Goldman Sachs Group Upgrades United Technologies (UTX) to Buy

United Technologies (NYSE:UTX) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, January 8th, MarketBeat Ratings reports.

A number of other equities research analysts have also recently issued reports on UTX. Royal Bank of Canada upgraded United Technologies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Cowen reissued a “hold” rating and set a $120.00 target price 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. Finally, Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $125.63.

Shares of United Technologies (UTX) opened at $136.58 on Monday. The company has a market capitalization of $109,070.00, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 2.37 and a beta of 1.07. 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 has a 12 month low of $106.85 and a 12 month high of $136.58.

United Technologies (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. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter in the previous year, the business posted $1.76 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. equities research analysts expect that United Technologies will post 6.61 earnings per share for the current fiscal year.

In other news, VP Robert J. Bailey sold 864 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $126.01, for a total transaction of $108,872.64. Following the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $252,020. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,466 shares of company stock worth $2,019,274. Insiders own 0.16% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Knowledge Leaders Capital LLC acquired a new stake in shares of United Technologies during the 3rd quarter worth $105,000. Tortoise Investment Management LLC grew its holdings in shares of United Technologies by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of United Technologies during the 3rd quarter worth $118,000. Seven Bridges Advisors LLC bought a new stake in shares of United Technologies during the 2nd quarter worth $120,000. Finally, Thompson Davis & CO. Inc. lifted its position in shares of United Technologies by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after buying an additional 953 shares during the last quarter. 80.07% of the stock is currently owned by institutional investors.

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About United Technologies

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.

Analyst Recommendations for United Technologies (NYSE:UTX)

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