Cowen upgraded shares of United Technologies (NYSE:UTX) from a market perform rating to an outperform rating in a research note released on Monday, AnalystRatings.com reports. Cowen currently has $150.00 price objective on the conglomerate’s stock, up from their prior price objective of $135.00.
Several other analysts have also issued reports on UTX. Zacks Investment Research upgraded United Technologies from a hold rating to a buy rating and set a $141.00 target price on the stock in a research note on Wednesday, March 27th. Royal Bank of Canada restated a sector perform rating and issued a $159.00 target price on shares of United Technologies in a research note on Wednesday, April 24th. Morgan Stanley boosted their target price on United Technologies from $155.00 to $164.00 and gave the company an overweight rating in a research note on Monday, May 20th. William Blair restated a hold rating on shares of United Technologies in a research note on Monday, June 10th. Finally, Vertical Research upgraded United Technologies from a hold rating to a buy rating and set a $145.00 target price on the stock in a research note on Friday, June 14th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $150.50.
Shares of United Technologies stock opened at $127.76 on Monday. The stock’s fifty day simple moving average is $130.47. The company has a market capitalization of $111.34 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.86 and a beta of 1.26. United Technologies has a 12 month low of $100.48 and a 12 month high of $144.40. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.98.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.20. The business had revenue of $18.37 billion for the quarter, compared to analyst estimates of $18.01 billion. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. United Technologies’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted $1.77 earnings per share. On average, research analysts anticipate that United Technologies will post 7.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.30%. United Technologies’s payout ratio is 38.63%.
Large investors have recently added to or reduced their stakes in the stock. Headinvest LLC raised its stake in shares of United Technologies by 264.6% during the 4th quarter. Headinvest LLC now owns 48,202 shares of the conglomerate’s stock valued at $5,133,000 after purchasing an additional 34,980 shares during the period. J.P. Marvel Investment Advisors LLC raised its stake in shares of United Technologies by 5.3% during the 1st quarter. J.P. Marvel Investment Advisors LLC now owns 36,223 shares of the conglomerate’s stock valued at $4,669,000 after purchasing an additional 1,810 shares during the period. Ingalls & Snyder LLC raised its stake in shares of United Technologies by 4.2% during the 1st quarter. Ingalls & Snyder LLC now owns 113,027 shares of the conglomerate’s stock valued at $14,568,000 after purchasing an additional 4,504 shares during the period. Semmax Financial Advisors Inc. bought a new stake in shares of United Technologies during the 4th quarter valued at $70,000. Finally, Drexel Morgan & Co. raised its stake in shares of United Technologies by 4.1% during the 4th quarter. Drexel Morgan & Co. now owns 12,530 shares of the conglomerate’s stock valued at $1,334,000 after purchasing an additional 491 shares during the period. 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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