United Technologies Corp. (NYSE:UTX) was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued on Monday. They presently have a $100.58 price target on the stock, up from their prior price target of $99.20. Citigroup Inc.’s price objective would indicate a potential upside of 1.83% from the company’s current price.
Several other research firms have also weighed in on UTX. Bank of America Corp. restated a “buy” rating and set a $130.00 price target (up from $115.00) on shares of United Technologies Corp. in a research report on Wednesday, July 27th. Jefferies Group restated a “buy” rating and set a $118.00 price target on shares of United Technologies Corp. in a research report on Wednesday, July 27th. Barclays PLC lifted their price objective on United Technologies Corp. from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 27th. Stifel Nicolaus reiterated a “hold” rating on shares of United Technologies Corp. in a research note on Sunday, July 31st. Finally, Zacks Investment Research upgraded United Technologies Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $110.04.
United Technologies Corp. (NYSE:UTX) opened at 98.77 on Monday. The company has a market cap of $82.66 billion, a P/E ratio of 11.65 and a beta of 1.11. The stock’s 50 day moving average price is $103.51 and its 200 day moving average price is $103.30. United Technologies Corp. has a 1-year low of $83.39 and a 1-year high of $109.83.
United Technologies Corp. (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ 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 had revenue of $14.90 billion for the quarter, compared to analyst estimates of $14.67 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that United Technologies Corp. will post $6.58 earnings per share for the current fiscal year.
In other news, insider Robert J. Mcdonough sold 3,100 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $107.11, for a total value of $332,041.00. Following the completion of the transaction, the insider now owns 11,349 shares of the company’s stock, valued at $1,215,591.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Charles D. Gill sold 7,144 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $108.05, for a total value of $771,909.20. Following the completion of the transaction, the vice president now directly 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. Company insiders own 0.15% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Lodestar Investment Counsel LLC IL raised its position in United Technologies Corp. by 3.0% in the second quarter. Lodestar Investment Counsel LLC IL now owns 174,686 shares of the company’s stock worth $17,914,000 after buying an additional 5,038 shares during the period. Bank of Montreal Can purchased a new stake in United Technologies Corp. during the second quarter worth approximately $100,023,000. Adage Capital Partners GP L.L.C. increased its stake in United Technologies Corp. by 92.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,743,598 shares of the company’s stock worth $174,534,000 after buying an additional 837,588 shares in the last quarter. Dearborn Partners LLC increased its stake in United Technologies Corp. by 2.7% in the second quarter. Dearborn Partners LLC now owns 156,790 shares of the company’s stock worth $16,079,000 after buying an additional 4,105 shares in the last quarter. Finally, Thomaspartners Inc. increased its stake in United Technologies Corp. by 8.4% in the first quarter. Thomaspartners Inc. now owns 1,276,500 shares of the company’s stock worth $127,778,000 after buying an additional 99,359 shares in the last quarter. 80.18% of the stock is owned by hedge funds and other institutional investors.
United Technologies Corp. 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. 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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