Jefferies Group LLC restated their buy rating on shares of United Technologies Corporation (NYSE:UTX) in a research note released on Thursday morning. Jefferies Group also issued estimates for United Technologies Corporation’s Q3 2017 earnings at $1.70 EPS, Q4 2017 earnings at $1.57 EPS, FY2018 earnings at $7.00 EPS and FY2019 earnings at $7.65 EPS.

Several other equities research analysts have also commented on UTX. Zacks Investment Research upgraded shares of United Technologies Corporation from a hold rating to a buy rating and set a $135.00 price target on the stock in a research note on Tuesday, May 16th. UBS AG lifted their price target on shares of United Technologies Corporation to $135.00 and gave the stock a buy rating in a research note on Monday, July 10th. Royal Bank Of Canada reiterated a neutral rating on shares of United Technologies Corporation in a research note on Thursday, April 27th. Finally, Morgan Stanley lifted their price target on shares of United Technologies Corporation from $120.00 to $123.00 and gave the stock an overweight rating in a research note on Friday, April 28th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $123.54.

Shares of United Technologies Corporation (UTX) traded up 0.03% during trading on Thursday, hitting $118.90. The stock had a trading volume of 286,655 shares. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79. The stock’s 50 day moving average price is $121.79 and its 200-day moving average price is $116.37. The stock has a market cap of $94.97 billion, a P/E ratio of 18.11 and a beta of 1.07.

United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the business earned $1.82 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Analysts expect that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be issued a $0.70 dividend. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.36%. United Technologies Corporation’s payout ratio is presently 40.24%.

In other news, VP Robert J. Bailey sold 2,702 shares of United Technologies Corporation stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $119.53, for a total value of $322,970.06. Following the sale, the vice president now owns 5,000 shares of the company’s stock, valued at $597,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Philippe Delpech sold 7,696 shares of United Technologies Corporation stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total transaction of $925,982.72. Following the completion of the sale, the insider now directly owns 63,621 shares in the company, valued at approximately $7,654,878.72. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of UTX. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of United Technologies Corporation during the fourth quarter valued at $12,182,000. RB Capital Management LLC purchased a new stake in shares of United Technologies Corporation during the fourth quarter valued at $458,000. Empire Life Investments Inc. purchased a new stake in shares of United Technologies Corporation during the fourth quarter valued at $25,108,000. Capital Guardian Trust Co. increased its stake in shares of United Technologies Corporation by 23.3% in the fourth quarter. Capital Guardian Trust Co. now owns 3,339 shares of the conglomerate’s stock valued at $366,000 after buying an additional 630 shares during the last quarter. Finally, Barings LLC increased its stake in shares of United Technologies Corporation by 23.7% in the fourth quarter. Barings LLC now owns 49,702 shares of the conglomerate’s stock valued at $5,448,000 after buying an additional 9,530 shares during the last quarter. 78.45% of the stock is currently owned by institutional investors and hedge funds.

United Technologies Corporation 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.

Analyst Recommendations for United Technologies Corporation (NYSE:UTX)

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