United Technologies (UTX) Upgraded to Buy at Argus

Argus upgraded shares of United Technologies (NYSE:UTX) from a hold rating to a buy rating in a report published on Friday, MarketBeat.com reports.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised United Technologies from a hold rating to a buy rating and set a $151.00 price target on the stock in a research note on Saturday, January 20th. Goldman Sachs Group raised United Technologies from a neutral rating to a buy rating in a research note on Monday, January 8th. UBS Group initiated coverage on United Technologies in a research note on Tuesday, January 23rd. They set a buy rating and a $158.00 price target on the stock. ValuEngine raised United Technologies from a hold rating to a buy rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada set a $126.00 price target on United Technologies and gave the stock a hold rating in a research note on Sunday, November 12th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $136.15.

United Technologies (NYSE:UTX) opened at $125.03 on Friday. United Technologies has a 52 week low of $107.05 and a 52 week high of $139.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35. The firm has a market capitalization of $99,850.00, a P/E ratio of 21.94, a P/E/G ratio of 2.12 and a beta of 1.08.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the prior year, the business earned $1.56 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. analysts anticipate that United Technologies will post 7.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 16th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 49.12%.

In other news, VP Robert J. Bailey sold 636 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $124.35, for a total value of $79,086.60. Following the completion of the sale, the vice president now directly owns 1,500 shares of the company’s stock, valued at $186,525. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 827 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,480 shares of company stock valued at $1,658,028. Company insiders own 0.16% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Knowledge Leaders Capital LLC bought a new position in shares of United Technologies in the third quarter valued at approximately $105,000. Tortoise Investment Management LLC grew its holdings in shares of United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 48 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of United Technologies in the third quarter valued at approximately $118,000. Seven Bridges Advisors LLC bought a new position in shares of United Technologies in the second quarter valued at approximately $120,000. Finally, Thompson Davis & CO. Inc. grew its holdings in shares of United Technologies by 750.4% in the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after acquiring an additional 953 shares in the last quarter. 80.01% of the stock is owned by institutional investors.

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About United Technologies

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.

Analyst Recommendations for United Technologies (NYSE:UTX)

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