United Technologies (NYSE:UTX) Stock Price Up 10.6%

United Technologies Co. (NYSE:UTX)’s share price rose 10.6% on Wednesday . The stock traded as high as $87.45 and last traded at $95.92, approximately 716,837 shares were traded during trading. A decline of 94% from the average daily volume of 11,870,830 shares. The stock had previously closed at $86.76.

UTX has been the topic of several recent analyst reports. Credit Suisse Group reduced their price objective on shares of United Technologies from $177.00 to $172.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. They noted that the move was a valuation call. ValuEngine upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Thursday, November 28th. Benchmark initiated coverage on shares of United Technologies in a report on Friday, January 31st. They set a “buy” rating and a $186.00 target price on the stock. Finally, Barclays restated a “buy” rating and set a $150.00 target price on shares of United Technologies in a report on Friday, March 13th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $162.80.

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a market capitalization of $75.15 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 1.36 and a beta of 1.26. The firm’s fifty day simple moving average is $127.90 and its 200 day simple moving average is $140.77.

United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.10. United Technologies had a net margin of 7.19% and a return on equity of 16.60%. The company had revenue of $19.55 billion for the quarter, compared to the consensus estimate of $19.34 billion. During the same period last year, the company earned $1.95 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Analysts forecast that United Technologies Co. will post 7.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 14th were issued a $0.735 dividend. 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 2.81%. United Technologies’s dividend payout ratio (DPR) is presently 35.59%.

Several hedge funds and other institutional investors have recently bought and sold shares of UTX. Norges Bank acquired a new stake in shares of United Technologies in the fourth quarter valued at approximately $1,292,724,000. Capital International Investors raised its holdings in shares of United Technologies by 27.2% in the fourth quarter. Capital International Investors now owns 8,820,088 shares of the conglomerate’s stock valued at $1,320,896,000 after purchasing an additional 1,885,713 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of United Technologies by 7,504.9% in the fourth quarter. Bessemer Group Inc. now owns 1,138,071 shares of the conglomerate’s stock valued at $170,438,000 after purchasing an additional 1,123,106 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of United Technologies by 7.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,034,348 shares of the conglomerate’s stock valued at $2,251,543,000 after purchasing an additional 1,022,774 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of United Technologies by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 10,173,835 shares of the conglomerate’s stock valued at $1,523,634,000 after purchasing an additional 782,934 shares during the last quarter. Institutional investors own 81.71% of the company’s stock.

United Technologies Company Profile (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.

Further Reading: How are dividend achievers different from dividend aristocrats?

Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.