United Technologies Co. (NYSE:UTX) Given Average Recommendation of “Buy” by Brokerages
Shares of United Technologies Co. (NYSE:UTX) have earned an average recommendation of “Buy” from the eighteen analysts that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $152.21.
Several research firms have weighed in on UTX. Barclays upped their price objective on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their price objective on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Cowen upgraded shares of United Technologies from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $135.00 to $150.00 in a research note on Monday, June 24th. William Blair reiterated a “hold” rating on shares of United Technologies in a research note on Monday, June 10th. Finally, Bank of America reiterated a “buy” rating and issued a $195.00 price objective (up previously from $185.00) on shares of United Technologies in a research note on Thursday, July 25th.
Shares of NYSE:UTX traded up $1.31 during mid-day trading on Tuesday, hitting $125.05. The stock had a trading volume of 2,507,500 shares, compared to its average volume of 3,334,106. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05. The company has a market cap of $106.77 billion, a PE ratio of 16.43, a P/E/G ratio of 1.75 and a beta of 1.20. United Technologies has a 12-month low of $100.48 and a 12-month high of $144.40. The company’s 50 day moving average is $131.64 and its 200-day moving average is $130.30.
The firm also recently declared 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. The ex-dividend date is Thursday, August 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.35%. United Technologies’s dividend payout ratio (DPR) is 38.63%.
In other news, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $135.71, for a total transaction of $583,281.58. Following the transaction, the executive vice president now owns 30,847 shares in the company, valued at approximately $4,186,246.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael R. Dumais sold 4,329 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $130.98, for a total transaction of $567,012.42. Following the transaction, the executive vice president now owns 39,265 shares in the company, valued at approximately $5,142,929.70. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in UTX. Norges Bank acquired a new position in shares of United Technologies during the 4th quarter worth $824,350,000. Nuveen Asset Management LLC increased its stake in shares of United Technologies by 1,510.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock worth $433,442,000 after purchasing an additional 3,122,355 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of United Technologies by 170.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock worth $511,966,000 after purchasing an additional 2,503,654 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of United Technologies by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock worth $1,055,120,000 after buying an additional 1,293,517 shares during the period. Finally, Balyasny Asset Management LLC boosted its holdings in shares of United Technologies by 159.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,883,732 shares of the conglomerate’s stock worth $245,262,000 after buying an additional 1,157,940 shares during the period. Institutional investors own 81.03% of the company’s stock.
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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