to-earnings ratio of 16.69 and a beta of 1.05. The firm has a 50-day moving average price of $117.28 and a 200 day moving average price of $117.57. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. The firm had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $1.82 EPS. Analysts expect that United Technologies Corporation will post $6.57 earnings per share for the current year.
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Large investors have recently made changes to their positions in the stock. Tortoise Investment Management LLC raised its stake in United Technologies Corporation by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after acquiring an additional 48 shares in the last quarter. Seven Bridges Advisors LLC acquired a new stake in United Technologies Corporation during the 2nd quarter worth $120,000. Riggs Asset Managment Co. Inc. raised its stake in United Technologies Corporation by 14.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after acquiring an additional 125 shares in the last quarter. Winfield Associates Inc. raised its stake in United Technologies Corporation by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after acquiring an additional 29 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new stake in United Technologies Corporation during the 2nd quarter worth $131,000. Hedge funds and other institutional investors own 78.85% of the company’s stock.
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.
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