Royal Bank of Canada upgraded shares of United Technologies (NYSE:UTX) from a sector perform rating to an outperform rating in a research report report published on Wednesday morning. The analysts noted that the move was a valuation call.
Other research analysts also recently issued research reports about the stock. Bank of America restated a buy rating and set a $140.00 price objective on shares of United Technologies in a research report on Wednesday, September 6th. Deutsche Bank lowered their price objective on shares of United Technologies from $125.00 to $120.00 and set a hold rating on the stock in a research report on Wednesday, September 6th. Vertical Research downgraded shares of United Technologies from a buy rating to a hold rating and set a $125.00 price objective on the stock. in a research report on Tuesday, September 5th. Cowen downgraded shares of United Technologies from an outperform rating to a market perform rating and lowered their price objective for the company from $127.00 to $120.00 in a research report on Wednesday, September 6th. Finally, Stifel Nicolaus increased their price objective on shares of United Technologies from $122.00 to $124.00 and gave the company a hold rating in a research report on Wednesday, October 25th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $125.63.
Shares of United Technologies (UTX) traded up $0.41 during midday trading on Wednesday, hitting $130.45. 3,601,000 shares of the stock traded hands, compared to its average volume of 3,110,000. The company has a market capitalization of $104,170.00, a P/E ratio of 20.19, a PEG ratio of 2.23 and a beta of 1.07. United Technologies has a 52-week low of $106.85 and a 52-week high of $130.87. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.05. The firm had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. equities research analysts forecast that United Technologies will post 6.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.15%. United Technologies’s payout ratio is presently 43.34%.
In other United Technologies news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert J. Bailey sold 864 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $126.01, for a total transaction of $108,872.64. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at $252,020. The disclosure for this sale can be found here. Insiders sold 16,466 shares of company stock worth $2,019,274 over the last quarter. Insiders own 0.16% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in UTX. Knowledge Leaders Capital LLC purchased a new stake in shares of United Technologies in the third quarter worth $105,000. Tortoise Investment Management LLC increased its stake in shares of United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of United Technologies in the third quarter worth $118,000. Seven Bridges Advisors LLC purchased a new stake in shares of United Technologies in the second quarter worth $120,000. Finally, Thompson Davis & CO. Inc. increased its stake in shares of United Technologies by 750.4% in the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after purchasing an additional 953 shares in the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
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United Technologies 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. Otis operates as an elevator and escalator manufacturing, installation and service company.
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