United Technologies Corporation (UTX) Downgraded by Zacks Investment Research to Hold

United Technologies Corporation (NYSE:UTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “United Technologies outperformed the Zacks categorized Diversified Operations industry in the last three months. Management also reaffirmed its guidance for 2017 on favorable growth dynamics. The business mix and diversification allows the company to deliver consistent earnings and dividend growth. The company is focused on revamping its aerospace unit to overhaul the organizational structure and accelerate inorganic growth through potential acquisition opportunities. However, United Technologies is exposed to market price volatility and availability risks related to raw materials, which hamper its ability to meet delivery schedules and increase operating costs. With over 8,000 employees, the company also has a considerable presence in the U.K. Consequently, the company is susceptible to high operating risks following the Brexit referendum.”

UTX has been the subject of a number of other research reports. Vetr downgraded shares of United Technologies Corporation from a “hold” rating to a “sell” rating and set a $108.06 price target for the company. in a report on Monday, March 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $132.00 price target (up previously from $126.00) on shares of United Technologies Corporation in a report on Thursday, April 27th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $125.00 price target on shares of United Technologies Corporation in a report on Friday, June 2nd. Deutsche Bank AG increased their price target on shares of United Technologies Corporation from $115.00 to $120.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, HSBC Holdings plc assumed coverage on shares of United Technologies Corporation in a report on Monday, June 12th. They issued a “hold” rating and a $125.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $120.13.

Analyst Recommendations for United Technologies Corporation (NYSE:UTX)

Shares of United Technologies Corporation (NYSE UTX) traded up 0.43% during midday trading on Tuesday, reaching $122.38. The company’s stock had a trading volume of 886,746 shares. The company’s 50-day moving average price is $120.85 and its 200-day moving average price is $114.01. The company has a market cap of $98.05 billion, a PE ratio of 19.06 and a beta of 1.06. United Technologies Corporation has a 12 month low of $96.89 and a 12 month high of $122.85.

United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Wednesday, April 26th. The conglomerate reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.09. United Technologies Corporation had a net margin of 9.10% and a return on equity of 18.10%. The firm had revenue of $13.82 billion during the quarter, compared to the consensus estimate of $13.50 billion. During the same quarter last year, the firm earned $1.47 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that United Technologies Corporation will post $6.58 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.30%. United Technologies Corporation’s dividend payout ratio (DPR) is 41.19%.

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In other news, insider Philippe Delpech sold 7,696 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total transaction of $925,982.72. Following the transaction, the insider now directly owns 63,621 shares of the company’s stock, valued at $7,654,878.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 2,702 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total transaction of $322,970.06. Following the transaction, the vice president now directly owns 5,000 shares in the company, valued at $597,650. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Several institutional investors have recently modified their holdings of UTX. Alexandria Capital LLC raised its position in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after buying an additional 4 shares during the period. TCI Wealth Advisors Inc. raised its position in shares of United Technologies Corporation by 0.3% in the first quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock worth $281,000 after buying an additional 7 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in shares of United Technologies Corporation by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 1,780 shares of the conglomerate’s stock worth $200,000 after buying an additional 9 shares during the period. First Command Financial Services Inc. raised its position in shares of United Technologies Corporation by 0.3% in the first quarter. First Command Financial Services Inc. now owns 3,573 shares of the conglomerate’s stock worth $401,000 after buying an additional 11 shares during the period. Finally, Kissinger Financial Services LLC raised its position in shares of United Technologies Corporation by 0.6% in the first quarter. Kissinger Financial Services LLC now owns 2,084 shares of the conglomerate’s stock worth $234,000 after buying an additional 12 shares during the period. 80.37% of the stock is currently owned by institutional investors and hedge funds.

United Technologies Corporation 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. Otis operates as an elevator and escalator manufacturing, installation and service company.

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