According to Zacks, “United Technologies is exposed to market price volatility and availability risks related to raw materials, which hampers its ability to meet delivery schedules and increases operating costs. With over 8,000 employees, United Technologies has a considerable presence in the U.K. Consequently, the company is susceptible to high operating risks following the Brexit referendum. The company is also heavily dependent on the U.S. government’s budgetary allocation for defense, which could have an adverse impact on its financial performance. The company has a positive earnings history in the trailing four quarters, beating estimates on all occasions. Earnings estimates have also remained steady over the last month. However, the company serves various end-markets which move according to their own cycles. This business mix and diversification allows the company to deliver consistent earnings and dividend growth.”
A number of other equities research analysts have also recently weighed in on UTX. Sterne Agee CRT cut United Technologies Corp. from a buy rating to a neutral rating in a research note on Wednesday, June 1st. Royal Bank Of Canada reiterated a sector perform rating and issued a $108.00 price objective on shares of United Technologies Corp. in a research note on Tuesday, June 14th. Jefferies Group reiterated a buy rating on shares of United Technologies Corp. in a research note on Tuesday, July 5th. Credit Suisse Group AG reiterated a hold rating on shares of United Technologies Corp. in a research note on Saturday, July 9th. Finally, Bank of America Corp. reiterated a buy rating and issued a $130.00 price objective (up previously from $115.00) on shares of United Technologies Corp. in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. United Technologies Corp. has an average rating of Hold and an average price target of $110.36.
United Technologies Corp. (NYSE:UTX) opened at 101.06 on Tuesday. The firm has a 50-day moving average price of $105.33 and a 200-day moving average price of $103.10. United Technologies Corp. has a one year low of $83.39 and a one year high of $109.83. The stock has a market cap of $84.58 billion, a price-to-earnings ratio of 11.92 and a beta of 1.06.
United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.14. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The company earned $14.90 billion during the quarter, compared to analysts’ expectations of $14.67 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts predict that United Technologies Corp. will post $6.58 earnings per share for the current year.
In other news, VP Charles D. Gill sold 6,202 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $109.00, for a total value of $676,018.00. Following the sale, the vice president now directly owns 51,778 shares in the company, valued at $5,643,802. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert J. Mcdonough sold 3,100 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $107.11, for a total value of $332,041.00. Following the completion of the sale, the insider now owns 11,349 shares in the company, valued at $1,215,591.39. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. FMR LLC increased its stake in shares of United Technologies Corp. by 2.6% in the second quarter. FMR LLC now owns 21,986,379 shares of the company’s stock valued at $2,254,702,000 after buying an additional 549,366 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of United Technologies Corp. by 1.7% in the first quarter. Franklin Resources Inc. now owns 18,076,858 shares of the company’s stock valued at $1,809,493,000 after buying an additional 293,635 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of United Technologies Corp. by 1.3% in the second quarter. BlackRock Fund Advisors now owns 9,496,025 shares of the company’s stock valued at $973,817,000 after buying an additional 120,134 shares in the last quarter. Finally, Davis Selected Advisers increased its stake in shares of United Technologies Corp. by 4.8% in the second quarter. Davis Selected Advisers now owns 9,300,803 shares of the company’s stock valued at $953,797,000 after buying an additional 421,896 shares in the last quarter. Institutional investors and hedge funds own 80.18% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for United Technologies Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corp. and related companies with MarketBeat.com's FREE daily email newsletter.