United Technologies Co. (NYSE:UTX) Receives Consensus Recommendation of “Buy” from Analysts

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United Technologies Co. (NYSE:UTX) has earned a consensus recommendation of “Buy” from the twenty analysts that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $154.69.

Several research analysts have commented on the company. Wolfe Research set a $152.00 target price on United Technologies and gave the stock a “buy” rating in a report on Wednesday, September 18th. Cowen reaffirmed a “buy” rating and set a $150.00 target price on shares of United Technologies in a report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their target price on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Finally, Sanford C. Bernstein lifted their target price on United Technologies from $143.00 to $154.00 and gave the stock a “market perform” rating in a report on Tuesday, September 17th.

UTX traded up $3.10 during midday trading on Friday, hitting $146.68. 4,036,147 shares of the company were exchanged, compared to its average volume of 2,980,400. The firm has a market capitalization of $123.95 billion, a P/E ratio of 19.27, a P/E/G ratio of 2.01 and a beta of 1.22. United Technologies has a 1-year low of $100.48 and a 1-year high of $144.63. The firm’s 50 day moving average price is $137.29 and its 200-day moving average price is $133.23. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.18. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. On average, sell-side analysts predict that United Technologies will post 8.13 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, November 14th. United Technologies’s dividend payout ratio is 38.63%.

In other news, VP Robert J. Bailey sold 831 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $135.09, for a total value of $112,259.79. Following the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $270,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Hayes sold 19,542 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $133.35, for a total value of $2,605,925.70. Following the completion of the transaction, the chief executive officer now directly owns 246,111 shares in the company, valued at $32,818,901.85. The disclosure for this sale can be found here. Insiders sold a total of 120,620 shares of company stock worth $16,317,747 over the last three months. 0.15% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the company. Phocas Financial Corp. bought a new stake in United Technologies during the 2nd quarter worth approximately $25,000. Krane Funds Advisors LLC bought a new stake in United Technologies during the 2nd quarter worth approximately $26,000. Transamerica Financial Advisors Inc. bought a new stake in United Technologies during the 2nd quarter worth approximately $30,000. Quad Cities Investment Group LLC increased its holdings in United Technologies by 62.1% during the 2nd quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Finally, American National Bank bought a new stake in United Technologies during the 3rd quarter worth approximately $34,000. 80.66% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for United Technologies (NYSE:UTX)

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