United Technologies (UTX) Stock Rating Upgraded by Goldman Sachs Group

United Technologies (NYSE:UTX) was upgraded by Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat reports.

Other analysts have also recently issued reports about the stock. Cowen reiterated a “hold” rating and issued a $120.00 target price on shares of United Technologies in a research note on Friday, November 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $126.00 target price on shares of United Technologies in a research note on Tuesday, October 10th. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Zacks Investment Research cut shares of United Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Stifel Nicolaus lifted their target price on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $125.63.

Shares of United Technologies (NYSE:UTX) opened at $134.27 on Monday. United Technologies has a 1-year low of $106.85 and a 1-year high of $135.79. The firm has a market cap of $107,220.00, a PE ratio of 20.78, a PEG ratio of 2.29 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The business had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same period last year, the business earned $1.76 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. sell-side analysts predict that United Technologies will post 6.61 earnings per share for the current fiscal year.

In other United Technologies news, EVP Elizabeth B. Amato sold 4,341 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $125.92, for a total transaction of $546,618.72. Following the completion of the transaction, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at approximately $3,667,042.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert J. Bailey sold 864 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $126.01, for a total transaction of $108,872.64. Following the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at $252,020. The disclosure for this sale can be found here. Insiders have sold a total of 16,466 shares of company stock valued at $2,019,274 over the last three months. 0.16% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Connecticut Wealth Management LLC increased its holdings in shares of United Technologies by 10.1% during the 2nd quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock valued at $1,473,000 after purchasing an additional 1,098 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of United Technologies by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock valued at $2,281,000 after purchasing an additional 1,447 shares in the last quarter. Delaney Dennis R increased its holdings in United Technologies by 28.4% in the 2nd quarter. Delaney Dennis R now owns 4,855 shares of the conglomerate’s stock worth $593,000 after acquiring an additional 1,075 shares in the last quarter. Stoneridge Investment Partners LLC increased its holdings in United Technologies by 755.1% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock worth $4,051,000 after acquiring an additional 29,298 shares in the last quarter. Finally, Federated Investors Inc. PA increased its holdings in United Technologies by 22.2% in the 2nd quarter. Federated Investors Inc. PA now owns 65,214 shares of the conglomerate’s stock worth $7,963,000 after acquiring an additional 11,851 shares in the last quarter. 80.07% of the stock is owned by hedge funds and other institutional investors.

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United Technologies 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.

Analyst Recommendations for United Technologies (NYSE:UTX)

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