United Technologies Co. (UTX) Receives Consensus Rating of “Hold” from Analysts
Shares of United Technologies Co. (NYSE:UTX) have received a consensus rating of “Hold” from the seventeen research firms that are presently covering the firm. Twelve analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $115.84.
Several equities analysts recently commented on the stock. Royal Bank of Canada cut their target price on shares of United Technologies from $121.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, January 12th. Credit Suisse Group AG upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating and upped their target price for the company from $108.00 to $125.00 in a research note on Monday, December 19th. Vetr cut shares of United Technologies from a “buy” rating to a “hold” rating and set a $114.78 target price for the company. in a research note on Tuesday, February 21st. Jefferies Group LLC reiterated a “buy” rating and set a $126.00 target price on shares of United Technologies in a research note on Monday, March 13th. Finally, Argus cut shares of United Technologies from a “buy” rating to a “hold” rating and upped their target price for the company from $110.96 to $115.00 in a research note on Thursday, January 26th. They noted that the move was a valuation call.
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In other United Technologies news, insider Robert J. Mcdonough sold 300 shares of the business’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $111.32, for a total value of $33,396.00. Following the sale, the insider now owns 11,049 shares of the company’s stock, valued at approximately $1,229,974.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Akhil Johri sold 2,209 shares of the business’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $111.41, for a total transaction of $246,104.69. Following the completion of the sale, the vice president now directly owns 19,100 shares in the company, valued at approximately $2,127,931. The disclosure for this sale can be found here. Insiders sold a total of 44,497 shares of company stock worth $4,982,862 in the last three months. Insiders own 0.15% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Dodge & Cox acquired a new stake in shares of United Technologies during the fourth quarter valued at about $254,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of United Technologies during the fourth quarter valued at about $198,000. Norges Bank acquired a new stake in shares of United Technologies during the fourth quarter valued at about $740,872,000. Sowell Financial Services LLC acquired a new stake in shares of United Technologies during the fourth quarter valued at about $188,000. Finally, I.G. Investment Management LTD. raised its stake in shares of United Technologies by 21.1% in the fourth quarter. I.G. Investment Management LTD. now owns 1,516,211 shares of the company’s stock valued at $166,207,000 after buying an additional 264,565 shares during the period. 79.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of United Technologies (NYSE:UTX) opened at 113.51 on Thursday. The company has a market capitalization of $91.47 billion, a P/E ratio of 18.55 and a beta of 1.09. The company has a 50-day moving average of $111.56 and a 200 day moving average of $107.26. United Technologies has a 12 month low of $96.89 and a 12 month high of $114.44.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Wednesday, January 25th. The company reported $1.56 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.56. United Technologies had a net margin of 8.83% and a return on equity of 18.13%. The business earned $14.70 billion during the quarter, compared to analysts’ expectations of $14.70 billion. During the same period in the previous year, the company earned $1.37 earnings per share. United Technologies’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts forecast that United Technologies will post $6.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 17th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 43.21%.
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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