Shares of United Technologies Corp. (NYSE:UTX) have been given an average rating of “Hold” by the seventeen ratings firms that are presently covering the company. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $111.60.
Several research analysts have recently issued reports on the stock. Credit Suisse Group AG reiterated a “hold” rating on shares of United Technologies Corp. in a research note on Saturday, July 9th. Bank of America Corp. reissued a “buy” rating and set a $130.00 price objective (up from $115.00) on shares of United Technologies Corp. in a report on Wednesday, July 27th. Jefferies Group reissued a “buy” rating and set a $118.00 price objective on shares of United Technologies Corp. in a report on Wednesday, July 27th. Stifel Nicolaus reissued a “hold” rating on shares of United Technologies Corp. in a report on Sunday, July 31st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $108.00 price objective on shares of United Technologies Corp. in a report on Tuesday, June 14th.
In other United Technologies Corp. news, insider Robert J. Mcdonough sold 3,100 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $107.11, for a total transaction of $332,041.00. Following the completion of the transaction, the insider now owns 11,349 shares in the company, valued at $1,215,591.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Charles D. Gill sold 7,144 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $108.05, for a total transaction of $771,909.20. Following the transaction, the vice president now owns 55,278 shares of the company’s stock, valued at approximately $5,972,787.90. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in UTX. Boston Partners raised its position in United Technologies Corp. by 182.4% in the second quarter. Boston Partners now owns 4,192,600 shares of the company’s stock valued at $429,951,000 after buying an additional 2,707,944 shares during the period. Vanguard Group Inc. raised its position in United Technologies Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 51,710,590 shares of the company’s stock valued at $5,302,921,000 after buying an additional 2,049,777 shares during the period. Emerald Acquisition Ltd. acquired a new position in United Technologies Corp. during the second quarter valued at approximately $178,242,000. Alliancebernstein L.P. raised its position in United Technologies Corp. by 24.3% in the second quarter. Alliancebernstein L.P. now owns 8,627,389 shares of the company’s stock valued at $884,739,000 after buying an additional 1,688,688 shares during the period. Finally, Bank of Montreal Can acquired a new position in United Technologies Corp. during the second quarter valued at approximately $100,023,000. Institutional investors and hedge funds own 80.18% of the company’s stock.
Shares of United Technologies Corp. (NYSE:UTX) traded up 0.50% on Monday, reaching $102.11. 1,572,478 shares of the company’s stock traded hands. United Technologies Corp. has a 52-week low of $83.39 and a 52-week high of $109.83. The stock has a market cap of $85.46 billion, a price-to-earnings ratio of 12.04 and a beta of 1.11. The firm’s 50-day moving average is $105.11 and its 200-day moving average is $103.14.
United Technologies Corp. (NYSE:UTX) last issued its earnings results on Tuesday, July 26th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.14. The firm had revenue of $14.90 billion for the quarter, compared to the consensus estimate of $14.67 billion. United Technologies Corp. had a net margin of 12.79% and a return on equity of 18.14%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Analysts anticipate that United Technologies Corp. will post $6.58 EPS for the current fiscal year.
About United Technologies Corp.
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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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