United Technologies (NYSE:UTX) had its price target boosted by Barclays from $149.00 to $153.00 in a research report report published on Wednesday morning, 24/7 WallStreet reports. They currently have an overweight rating on the conglomerate’s stock.
Several other brokerages have also issued reports on UTX. Royal Bank of Canada set a GBX 5,200 ($67.95) price objective on London Stock Exchange Group and gave the company a buy rating in a research report on Wednesday, April 24th. Vertical Research upgraded United Technologies from a hold rating to a buy rating and set a $145.00 price objective for the company in a research report on Friday, June 14th. Cowen reiterated a hold rating and issued a $13.00 price objective on shares of AMAG Pharmaceuticals in a research report on Monday, June 24th. Zacks Investment Research upgraded Hallmark Financial Services from a hold rating to a buy rating and set a $16.00 price objective for the company in a research report on Friday, July 19th. Finally, William Blair reiterated a hold rating on shares of United Technologies in a research report on Monday, June 10th. Five research 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 stock. The stock currently has an average rating of Buy and an average target price of $152.21.
Shares of United Technologies stock traded up $3.65 during trading on Wednesday, hitting $137.90. 1,636,340 shares of the company were exchanged, compared to its average volume of 3,172,020. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.79. The stock has a fifty day moving average price of $130.29. United Technologies has a 1-year low of $100.48 and a 1-year high of $144.40. The company has a market capitalization of $117.30 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.92 and a beta of 1.22.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $19.63 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same period in the previous year, the firm earned $1.97 EPS. United Technologies’s quarterly revenue was up 17.5% compared to the same quarter last year. Sell-side analysts predict that United Technologies will post 7.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio is currently 38.63%.
Several institutional investors have recently made changes to their positions in the company. First Merchants Corp raised its stake in shares of United Technologies by 11.5% during the 2nd quarter. First Merchants Corp now owns 68,239 shares of the conglomerate’s stock worth $8,885,000 after purchasing an additional 7,022 shares in the last quarter. Strs Ohio raised its stake in shares of United Technologies by 35.8% during the 2nd quarter. Strs Ohio now owns 547,238 shares of the conglomerate’s stock worth $71,250,000 after purchasing an additional 144,171 shares in the last quarter. Trustcore Financial Services LLC raised its stake in shares of United Technologies by 108.6% during the 2nd quarter. Trustcore Financial Services LLC now owns 2,438 shares of the conglomerate’s stock worth $317,000 after purchasing an additional 1,269 shares in the last quarter. Hartford Investment Management Co. raised its stake in shares of United Technologies by 0.5% during the 2nd quarter. Hartford Investment Management Co. now owns 140,847 shares of the conglomerate’s stock worth $18,338,000 after purchasing an additional 752 shares in the last quarter. Finally, Royal Bank of Scotland Group PLC raised its stake in shares of United Technologies by 63.0% during the 2nd quarter. Royal Bank of Scotland Group PLC now owns 7,333 shares of the conglomerate’s stock worth $954,000 after purchasing an additional 2,833 shares in the last quarter. Institutional investors own 80.61% of the company’s stock.
About United Technologies
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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