United Technologies Corporation (UTX) Given Consensus Recommendation of “Hold” by Brokerages
Shares of United Technologies Corporation (NYSE:UTX) have been given a consensus recommendation of “Hold” by the nineteen brokerages that are currently covering the stock, Marketbeat.com reports. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $125.57.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research cut United Technologies Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Cowen and Company cut United Technologies Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $127.00 to $120.00 in a report on Wednesday, September 6th. Bank of America Corporation reiterated a “buy” rating and set a $140.00 price target on shares of United Technologies Corporation in a report on Wednesday, September 6th. Jefferies Group LLC reiterated a “buy” rating and set a $139.00 price target on shares of United Technologies Corporation in a report on Tuesday, August 29th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $136.00 price target on shares of United Technologies Corporation in a report on Wednesday, July 26th.
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Large investors have recently added to or reduced their stakes in the stock. Knowledge Leaders Capital LLC purchased a new position in United Technologies Corporation during the 3rd quarter worth approximately $105,000. Riggs Asset Managment Co. Inc. grew 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 buying an additional 125 shares during the last quarter. Tortoise Investment Management LLC grew 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 buying an additional 48 shares during the last quarter. Seven Bridges Advisors LLC purchased a new position in United Technologies Corporation during the 2nd quarter worth approximately $120,000. Finally, Thompson Davis & CO. Inc. grew its stake in United Technologies Corporation by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after buying an additional 953 shares during the last quarter. Hedge funds and other institutional investors own 78.87% of the company’s stock.
Shares of United Technologies Corporation (NYSE UTX) opened at 119.76 on Wednesday. United Technologies Corporation has a 12 month low of $100.52 and a 12 month high of $124.79. The company has a 50-day moving average price of $117.00 and a 200-day moving average price of $118.77. The company has a market capitalization of $95.66 billion, a P/E ratio of 18.24 and a beta of 1.05.
United Technologies Corporation (NYSE:UTX) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 EPS. On average, analysts forecast that United Technologies Corporation will post $6.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.34%. United Technologies Corporation’s payout ratio is currently 43.41%.
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.
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