United Technologies (UTX) Stock Rating Upgraded by ValuEngine

United Technologies (NYSE:UTX) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Royal Bank of Canada dropped their price objective on United Technologies to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Robert W. Baird boosted their price objective on United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, September 20th. Finally, UBS Group began coverage on United Technologies in a research note on Wednesday, August 15th. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $151.90.

Shares of NYSE UTX traded up $3.33 during trading on Friday, reaching $129.04. The company had a trading volume of 9,726,113 shares, compared to its average volume of 4,317,399. United Technologies has a 12 month low of $115.40 and a 12 month high of $144.15. The firm has a market capitalization of $100.69 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16.10 billion. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 EPS. As a group, analysts forecast that United Technologies will post 7.26 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. BTR Capital Management Inc. raised its stake in United Technologies by 0.4% during the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock worth $11,516,000 after buying an additional 375 shares during the period. Squar Milner Financial Services LLC increased its holdings in United Technologies by 13.5% during the 2nd quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock worth $418,000 after purchasing an additional 397 shares in the last quarter. Ascension Asset Management LLC increased its holdings in United Technologies by 2.6% during the 2nd quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock worth $1,972,000 after purchasing an additional 400 shares in the last quarter. Elmwood Wealth Management Inc. increased its holdings in United Technologies by 5.4% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock worth $1,085,000 after purchasing an additional 400 shares in the last quarter. Finally, Howe & Rusling Inc. increased its holdings in United Technologies by 13.3% during the 3rd quarter. Howe & Rusling Inc. now owns 3,400 shares of the conglomerate’s stock worth $475,000 after purchasing an additional 400 shares in the last quarter. 82.16% of the stock is currently owned by institutional investors and hedge funds.

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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