United Technologies (UTX) Upgraded to Outperform at Robert W. Baird
Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada set a $126.00 price target on United Technologies and gave the company a hold rating in a report on Sunday, November 12th. Cowen reaffirmed a hold rating and set a $120.00 price target on shares of United Technologies in a report on Friday, November 10th. Zacks Investment Research raised United Technologies from a sell rating to a hold rating in a report on Thursday, October 26th. Stifel Nicolaus raised their price target on United Technologies from $122.00 to $124.00 and gave the company a hold rating in a report on Wednesday, October 25th. Finally, Atlantic Securities raised United Technologies from a neutral rating to an overweight rating in a report on Tuesday, December 5th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. United Technologies presently has a consensus rating of Hold and a consensus target price of $125.63.
Shares of United Technologies (UTX) traded up $1.25 on Friday, hitting $132.82. The stock had a trading volume of 6,624,100 shares, compared to its average volume of 4,412,720. United Technologies has a fifty-two week low of $106.85 and a fifty-two week high of $135.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The firm has a market cap of $107,070.00, a PE ratio of 20.56, a PEG ratio of 2.29 and a beta of 1.07.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were given a $0.70 dividend. The ex-dividend date was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.11%. United Technologies’s payout ratio is 43.34%.
In other United Technologies news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now directly owns 27,548 shares in the company, valued at approximately $3,332,757.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Bailey sold 864 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at $252,020. The disclosure for this sale can be found here. Insiders sold a total of 16,466 shares of company stock worth $2,019,274 over the last quarter. Corporate insiders own 0.16% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in UTX. Connecticut Wealth Management LLC boosted its position in shares of United Technologies by 10.1% in the 2nd quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock worth $1,473,000 after purchasing an additional 1,098 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of United Technologies by 0.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,695,965 shares of the conglomerate’s stock worth $207,154,000 after purchasing an additional 9,664 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of United Technologies by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock worth $2,281,000 after purchasing an additional 1,447 shares during the last quarter. Delaney Dennis R boosted its position in shares of United Technologies by 28.4% in the 2nd quarter. Delaney Dennis R now owns 4,855 shares of the conglomerate’s stock worth $593,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Stoneridge Investment Partners LLC boosted its position in shares of United Technologies by 755.1% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock worth $4,051,000 after purchasing an additional 29,298 shares during the last quarter. Hedge funds and other institutional investors own 80.07% 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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