United Technologies Corporation (UTX) Receives “Hold” Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their hold rating on shares of United Technologies Corporation (NYSE:UTX) in a research report sent to investors on Tuesday. The brokerage currently has a $126.00 price target on the conglomerate’s stock.

A number of other research analysts also recently issued reports on the company. Deutsche Bank AG decreased their price target on United Technologies Corporation from $125.00 to $120.00 and set a hold rating for the company in a report on Wednesday, September 6th. Bank of America Corporation reissued a buy rating and issued a $140.00 price target on shares of United Technologies Corporation in a report on Wednesday, September 6th. Cowen and Company downgraded United Technologies Corporation from an outperform rating to a market perform rating and decreased their price target for the company from $127.00 to $120.00 in a report on Wednesday, September 6th. Vertical Research downgraded United Technologies Corporation from a buy rating to a hold rating and set a $125.00 price target for the company. in a report on Tuesday, September 5th. Finally, Credit Suisse Group reissued a neutral rating on shares of United Technologies Corporation in a report on Friday, September 1st. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $125.27.

Shares of United Technologies Corporation (NYSE:UTX) opened at 118.12 on Tuesday. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The stock has a market capitalization of $94.35 billion, a price-to-earnings ratio of 17.99 and a beta of 1.05. The company has a 50-day moving average of $115.00 and a 200 day moving average of $118.06.

United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the company posted $1.82 earnings per share. United Technologies Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts predict that United Technologies Corporation will post $6.57 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of UTX. Waldron LP increased its position in shares of United Technologies Corporation by 62.0% in the first quarter. Waldron LP now owns 6,270 shares of the conglomerate’s stock valued at $703,000 after buying an additional 2,400 shares in the last quarter. Ramsay Stattman Vela & Price Inc. increased its position in shares of United Technologies Corporation by 1.9% in the first quarter. Ramsay Stattman Vela & Price Inc. now owns 59,237 shares of the conglomerate’s stock valued at $6,647,000 after buying an additional 1,107 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in shares of United Technologies Corporation by 3.5% in the first quarter. Clear Harbor Asset Management LLC now owns 3,986 shares of the conglomerate’s stock valued at $447,000 after buying an additional 136 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of United Technologies Corporation by 2.6% in the first quarter. Janney Montgomery Scott LLC now owns 170,687 shares of the conglomerate’s stock valued at $19,153,000 after buying an additional 4,306 shares in the last quarter. Finally, K.J. Harrison & Partners Inc increased its position in shares of United Technologies Corporation by 2.2% in the first quarter. K.J. Harrison & Partners Inc now owns 30,892 shares of the conglomerate’s stock valued at $3,466,000 after buying an additional 657 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.

United Technologies Corporation Company Profile

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.

Analyst Recommendations for United Technologies Corporation (NYSE:UTX)

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