United Technologies Co. (NYSE:UTX) – Equities research analysts at Jefferies Financial Group issued their FY2022 earnings per share estimates for United Technologies in a note issued to investors on Thursday, January 9th, Zacks Investment Research reports. Jefferies Financial Group analyst S. Kahyaoglu forecasts that the conglomerate will earn $10.25 per share for the year.
Several other analysts have also issued reports on the company. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Thursday, November 28th. Cowen reaffirmed a “buy” rating and issued a $169.00 target price on shares of United Technologies in a research report on Wednesday, January 22nd. Credit Suisse Group set a $162.00 price target on United Technologies and gave the stock a “buy” rating in a research note on Friday, October 25th. UBS Group boosted their price target on United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. increased their price objective on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. United Technologies currently has a consensus rating of “Buy” and an average price target of $160.79.
Shares of NYSE:UTX traded down $2.16 during mid-day trading on Monday, hitting $151.03. The stock had a trading volume of 4,334,479 shares, compared to its average volume of 3,380,512. United Technologies has a 12-month low of $113.77 and a 12-month high of $155.53. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 1.06. The company has a market cap of $132.24 billion, a PE ratio of 25.51, a P/E/G ratio of 2.00 and a beta of 1.22. The company’s 50 day moving average is $151.21 and its 200-day moving average is $140.50.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of United Technologies by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 68,834,966 shares of the conglomerate’s stock valued at $8,962,313,000 after acquiring an additional 777,327 shares during the last quarter. Morgan Stanley grew its holdings in United Technologies by 2.0% during the second quarter. Morgan Stanley now owns 11,814,971 shares of the conglomerate’s stock valued at $1,538,310,000 after purchasing an additional 231,073 shares during the period. Fisher Asset Management LLC increased its stake in United Technologies by 2.5% in the third quarter. Fisher Asset Management LLC now owns 4,727,841 shares of the conglomerate’s stock valued at $645,445,000 after purchasing an additional 117,400 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in United Technologies by 2.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,533,488 shares of the conglomerate’s stock valued at $482,392,000 after purchasing an additional 89,021 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in United Technologies by 1,510.6% in the second quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock valued at $433,442,000 after purchasing an additional 3,122,355 shares in the last quarter. Institutional investors and hedge funds own 81.00% of the company’s stock.
In other United Technologies news, insider Robert F. Leduc sold 33,175 shares of United Technologies stock in a transaction on Monday, November 4th. The shares were sold at an average price of $147.01, for a total transaction of $4,877,056.75. Following the sale, the insider now owns 96,270 shares in the company, valued at $14,152,652.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael R. Dumais sold 6,554 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $145.91, for a total transaction of $956,294.14. Following the completion of the transaction, the executive vice president now owns 37,173 shares of the company’s stock, valued at approximately $5,423,912.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,015 shares of company stock worth $10,163,321. Corporate insiders own 0.15% 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.