Cowen Reiterates “Hold” Rating for United Technologies (UTX)

United Technologies (NYSE:UTX)‘s stock had its “hold” rating reaffirmed by stock analysts at Cowen in a research note issued to investors on Sunday. They currently have a $141.00 price objective on the conglomerate’s stock. Cowen’s price objective points to a potential upside of 12.77% from the stock’s current price.

Several other equities analysts also recently commented on the company. Argus upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Friday. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Sanford C. Bernstein restated a “positive” rating and set a $153.00 target price (up previously from $135.00) on shares of United Technologies in a research report on Tuesday, January 30th. Stifel Nicolaus restated a “hold” rating and set a $146.00 target price (up previously from $124.00) on shares of United Technologies in a research report on Thursday, January 25th. Finally, UBS Group assumed coverage on United Technologies in a research report on Tuesday, January 23rd. They set a “buy” rating and a $158.00 target price for the company. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $136.15.

United Technologies (NYSE:UTX) traded down $2.45 during trading on Friday, hitting $125.03. The company had a trading volume of 12,060,398 shares, compared to its average volume of 4,880,000. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94. The company has a market cap of $99,850.00, a P/E ratio of 21.94, a PEG ratio of 2.12 and a beta of 1.08. United Technologies has a 1-year low of $107.05 and a 1-year high of $139.24.

United Technologies (NYSE:UTX) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.04. The business had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. United Technologies’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $1.56 EPS. sell-side analysts anticipate that United Technologies will post 7.01 EPS for the current year.

In other news, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth B. Amato sold 4,341 shares of United Technologies stock in a transaction on Friday, December 15th. The shares were sold at an average price of $125.92, for a total value of $546,618.72. Following the completion of the sale, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at $3,667,042.24. The disclosure for this sale can be found here. Insiders sold a total of 13,480 shares of company stock valued at $1,658,028 over the last three months. Insiders own 0.16% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. increased its stake in shares of United Technologies by 3.4% in the 4th quarter. First Republic Investment Management Inc. now owns 815,376 shares of the conglomerate’s stock valued at $104,017,000 after buying an additional 26,586 shares during the period. Alexandria Capital LLC grew its stake in shares of United Technologies by 993.0% during the fourth quarter. Alexandria Capital LLC now owns 11,815 shares of the conglomerate’s stock worth $1,508,000 after purchasing an additional 10,734 shares during the period. Timber Hill LLC grew its stake in shares of United Technologies by 522.4% during the fourth quarter. Timber Hill LLC now owns 13,692 shares of the conglomerate’s stock worth $1,747,000 after purchasing an additional 11,492 shares during the period. Alpha Cubed Investments LLC grew its stake in shares of United Technologies by 9.4% during the fourth quarter. Alpha Cubed Investments LLC now owns 132,625 shares of the conglomerate’s stock worth $16,919,000 after purchasing an additional 11,449 shares during the period. Finally, GM Advisory Group Inc. acquired a new stake in shares of United Technologies during the fourth quarter worth $252,000. 80.01% of the stock is owned by institutional investors.

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About United Technologies

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 (NYSE:UTX)

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