United Technologies Corp. (NYSE:UTX)‘s stock had its “neutral” rating restated by investment analysts at JPMorgan Chase & Co. in a research note issued on Monday.
A number of other equities research analysts have also recently commented on the company. Jefferies Group reissued a “buy” rating on shares of United Technologies Corp. in a research note on Tuesday, July 5th. Barclays PLC increased their target price on United Technologies Corp. from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 27th. Stifel Nicolaus reissued a “hold” rating on shares of United Technologies Corp. in a research note on Sunday, July 31st. Zacks Investment Research raised United Technologies Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Bank of America Corp. reissued a “buy” rating and issued a $130.00 target price (up from $115.00) on shares of United Technologies Corp. in a research note on Wednesday, July 27th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $110.36.
Shares of United Technologies Corp. (NYSE:UTX) opened at 102.56 on Monday. The stock has a market cap of $85.84 billion, a price-to-earnings ratio of 12.10 and a beta of 1.06. United Technologies Corp. has a one year low of $83.39 and a one year high of $109.83. The company has a 50-day moving average price of $106.01 and a 200 day moving average price of $102.95.
United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.14. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The company had revenue of $14.90 billion for the quarter, compared to analysts’ expectations of $14.67 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts expect that United Technologies Corp. will post $6.58 earnings per share for the current year.
In related news, insider Robert J. Mcdonough sold 3,100 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $107.11, for a total transaction of $332,041.00. Following the completion of the sale, the insider now owns 11,349 shares in the company, valued at $1,215,591.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles D. Gill sold 7,144 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $108.05, for a total value of $771,909.20. Following the sale, the vice president now owns 55,278 shares of the company’s stock, valued at approximately $5,972,787.90. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC acquired a new stake in United Technologies Corp. during the second quarter valued at about $103,000. Coconut Grove Bank boosted its stake in United Technologies Corp. by 5.8% in the second quarter. Coconut Grove Bank now owns 1,037 shares of the company’s stock valued at $106,000 after buying an additional 57 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in United Technologies Corp. by 6.1% in the second quarter. Tortoise Investment Management LLC now owns 1,065 shares of the company’s stock valued at $109,000 after buying an additional 61 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. boosted its stake in United Technologies Corp. by 181.1% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,071 shares of the company’s stock valued at $110,000 after buying an additional 690 shares in the last quarter. Finally, Orrstown Financial Services Inc. boosted its stake in United Technologies Corp. by 35.6% in the second quarter. Orrstown Financial Services Inc. now owns 1,085 shares of the company’s stock valued at $111,000 after buying an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 80.18% of the company’s stock.
United Technologies Corp. Company Profile
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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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