Wolfe Research assumed coverage on shares of United Technologies (NYSE:UTX) in a research report sent to investors on Wednesday morning. The firm issued an outperform rating on the conglomerate’s stock.
A number of other equities research analysts have also recently weighed in on UTX. UBS Group set a $155.00 price objective on United Technologies and gave the company a buy rating in a research note on Thursday, March 15th. Zacks Investment Research cut United Technologies from a hold rating to a sell rating in a research note on Friday, April 13th. Cowen reaffirmed a hold rating and issued a $141.00 price objective on shares of United Technologies in a research note on Tuesday, April 24th. Stifel Nicolaus dropped their price objective on United Technologies from $131.00 to $127.00 and set a hold rating for the company in a research note on Wednesday, April 25th. Finally, ValuEngine cut United Technologies from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. United Technologies presently has a consensus rating of Buy and an average price target of $140.31.
NYSE:UTX traded down $0.43 on Wednesday, reaching $123.93. The company’s stock had a trading volume of 18,185 shares, compared to its average volume of 3,859,305. United Technologies has a 12-month low of $109.10 and a 12-month high of $139.24. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $100.52 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.94 and a beta of 1.09.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, April 24th. The conglomerate reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.26. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The company had revenue of $15.24 billion for the quarter, compared to the consensus estimate of $14.62 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. sell-side analysts anticipate that United Technologies will post 7.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 annualized dividend and a yield of 2.26%. United Technologies’s payout ratio is 42.11%.
In other United Technologies news, insider Robert J. Mcdonough sold 10,770 shares of United Technologies stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $119.09, for a total transaction of $1,282,599.30. Following the completion of the sale, the insider now directly owns 40,612 shares of the company’s stock, valued at approximately $4,836,483.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles D. Gill sold 9,700 shares of United Technologies stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $128.47, for a total value of $1,246,159.00. Following the sale, the vice president now directly owns 25,029 shares of the company’s stock, valued at $3,215,475.63. The disclosure for this sale can be found here. Insiders have sold a total of 33,286 shares of company stock valued at $4,143,938 over the last three months. 0.17% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in UTX. BlackRock Inc. lifted its holdings in shares of United Technologies by 0.9% in the 1st quarter. BlackRock Inc. now owns 47,285,799 shares of the conglomerate’s stock valued at $5,949,501,000 after purchasing an additional 435,497 shares during the last quarter. Geode Capital Management LLC raised its stake in United Technologies by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 7,665,846 shares of the conglomerate’s stock valued at $975,815,000 after acquiring an additional 139,345 shares during the last quarter. Viking Global Investors LP raised its stake in United Technologies by 42.7% during the 4th quarter. Viking Global Investors LP now owns 5,963,163 shares of the conglomerate’s stock valued at $760,721,000 after acquiring an additional 1,784,355 shares during the last quarter. Boston Partners raised its stake in United Technologies by 1.0% during the 1st quarter. Boston Partners now owns 5,402,756 shares of the conglomerate’s stock valued at $679,775,000 after acquiring an additional 54,027 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in United Technologies by 2.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,753,925 shares of the conglomerate’s stock valued at $606,459,000 after acquiring an additional 122,413 shares during the last quarter. 81.24% of the stock is owned by institutional investors.
United Technologies Company Profile
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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