United Technologies Co. (NYSE:UTX)’s stock price was down 9.9% on Wednesday . The stock traded as low as $106.78 and last traded at $107.51, approximately 10,271,190 shares changed hands during trading. An increase of 99% from the average daily volume of 5,156,556 shares. The stock had previously closed at $119.37.
Several equities analysts have weighed in on UTX shares. Argus restated a “buy” rating and set a $170.00 target price on shares of United Technologies in a report on Wednesday, January 29th. Benchmark started coverage on shares of United Technologies in a report on Friday, January 31st. They set a “buy” rating and a $186.00 target price for the company. UBS Group raised their target price on shares of United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Credit Suisse Group dropped their target price on shares of United Technologies from $177.00 to $172.00 and set an “outperform” rating for the company in a report on Monday, February 24th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. United Technologies currently has a consensus rating of “Buy” and an average price target of $163.00.
The firm has a market capitalization of $103.29 billion, a PE ratio of 15.99, a P/E/G ratio of 1.78 and a beta of 1.26. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average price is $145.11 and its 200 day moving average price is $143.37.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, January 28th. The conglomerate reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. The business had revenue of $19.55 billion during the quarter, compared to the consensus estimate of $19.34 billion. United Technologies had a net margin of 7.19% and a return on equity of 16.60%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.95 earnings per share. As a group, sell-side analysts forecast that United Technologies Co. will post 8.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $0.735 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.87%. United Technologies’s dividend payout ratio (DPR) is presently 35.59%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bangor Savings Bank grew its holdings in United Technologies by 18.2% in the fourth quarter. Bangor Savings Bank now owns 6,995 shares of the conglomerate’s stock valued at $1,047,000 after purchasing an additional 1,078 shares during the period. Cannell Peter B & Co. Inc. grew its holdings in United Technologies by 1.7% in the fourth quarter. Cannell Peter B & Co. Inc. now owns 55,864 shares of the conglomerate’s stock valued at $8,366,000 after purchasing an additional 912 shares during the period. Windsor Group LTD grew its holdings in United Technologies by 5.9% in the fourth quarter. Windsor Group LTD now owns 7,978 shares of the conglomerate’s stock valued at $1,195,000 after purchasing an additional 448 shares during the period. Mitchell Sinkler & Starr PA grew its holdings in United Technologies by 7.7% in the fourth quarter. Mitchell Sinkler & Starr PA now owns 14,004 shares of the conglomerate’s stock valued at $2,097,000 after purchasing an additional 1,000 shares during the period. Finally, CCG Wealth Management LLC purchased a new stake in United Technologies in the fourth quarter valued at approximately $226,000. Institutional investors and hedge funds own 82.01% of the company’s stock.
About United Technologies (NYSE:UTX)
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.
