Latest Stocks: United Technologies Co. (UTX) Rating Reiterated by Royal Bank of Canada

Latest Stocks: United Technologies Co. (UTX) Rating Reiterated by Royal Bank of Canada

United Technologies Co. (NYSE:UTX)‘s stock had its “hold” rating restated by research analysts at Royal Bank of Canada in a report issued on Friday. They currently have a $125.00 price target on the conglomerate’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 3.32% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Group LLC restated a “buy” rating on shares of United Technologies in a research note on Wednesday, May 31st. Vetr upgraded United Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Morgan Stanley upped their price objective on United Technologies from $120.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. Finally, Deutsche Bank AG upped their price objective on United Technologies from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. United Technologies presently has an average rating of “Hold” and a consensus target price of $119.94.

Shares of United Technologies (NYSE UTX) opened at 120.98 on Friday. The firm has a market cap of $96.93 billion, a price-to-earnings ratio of 18.84 and a beta of 1.09. The stock’s 50 day moving average price is $119.55 and its 200 day moving average price is $113.12. United Technologies has a 12 month low of $96.89 and a 12 month high of $122.85.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. United Technologies had a return on equity of 18.13% and a net margin of 8.83%. The firm had revenue of $13.82 billion for the quarter, compared to analysts’ expectations of $13.50 billion. During the same quarter in the prior year, the firm posted $1.47 earnings per share. United Technologies’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts predict that United Technologies will post $6.58 earnings per share for the current fiscal year. The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Friday, May 19th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, May 17th. United Technologies’s dividend payout ratio is currently 43.21%.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. United Technologies had a return on equity of 18.13% and a net margin of 8.83%. The firm had revenue of $13.82 billion for the quarter, compared to analysts’ expectations of $13.50 billion. During the same quarter in the prior year, the firm posted $1.47 earnings per share. United Technologies’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts predict that United Technologies will post $6.58 earnings per share for the current fiscal year. In related news, VP Robert J. Bailey sold 2,702 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total value of $322,970.06. Following the sale, the vice president now directly owns 5,000 shares in the company, valued at approximately $597,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Philippe Delpech sold 7,696 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total value of $925,982.72. Following the completion of the sale, the insider now owns 63,621 shares in the company, valued at $7,654,878.72. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of UTX. Balentine LLC boosted its stake in United Technologies by 7.6% in the first quarter. Balentine LLC now owns 930 shares of the conglomerate’s stock valued at $104,000 after buying an additional 66 shares in the last quarter. JNBA Financial Advisors boosted its stake in United Technologies by 4.9% in the first quarter. JNBA Financial Advisors now owns 991 shares of the conglomerate’s stock valued at $111,000 after buying an additional 46 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in United Technologies by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares in the last quarter. Winfield Associates Inc. boosted its stake in United Technologies by 9.2% in the first quarter. Winfield Associates Inc. now owns 1,000 shares of the conglomerate’s stock valued at $112,000 after buying an additional 84 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in United Technologies by 2.7% in the fourth quarter. Tortoise Investment Management LLC now owns 1,031 shares of the conglomerate’s stock valued at $113,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 79.89% of the company’s stock. United Technologies Company Profile

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