Royal Bank Of Canada set a $126.00 target price on United Technologies Corporation (NYSE:UTX) in a report published on Sunday morning. The brokerage currently has a hold rating on the conglomerate’s stock.
A number of other equities analysts also recently commented on UTX. Zacks Investment Research upgraded United Technologies Corporation from a sell rating to a hold rating in a research report on Thursday, October 26th. Jefferies Group LLC reiterated a buy rating on shares of United Technologies Corporation in a research report on Thursday, July 27th. Cowen and Company reiterated a buy rating and set a $127.00 price objective on shares of United Technologies Corporation in a research report on Tuesday, September 5th. Credit Suisse Group reiterated a neutral rating on shares of United Technologies Corporation in a research report on Friday, September 1st. Finally, BidaskClub downgraded United Technologies Corporation from a hold rating to a sell rating in a research report on Tuesday, August 1st. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $125.15.
Shares of United Technologies Corporation (NYSE:UTX) opened at $118.80 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91. The stock has a market capitalization of $95,000.00, a P/E ratio of 17.84, a PEG ratio of 2.13 and a beta of 1.07. United Technologies Corporation has a 12 month low of $106.21 and a 12 month high of $124.79.
United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.05. The firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 earnings per share. research analysts predict that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.36%. United Technologies Corporation’s dividend payout ratio is presently 43.34%.
In related news, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the sale, the executive vice president now owns 27,548 shares in the company, valued at approximately $3,332,757.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. raised its holdings in shares of United Technologies Corporation by 57.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,066,269 shares of the conglomerate’s stock valued at $123,773,000 after buying an additional 388,725 shares during the period. Foyston Gordon & Payne Inc raised its holdings in shares of United Technologies Corporation by 35.9% in the 3rd quarter. Foyston Gordon & Payne Inc now owns 168,388 shares of the conglomerate’s stock valued at $19,546,000 after buying an additional 44,502 shares during the period. Laurel Wealth Advisors Inc. raised its holdings in shares of United Technologies Corporation by 21.1% in the 3rd quarter. Laurel Wealth Advisors Inc. now owns 7,197 shares of the conglomerate’s stock valued at $835,000 after buying an additional 1,254 shares during the period. Birch Hill Investment Advisors LLC raised its holdings in shares of United Technologies Corporation by 0.8% in the 3rd quarter. Birch Hill Investment Advisors LLC now owns 149,495 shares of the conglomerate’s stock valued at $17,353,000 after buying an additional 1,125 shares during the period. Finally, Madison Investment Holdings Inc. raised its holdings in shares of United Technologies Corporation by 21.3% in the 3rd quarter. Madison Investment Holdings Inc. now owns 215,802 shares of the conglomerate’s stock valued at $25,050,000 after buying an additional 37,853 shares during the period. Hedge funds and other institutional investors own 78.80% of the company’s stock.
About United Technologies Corporation
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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