United Technologies (NYSE:UTX) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Friday, The Fly reports.
A number of other research firms also recently issued reports on UTX. Royal Bank of Canada upgraded shares of United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. They noted that the move was a valuation call. Cowen reiterated a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research report on Tuesday, October 24th. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Stifel Nicolaus lifted their price objective on shares of United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. United Technologies has a consensus rating of “Hold” and an average target price of $125.63.
United Technologies (UTX) opened at $130.45 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91. United Technologies has a 52-week low of $106.85 and a 52-week high of $130.87. The stock has a market cap of $103,846.03, a PE ratio of 20.22, a PEG ratio of 2.26 and a beta of 1.07.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The company had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same period last year, the firm posted $1.76 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. research analysts anticipate that United Technologies will post 6.61 earnings per share for the current year.
In other United Technologies news, VP Robert J. Bailey sold 827 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 864 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $126.01, for a total transaction of $108,872.64. Following the transaction, the vice president now directly owns 2,000 shares in the company, valued at approximately $252,020. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,466 shares of company stock worth $2,019,274. 0.16% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of United Technologies by 13.2% in the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares during the last quarter. Harbour Capital Advisors LLC grew its stake in shares of United Technologies by 11,652.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock worth $17,420,000 after purchasing an additional 2,109,056 shares during the last quarter. Stifel Financial Corp grew its stake in shares of United Technologies by 14,827.8% in the 3rd quarter. Stifel Financial Corp now owns 1,079,875 shares of the conglomerate’s stock worth $125,442,000 after purchasing an additional 1,072,641 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of United Technologies by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after purchasing an additional 848,623 shares during the last quarter. Finally, Flossbach Von Storch AG grew its stake in shares of United Technologies by 95.6% in the 2nd quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock worth $197,453,000 after purchasing an additional 790,496 shares during the last quarter. 80.07% of the stock is currently owned by hedge funds and other institutional investors.
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United Technologies 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.