United Technologies Co. (NYSE:UTX) has been given a consensus recommendation of “Buy” by the twenty research firms that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $142.00.
Several equities analysts have recently commented on UTX shares. Barclays boosted their price objective on United Technologies from $157.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. UBS Group set a $155.00 target price on United Technologies and gave the stock a “buy” rating in a research report on Thursday, March 15th. Zacks Investment Research downgraded United Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 13th. Cowen reiterated a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research report on Tuesday, April 24th. Finally, Stifel Nicolaus decreased their target price on United Technologies from $131.00 to $127.00 and set a “hold” rating on the stock in a research report on Wednesday, April 25th.
Get United Technologies alerts:
Shares of United Technologies stock traded down $2.44 during trading hours on Thursday, hitting $125.05. The company’s stock had a trading volume of 5,816,700 shares, compared to its average volume of 4,527,070. United Technologies has a 12-month low of $109.10 and a 12-month high of $139.24. The company has a market capitalization of $101.54 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.96 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 0.77.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, April 24th. The conglomerate reported $1.77 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $15.24 billion for the quarter, compared to the consensus estimate of $14.62 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. equities analysts expect that United Technologies will post 7.13 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders 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 2.24%. United Technologies’s payout ratio is currently 42.11%.
In related news, Director Fredric G. Reynolds acquired 9,000 shares of United Technologies stock in a transaction on Friday, April 27th. The shares were bought at an average cost of $121.58 per share, with a total value of $1,094,220.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akhil Johri sold 6,259 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $128.30, for a total value of $803,029.70. Following the sale, the chief financial officer now directly owns 47,088 shares in the company, valued at $6,041,390.40. The disclosure for this sale can be found here. Insiders have sold 33,286 shares of company stock worth $4,143,938 over the last three months. 0.17% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Almanack Investment Partners LLC. bought a new position in shares of United Technologies during the fourth quarter valued at approximately $103,000. Silvant Capital Management LLC bought a new position in shares of United Technologies during the first quarter valued at approximately $113,000. Centerpoint Advisors LLC bought a new position in shares of United Technologies during the first quarter valued at approximately $131,000. Taylor Hoffman Wealth Management bought a new position in shares of United Technologies during the fourth quarter valued at approximately $140,000. Finally, Trustcore Financial Services LLC bought a new position in shares of United Technologies during the fourth quarter valued at approximately $143,000. 81.57% of the stock is currently owned by institutional investors.
About United Technologies
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.