United Technologies (NYSE:UTX) had its price target raised by research analysts at Cowen from $150.00 to $169.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the conglomerate’s stock. Cowen’s price target indicates a potential upside of 16.92% from the company’s previous close.
Several other research firms have also recently weighed in on UTX. Credit Suisse Group set a $162.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. Sanford C. Bernstein boosted their target price on shares of United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a report on Tuesday, September 17th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Wolfe Research set a $152.00 price target on United Technologies and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lifted their price objective on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $157.21.
UTX opened at $144.54 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75. The business has a fifty day simple moving average of $145.08 and a 200 day simple moving average of $134.78. United Technologies has a 1 year low of $100.48 and a 1 year high of $149.81. The company has a market capitalization of $128.06 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.07 and a beta of 1.22.
In related news, VP Robert J. Bailey sold 831 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $135.09, for a total value of $112,259.79. Following the sale, the vice president now owns 2,000 shares in the company, valued at approximately $270,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Hayes sold 19,542 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $133.35, for a total transaction of $2,605,925.70. Following the completion of the transaction, the chief executive officer now directly owns 246,111 shares in the company, valued at approximately $32,818,901.85. The disclosure for this sale can be found here. In the last three months, insiders sold 158,764 shares of company stock valued at $22,425,907. 0.15% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in UTX. Phocas Financial Corp. bought a new stake in shares of United Technologies during the second quarter worth approximately $25,000. Krane Funds Advisors LLC acquired a new stake in United Technologies during the second quarter worth about $26,000. Transamerica Financial Advisors Inc. bought a new position in United Technologies in the 2nd quarter valued at about $30,000. American National Bank bought a new position in United Technologies in the 3rd quarter valued at about $34,000. Finally, Financial Management Professionals Inc. raised its position in shares of United Technologies by 3,600.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 259 shares of the conglomerate’s stock valued at $35,000 after buying an additional 252 shares in the last quarter. 80.99% of the stock is owned by hedge funds and other 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.
Featured Story: What is Compound Annual Growth Rate (CAGR)?
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.