United Technologies (NYSE:UTX) Raised to “Buy” at Vertical Research

United Technologies (NYSE:UTX) was upgraded by research analysts at Vertical Research from a “hold” rating to a “buy” rating in a report released on Friday, The Fly reports.

UTX has been the topic of a number of other research reports. Seaport Global Securities began coverage on shares of United Technologies in a research note on Friday, May 10th. They issued a “neutral” rating and a $136.86 price target on the stock. William Blair reissued a “hold” rating on shares of United Technologies in a research note on Monday. JPMorgan Chase & Co. began coverage on shares of United Technologies in a research note on Friday, February 22nd. They issued an “overweight” rating and a $132.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $159.00 price target on shares of United Technologies in a research note on Wednesday, April 24th. Finally, Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $150.23.

NYSE:UTX opened at $124.81 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. The company has a market cap of $106.98 billion, a PE ratio of 16.40, a PEG ratio of 1.77 and a beta of 1.26. United Technologies has a 1-year low of $100.48 and a 1-year high of $144.40.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.20. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The firm had revenue of $18.37 billion during the quarter, compared to analyst estimates of $18.01 billion. During the same period in the previous year, the firm earned $1.77 EPS. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Analysts expect that United Technologies will post 7.97 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. WESPAC Advisors SoCal LLC acquired a new stake in United Technologies during the 4th quarter worth $26,000. Strategy Asset Managers LLC acquired a new position in shares of United Technologies during the 1st quarter valued at about $26,000. Harvest Group Wealth Management LLC acquired a new position in shares of United Technologies during the 1st quarter valued at about $33,000. Advisory Alpha LLC acquired a new position in shares of United Technologies during the 1st quarter valued at about $36,000. Finally, Braun Bostich & Associates Inc. boosted its position in shares of United Technologies by 73.0% during the 4th quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 154 shares during the last quarter. 80.67% of the stock is currently owned by institutional investors.

About United Technologies

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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