United Technologies (UTX) PT Raised to $164.00 at Morgan Stanley

United Technologies (NYSE:UTX) had its target price boosted by analysts at Morgan Stanley from $155.00 to $164.00 in a research note issued on Monday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the conglomerate’s stock. Morgan Stanley’s price target would indicate a potential upside of 22.76% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Seaport Global Securities assumed coverage on shares of United Technologies in a research note on Friday, May 10th. They set a “neutral” rating and a $136.86 target price on the stock. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Barclays increased their target price on shares of United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $159.00 target price on shares of United Technologies in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. began coverage on shares of United Technologies in a research note on Friday, February 22nd. They issued an “overweight” rating and a $132.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $148.07.

Shares of UTX stock traded down $0.16 during mid-day trading on Monday, hitting $133.59. 292,439 shares of the stock were exchanged, compared to its average volume of 2,861,000. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. United Technologies has a 52-week low of $100.48 and a 52-week high of $144.40. The firm has a market cap of $115.33 billion, a P/E ratio of 17.55, a PEG ratio of 1.91 and a beta of 1.23.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.20. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The business had revenue of $18.37 billion for the quarter, compared to analyst estimates of $18.01 billion. During the same period in the prior year, the company posted $1.77 EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts anticipate that United Technologies will post 7.96 earnings per share for the current fiscal year.

In other United Technologies news, VP Robert J. Bailey sold 1,418 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $126.20, for a total value of $178,951.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Akhil Johri sold 3,210 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $128.49, for a total transaction of $412,452.90. Following the completion of the sale, the vice president now owns 62,915 shares of the company’s stock, valued at approximately $8,083,948.35. The disclosure for this sale can be found here. Insiders sold a total of 28,415 shares of company stock worth $3,614,625 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in UTX. Oregon Public Employees Retirement Fund raised its holdings in United Technologies by 11,458.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,426,355 shares of the conglomerate’s stock valued at $89,000 after acquiring an additional 9,344,798 shares during the last quarter. Norges Bank acquired a new stake in United Technologies in the 4th quarter valued at about $824,350,000. Third Point LLC acquired a new stake in United Technologies in the 1st quarter valued at about $835,207,000. BlackRock Inc. raised its holdings in United Technologies by 13.3% in the 4th quarter. BlackRock Inc. now owns 54,035,145 shares of the conglomerate’s stock valued at $5,753,662,000 after acquiring an additional 6,347,718 shares during the last quarter. Finally, Jackson Square Partners LLC acquired a new stake in United Technologies in the 1st quarter valued at about $332,252,000. Institutional investors own 80.53% of the company’s stock.

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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