Sanford C. Bernstein Boosts United Technologies (NYSE:UTX) Price Target to $154.00

United Technologies (NYSE:UTX) had its target price raised by Sanford C. Bernstein from $143.00 to $154.00 in a report published on Tuesday morning, The Fly reports. Sanford C. Bernstein currently has a market perform rating on the conglomerate’s stock.

Other analysts also recently issued reports about the company. Bank of America restated a buy rating and issued a $195.00 target price (up from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. William Blair restated a hold rating on shares of United Technologies in a research note on Tuesday, September 3rd. Barclays raised their target price on United Technologies from $149.00 to $153.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Zacks Investment Research downgraded United Technologies from a strong-buy rating to a hold rating and set a $151.00 target price for the company. in a research note on Friday, July 19th. Finally, Cowen restated a buy rating and issued a $150.00 target price on shares of United Technologies in a research note on Wednesday, September 4th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. United Technologies presently has a consensus rating of Buy and an average price target of $152.33.

Shares of United Technologies stock opened at $137.53 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $130.37 and a two-hundred day moving average price of $131.28. United Technologies has a 1-year low of $100.48 and a 1-year high of $144.40. The company has a market cap of $119.15 billion, a P/E ratio of 18.07, a PEG ratio of 1.95 and a beta of 1.21.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.16. The company had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the business posted $1.97 EPS. Equities research analysts forecast that United Technologies will post 8.03 EPS for the current fiscal year.

In related news, CEO Gregory Hayes sold 19,542 shares of the firm’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 transaction, the chief executive officer now owns 246,111 shares of the company’s stock, valued at approximately $32,818,901.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $135.71, for a total transaction of $583,281.58. Following the completion of the transaction, the executive vice president now directly owns 30,847 shares in the company, valued at approximately $4,186,246.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,123 shares of company stock worth $13,787,015. 0.15% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in UTX. Nuveen Asset Management LLC lifted its position in United Technologies by 1,510.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock valued at $433,442,000 after acquiring an additional 3,122,355 shares in the last quarter. Clearbridge Investments LLC lifted its position in United Technologies by 170.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock valued at $511,966,000 after acquiring an additional 2,503,654 shares in the last quarter. Balyasny Asset Management LLC lifted its position in United Technologies by 159.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,883,732 shares of the conglomerate’s stock valued at $245,262,000 after acquiring an additional 1,157,940 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in United Technologies by 13,200.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,096,914 shares of the conglomerate’s stock valued at $109,691,000 after acquiring an additional 1,088,667 shares in the last quarter. Finally, Ellis Investment Partners LLC lifted its position in United Technologies by 12,791.8% in the 1st quarter. Ellis Investment Partners LLC now owns 942,390 shares of the conglomerate’s stock valued at $942,000 after acquiring an additional 935,080 shares in the last quarter. 80.67% 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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