The United Technologies Corporation (UTX) Given New $124.00 Price Target at Stifel Nicolaus

The United Technologies Corporation (UTX) Given New $124.00 Price Target at Stifel Nicolaus

United Technologies Corporation (NYSE:UTX) had its price objective raised by Stifel Nicolaus from $122.00 to $124.00 in a research note published on Wednesday morning. Stifel Nicolaus currently has a hold rating on the conglomerate’s stock.

A number of other analysts have also recently commented on UTX. BidaskClub upgraded United Technologies Corporation from a hold rating to a buy rating in a research report on Friday, June 30th. Royal Bank Of Canada restated a hold rating and issued a $125.00 price objective on shares of United Technologies Corporation in a research report on Friday, July 7th. UBS Group AG boosted their price target on United Technologies Corporation to $135.00 and gave the stock a buy rating in a research report on Monday, July 10th. Morgan Stanley reiterated an overweight rating and set a $138.00 price target (up from $132.00) on shares of United Technologies Corporation in a research report on Monday, July 10th. Finally, Zacks Investment Research cut United Technologies Corporation from a buy rating to a hold rating in a research report on Thursday, July 13th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $125.15.

Shares of United Technologies Corporation (UTX) traded up 0.761% during midday trading on Wednesday, reaching $119.895. 1,811,291 shares of the company’s stock were exchanged. The stock has a market cap of $95.77 billion, a P/E ratio of 18.263 and a beta of 1.05. United Technologies Corporation has a one year low of $99.99 and a one year high of $124.79. The company’s 50-day moving average is $115.90 and its 200-day moving average is $118.57.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 earnings per share. Equities analysts expect that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s payout ratio is currently 42.68%.

Institutional investors have recently made changes to their positions in the company. PGGM Investments lifted its stake in shares of United Technologies Corporation by 52.4% in the 2nd quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock valued at $91,486,000 after purchasing an additional 257,582 shares during the last quarter. Connecticut Wealth Management LLC lifted its stake in shares of United Technologies Corporation by 10.1% in the 2nd quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock valued at $1,473,000 after purchasing an additional 1,098 shares during the last quarter. Huntington National Bank lifted its stake in shares of United Technologies Corporation by 3.7% in the 2nd quarter. Huntington National Bank now owns 284,531 shares of the conglomerate’s stock valued at $34,744,000 after purchasing an additional 10,025 shares during the last quarter. Pioneer Investment Management Inc. lifted its stake in shares of United Technologies Corporation by 2.1% in the 1st quarter. Pioneer Investment Management Inc. now owns 1,223,811 shares of the conglomerate’s stock valued at $137,324,000 after purchasing an additional 25,625 shares during the last quarter. Finally, Private Wealth Advisors Inc. lifted its stake in shares of United Technologies Corporation by 14.9% in the 1st quarter. Private Wealth Advisors Inc. now owns 23,551 shares of the conglomerate’s stock valued at $2,643,000 after purchasing an additional 3,051 shares during the last quarter. 78.82% of the stock is currently owned by institutional investors and hedge funds.

About United Technologies Corporation

United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.

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