United Technologies (NYSE:UTX) Receives “Hold” Rating from William Blair

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William Blair reissued their hold rating on shares of United Technologies (NYSE:UTX) in a report released on Monday, TipRanks reports.

UTX has been the topic of several other research reports. Seaport Global Securities assumed coverage on United Technologies in a research note on Friday, May 10th. They issued a neutral rating and a $136.86 price objective on the stock. JPMorgan Chase & Co. assumed coverage on United Technologies in a research note on Friday, February 22nd. They issued an overweight rating and a $132.00 price objective on the stock. Royal Bank of Canada reiterated a sector perform rating and issued a $159.00 price objective on shares of United Technologies in a research note on Wednesday, April 24th. Zacks Investment Research downgraded United Technologies from a buy rating to a hold rating in a research report on Tuesday, March 26th. Finally, Barclays increased their target price on United Technologies from $142.00 to $149.00 and gave the stock an overweight rating in a research report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $150.23.

United Technologies stock opened at $124.81 on Monday. United Technologies has a 12 month low of $100.48 and a 12 month high of $144.40. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $106.01 billion, a P/E ratio of 16.40, a PEG ratio of 1.75 and a beta of 1.26.

United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, beating the consensus estimate of $1.71 by $0.20. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. The business had revenue of $18.37 billion for the quarter, compared to the consensus estimate of $18.01 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. United Technologies’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts predict that United Technologies will post 7.97 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a $0.735 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.36%. United Technologies’s payout ratio is currently 38.63%.

Several institutional investors have recently added to or reduced their stakes in the company. MV Capital Management Inc. increased its holdings in shares of United Technologies by 4.2% in the first quarter. MV Capital Management Inc. now owns 1,846 shares of the conglomerate’s stock worth $238,000 after purchasing an additional 75 shares during the period. Riggs Asset Managment Co. Inc. increased its holdings in shares of United Technologies by 7.5% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,074 shares of the conglomerate’s stock worth $138,000 after purchasing an additional 75 shares during the period. Ashfield Capital Partners LLC increased its stake in United Technologies by 0.5% in the first quarter. Ashfield Capital Partners LLC now owns 16,594 shares of the conglomerate’s stock valued at $2,139,000 after acquiring an additional 77 shares during the last quarter. Smith Moore & CO. increased its stake in United Technologies by 1.2% in the first quarter. Smith Moore & CO. now owns 6,454 shares of the conglomerate’s stock valued at $832,000 after acquiring an additional 78 shares during the last quarter. Finally, Point View Wealth Management Inc. increased its stake in United Technologies by 2.4% in the fourth quarter. Point View Wealth Management Inc. now owns 3,600 shares of the conglomerate’s stock valued at $383,000 after acquiring an additional 85 shares during the last quarter. 80.67% of the stock is currently owned by hedge funds and other institutional investors.

United Technologies Company Profile

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.

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Analyst Recommendations for United Technologies (NYSE:UTX)

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