United Technologies (NYSE:UTX) PT Raised to $154.00 at Sanford C. Bernstein

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United Technologies (NYSE:UTX) had its price target hoisted by equities research analysts at Sanford C. Bernstein from $143.00 to $154.00 in a report released on Tuesday, The Fly reports. The firm presently has a “market perform” rating on the conglomerate’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 11.87% from the company’s current price.

Several other research analysts also recently commented on the company. Cowen reiterated a “buy” rating and set a $150.00 target price on shares of United Technologies in a research note on Wednesday, September 4th. Bank of America reiterated a “buy” rating and set a $195.00 target price (up from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Zacks Investment Research downgraded United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price for the company. in a research note on Friday, July 19th. William Blair reiterated a “hold” rating on shares of United Technologies in a research note on Tuesday, September 3rd. Finally, Seaport Global Securities upgraded United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price for the company in a research note on Monday, June 10th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $152.33.

NYSE:UTX opened at $137.66 on Tuesday. The firm has a market capitalization of $119.13 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21. United Technologies has a twelve month low of $100.48 and a twelve month high of $144.40. The stock’s 50 day moving average price is $130.31 and its two-hundred day moving average price is $131.22. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The firm had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. During the same quarter in the previous year, the firm earned $1.97 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, analysts anticipate that United Technologies will post 8.03 earnings per share for the current year.

In related news, EVP Elizabeth B. Amato sold 4,298 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $135.71, for a total value of $583,281.58. Following the completion of the sale, the executive vice president now directly owns 30,847 shares in the company, valued at approximately $4,186,246.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 831 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $135.09, for a total value of $112,259.79. Following the completion of the sale, the vice president now owns 2,000 shares of the company’s stock, valued at $270,180. The disclosure for this sale can be found here. Insiders sold a total of 103,123 shares of company stock valued at $13,787,015 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UTX. Nuveen Asset Management LLC boosted its stake in United Technologies by 1,510.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock valued at $433,442,000 after purchasing an additional 3,122,355 shares during the period. Clearbridge Investments LLC boosted its stake in United Technologies by 170.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock valued at $511,966,000 after purchasing an additional 2,503,654 shares during the period. Balyasny Asset Management LLC boosted its stake in United Technologies by 159.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,883,732 shares of the conglomerate’s stock valued at $245,262,000 after purchasing an additional 1,157,940 shares during the period. Thoroughbred Financial Services LLC boosted its stake in United Technologies by 13,200.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,096,914 shares of the conglomerate’s stock valued at $109,691,000 after purchasing an additional 1,088,667 shares during the period. Finally, Ellis Investment Partners LLC boosted its stake in United Technologies by 12,791.8% in the 1st quarter. Ellis Investment Partners LLC now owns 942,390 shares of the conglomerate’s stock valued at $942,000 after purchasing an additional 935,080 shares during the period. Institutional investors and hedge funds own 80.67% of the company’s stock.

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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