United Technologies (UTX) Rating Increased to Overweight at Atlantic Securities
United Technologies (NYSE:UTX) was upgraded by Atlantic Securities from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday.
A number of other research analysts have also recently commented on UTX. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Cowen reissued a “buy” rating and set a $127.00 target price on shares of United Technologies in a research report on Tuesday, September 5th. Credit Suisse Group reissued a “neutral” rating on shares of United Technologies in a research report on Friday, September 1st. Jefferies Group reissued a “buy” rating and set a $139.00 target price on shares of United Technologies in a research report on Tuesday, August 29th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $125.00 target price on shares of United Technologies in a research report on Sunday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $125.15.
United Technologies (NYSE:UTX) opened at $121.20 on Tuesday. The firm has a market cap of $95,860.34, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 2.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. United Technologies has a 12-month low of $106.85 and a 12-month high of $124.79.
United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. United Technologies’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 earnings per share. equities research analysts predict that United Technologies will post 6.61 EPS for the current year.
In other United Technologies news, VP Robert J. Bailey sold 827 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total transaction of $97,635.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Akhil Johri sold 5,979 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $121.03, for a total value of $723,638.37. Following the sale, the vice president now owns 23,295 shares in the company, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. Insiders sold a total of 9,792 shares of company stock valued at $1,182,520 over the last three months. 0.16% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of United Technologies by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after purchasing an additional 848,623 shares during the period. BlackRock Inc. increased its holdings in shares of United Technologies by 0.3% in the 2nd quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after purchasing an additional 133,036 shares during the period. FMR LLC increased its holdings in shares of United Technologies by 13.2% in the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after purchasing an additional 2,401,795 shares during the period. Capital Research Global Investors increased its holdings in shares of United Technologies by 3.6% in the 2nd quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after purchasing an additional 304,989 shares during the period. Finally, Boston Partners increased its holdings in shares of United Technologies by 5.3% in the 3rd quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock valued at $634,658,000 after purchasing an additional 274,184 shares during the period. Hedge funds and other institutional investors own 80.20% 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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