United Technologies (NYSE:UTX) Rating Grow to Purchase at ValuEngine

United Technologies (NYSE:UTX) Rating Grow to Purchase at ValuEngine

United Technologies (NYSE:UTX) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, September 14th.

A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. UBS Group initiated coverage on shares of United Technologies in a research note on Wednesday, August 15th. They set a “buy” rating on the stock. Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, July 10th. Morgan Stanley assumed coverage on shares of United Technologies in a research note on Friday, June 15th. They set an “overweight” rating and a $160.00 price objective on the stock. Finally, Wolfe Research assumed coverage on shares of United Technologies in a research note on Wednesday, June 27th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. United Technologies currently has an average rating of “Buy” and a consensus target price of $150.30.

Shares of UTX traded down $3.71 during mid-day trading on Friday, hitting $135.88. The company had a trading volume of 4,768,400 shares, compared to its average volume of 4,182,381. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46. United Technologies has a 1-year low of $115.40 and a 1-year high of $144.15. The stock has a market capitalization of $111.86 billion, a PE ratio of 20.64, a P/E/G ratio of 2.12 and a beta of 0.98.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The firm had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. During the same quarter last year, the firm posted $1.85 earnings per share. United Technologies’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts expect that United Technologies will post 7.23 earnings per share for the current fiscal year.

In related news, VP Charles D. Gill sold 14,255 shares of United Technologies stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the sale, the vice president now directly owns 55,029 shares in the company, valued at $7,507,606.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akhil Johri sold 3,428 shares of United Technologies stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $135.82, for a total transaction of $465,590.96. Following the sale, the chief financial officer now owns 43,403 shares in the company, valued at $5,894,995.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,511 shares of company stock valued at $2,521,974. 0.17% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Keeler Thomas Management LLC raised its position in United Technologies by 5.8% in the first quarter. Keeler Thomas Management LLC now owns 7,895 shares of the conglomerate’s stock worth $993,000 after acquiring an additional 435 shares in the last quarter. ETRADE Capital Management LLC raised its holdings in United Technologies by 56.4% during the 1st quarter. ETRADE Capital Management LLC now owns 7,914 shares of the conglomerate’s stock worth $996,000 after buying an additional 2,853 shares during the period. Associated Banc Corp raised its holdings in United Technologies by 0.9% during the 1st quarter. Associated Banc Corp now owns 63,693 shares of the conglomerate’s stock worth $8,014,000 after buying an additional 570 shares during the period. Hyman Charles D raised its holdings in United Technologies by 4.4% during the 1st quarter. Hyman Charles D now owns 137,307 shares of the conglomerate’s stock worth $17,276,000 after buying an additional 5,800 shares during the period. Finally, Westbourne Investment Advisors Inc. raised its holdings in United Technologies by 27.4% during the 1st quarter. Westbourne Investment Advisors Inc. now owns 9,595 shares of the conglomerate’s stock worth $1,207,000 after buying an additional 2,065 shares during the period. Institutional investors and hedge funds own 81.68% 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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