Cowen and Company reissued their hold rating on shares of United Technologies Corporation (NYSE:UTX) in a research report report published on Friday morning. The firm currently has a $120.00 target price on the conglomerate’s stock.
Several other brokerages have also commented on UTX. Zacks Investment Research upgraded United Technologies Corporation from a sell rating to a hold rating in a research note on Thursday, October 26th. Jefferies Group LLC restated a buy rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Credit Suisse Group restated a neutral rating on shares of United Technologies Corporation in a research note on Friday, September 1st. BidaskClub lowered United Technologies Corporation from a hold rating to a sell rating in a research note on Tuesday, August 1st. Finally, Royal Bank Of Canada restated a hold rating and set a $125.00 price target on shares of United Technologies Corporation in a research note on Sunday, August 13th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $125.15.
United Technologies Corporation (NYSE:UTX) opened at $117.07 on Friday. The company has a market capitalization of $94,319.09, a price-to-earnings ratio of 17.84, a P/E/G ratio of 2.13 and a beta of 1.07. United Technologies Corporation has a 12 month low of $106.21 and a 12 month high of $124.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91.
United Technologies Corporation (NYSE:UTX) last released its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The firm had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 earnings per share. equities analysts predict that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio is currently 43.41%.
In related news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the completion of the transaction, the executive vice president now owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cadinha & Co. LLC boosted its holdings in United Technologies Corporation by 30.9% in the third quarter. Cadinha & Co. LLC now owns 10,110 shares of the conglomerate’s stock valued at $1,174,000 after purchasing an additional 2,387 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in United Technologies Corporation by 17.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 44,164 shares of the conglomerate’s stock valued at $5,127,000 after purchasing an additional 6,650 shares during the last quarter. First Republic Investment Management Inc. boosted its holdings in United Technologies Corporation by 2.0% in the third quarter. First Republic Investment Management Inc. now owns 788,790 shares of the conglomerate’s stock valued at $91,563,000 after purchasing an additional 15,800 shares during the last quarter. Anchor Bolt Capital LP purchased a new position in United Technologies Corporation in the third quarter valued at about $12,578,000. Finally, Lenox Wealth Management Inc. boosted its holdings in United Technologies Corporation by 7.2% in the third quarter. Lenox Wealth Management Inc. now owns 6,480 shares of the conglomerate’s stock valued at $752,000 after purchasing an additional 433 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.
About United Technologies Corporation
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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