ValuEngine upgraded shares of United Technologies (NYSE:UTX) from a hold rating to a buy rating in a research report sent to investors on Friday.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded United Technologies from a hold rating to a buy rating and set a $159.00 target price for the company in a research note on Tuesday, September 25th. UBS Group assumed coverage on United Technologies in a research note on Wednesday, August 15th. They issued a buy rating for the company. Robert W. Baird lifted their price target on United Technologies from $156.00 to $167.00 and gave the company a neutral rating in a research report on Thursday, September 20th. Finally, Royal Bank of Canada dropped their price target on United Technologies to $148.00 and set an outperform rating for the company in a research report on Wednesday, October 24th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. United Technologies presently has a consensus rating of Buy and an average price target of $151.45.
Shares of NYSE UTX opened at $127.98 on Friday. United Technologies has a 52 week low of $115.40 and a 52 week high of $144.15. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $103.36 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 2.03 and a beta of 1.09.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The business had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter last year, the company earned $1.73 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that United Technologies will post 7.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, November 15th. This is an increase from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is 44.21%.
Institutional investors and hedge funds have recently modified their holdings of the company. Reynders McVeigh Capital Management LLC raised its holdings in shares of United Technologies by 5.5% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 27,383 shares of the conglomerate’s stock valued at $3,828,000 after buying an additional 1,438 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of United Technologies by 120.8% during the 3rd quarter. Belpointe Asset Management LLC now owns 8,672 shares of the conglomerate’s stock valued at $1,212,000 after buying an additional 4,745 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of United Technologies by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 59,240,301 shares of the conglomerate’s stock valued at $8,282,386,000 after buying an additional 1,094,947 shares in the last quarter. Dodge & Cox raised its holdings in shares of United Technologies by 25.7% during the 3rd quarter. Dodge & Cox now owns 2,200 shares of the conglomerate’s stock valued at $308,000 after buying an additional 450 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of United Technologies by 5.5% during the 3rd quarter. Morgan Stanley now owns 12,431,324 shares of the conglomerate’s stock valued at $1,738,025,000 after buying an additional 649,983 shares in the last quarter. Hedge funds and other institutional investors own 82.16% of the company’s stock.
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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