United Technologies Co. (NYSE:UTX) has received an average recommendation of “Buy” from the seventeen analysts that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $144.00.

A number of research firms recently issued reports on UTX. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a report on Wednesday, March 27th. JPMorgan Chase & Co. began coverage on United Technologies in a report on Friday, February 22nd. They set an “overweight” rating and a $132.00 price objective for the company. Goldman Sachs Group upgraded United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 price objective for the company in a report on Friday, February 1st. Royal Bank of Canada boosted their price objective on United Technologies to $129.00 and gave the company a “sector perform” rating in a report on Thursday, January 24th. Finally, Bank of America reiterated a “buy” rating and issued a $185.00 target price on shares of United Technologies in a report on Thursday, January 24th.

In other United Technologies news, EVP Michael R. Dumais sold 9,620 shares of the company’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $119.12, for a total value of $1,145,934.40. Following the completion of the sale, the executive vice president now directly owns 35,627 shares in the company, valued at approximately $4,243,888.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert J. Bailey sold 862 shares of the company’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $121.71, for a total value of $104,914.02. The disclosure for this sale can be found here. Insiders sold a total of 97,770 shares of company stock valued at $12,153,044 over the last quarter. Company insiders own 0.15% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of UTX. Vanguard Group Inc. increased its position in United Technologies by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 59,240,301 shares of the conglomerate’s stock valued at $8,282,386,000 after buying an additional 1,094,947 shares in the last quarter. Vanguard Group Inc increased its position in United Technologies by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 59,240,301 shares of the conglomerate’s stock valued at $8,282,386,000 after buying an additional 1,094,947 shares in the last quarter. BlackRock Inc. increased its position in United Technologies by 13.3% during the 4th quarter. BlackRock Inc. now owns 54,035,145 shares of the conglomerate’s stock valued at $5,753,662,000 after buying an additional 6,347,718 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in United Technologies by 0.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,219,419 shares of the conglomerate’s stock valued at $1,620,563,000 after buying an additional 61,785 shares in the last quarter. Finally, Morgan Stanley increased its position in United Technologies by 5.5% during the 3rd quarter. Morgan Stanley now owns 12,431,324 shares of the conglomerate’s stock valued at $1,738,025,000 after buying an additional 649,983 shares in the last quarter. Hedge funds and other institutional investors own 80.83% of the company’s stock.

Shares of NYSE UTX traded down $0.75 during trading hours on Wednesday, hitting $134.55. 1,808,655 shares of the company traded hands, compared to its average volume of 4,253,363. The company has a market cap of $116.09 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.91 and a beta of 1.20. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.81 and a current ratio of 1.13. United Technologies has a 12 month low of $100.48 and a 12 month high of $144.15.

United Technologies (NYSE:UTX) last released its earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.42. The firm had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $16.87 billion. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 EPS. As a group, equities analysts predict that United Technologies will post 7.92 EPS for the current year.

United Technologies Company Profile

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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Analyst Recommendations for United Technologies (NYSE:UTX)

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