United Technologies Corporation (UTX) Given a $126.00 Price Target at Royal Bank Of Canada
Royal Bank Of Canada set a $126.00 price objective on United Technologies Corporation (NYSE:UTX) in a report published on Sunday morning. The firm currently has a hold rating on the conglomerate’s stock.
A number of other research analysts have also recently commented on the company. Cowen and Company reiterated a hold rating and issued a $120.00 price objective on shares of United Technologies Corporation in a report on Friday. Zacks Investment Research upgraded United Technologies Corporation from a sell rating to a hold rating in a report on Thursday, October 26th. Stifel Nicolaus upped their price objective on United Technologies Corporation from $122.00 to $124.00 and gave the company a hold rating in a report on Wednesday, October 25th. Deutsche Bank AG decreased their price target on United Technologies Corporation from $125.00 to $120.00 and set a hold rating on the stock in a research note on Wednesday, September 6th. Finally, Bank of America Corporation restated a buy rating and set a $140.00 price target on shares of United Technologies Corporation in a research note on Wednesday, September 6th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. United Technologies Corporation currently has a consensus rating of Hold and a consensus price target of $125.15.
United Technologies Corporation (NYSE UTX) traded down $0.26 on Friday, reaching $118.11. The company had a trading volume of 3,122,500 shares, compared to its average volume of 2,763,679. United Technologies Corporation has a 12-month low of $106.21 and a 12-month high of $124.79. The firm has a market capitalization of $94,319.09, a PE ratio of 17.84, a PEG ratio of 2.13 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.
United Technologies Corporation (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. equities analysts predict that United Technologies Corporation will post 6.61 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio (DPR) is presently 43.41%.
In other United Technologies Corporation news, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the transaction, the executive vice president now owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Knowledge Leaders Capital LLC purchased a new position in shares of United Technologies Corporation during the third quarter worth about $105,000. Tortoise Investment Management LLC grew its holdings in shares of United Technologies Corporation by 5.3% during 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 during the last quarter. Seven Bridges Advisors LLC purchased a new position in shares of United Technologies Corporation during the second quarter worth about $120,000. Thompson Davis & CO. Inc. grew its holdings in shares of United Technologies Corporation by 750.4% during 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 during the last quarter. Finally, Winfield Associates Inc. grew its holdings in shares of United Technologies Corporation by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 29 shares during the last quarter. 78.80% of the stock is currently owned by institutional investors.
About United Technologies Corporation
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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