Stock Analysis:United Technologies Corporation (NYSE:UTX) Target Upped
In an analyst research report published by JP Morgan on 11 December, United Technologies Corporation (NYSE:UTX) had its TP increased to $105.00. The firm right now has a solid “Neutral” rating on shares.
From a total of 17 analysts covering United Technologies Corporation (NYSE:UTX) stock, 11 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 55% of the ratings are positive. The highest target price is $125 while the lowest target price is $96. The mean of all analyst targets is $109.18 with a 20.33% above today’s ($94.05) stock price. United Technologies Corporation was the topic of 24 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Liberum Capital initiated shares on December 1 with “Hold” rating. Deutsche Bank maintained shares with “Hold” rating and $102 target share price in a report from a September 21. Citigroup maintained UTX stock in a recent report from October 21 with “Buy” rating. Barclays Capital downgraded the rating on August 31. Barclays Capital has a “Equal Weight” rating and a $100 price target on shares. Finally, JP Morgan initiated the stock with “Neutral” rating in a report issued on an October 8.
Approximately 4.83 million shares of stock traded hands or 5.00% up from the average. United Technologies Corporation (NYSE:UTX) has declined 20.74% since May 8, 2015 and is downtrending. It has underperformed by 17.72% the S&P500.
The overall sentiment of institutions has decreased to 0.85 in Q2 2015. Its down 0.14, from 0.99 in 2015Q2. The ratio fall, as 153 institutions have sold all the shares of United Technologies Corporation that they owned while 555 funds have taken shares off the table. 77 funds have purchased shares for the first time while 524 added to their positions. These institutions now hold 659.02 million shares or 7.36% less than the 711.35 million shares they owned in 2015Q2.
The Fund Csu Producer Resources Inc. currently is holding shares equating to 11.67% of its total portfolio in United Technologies Corporation representing a total of 15,000 shares. Another fund,Meritage Group Lp, is holding a total of 3.10 million shares equating to 6.24% of their holdings. Additionally, Jensen Investment Management Inc has a 2.92 million share stake in United Technologies Corporation which represents 4.58% of their total portfolio. The Fund, Cincinnati Casualty Co, based out of Ohio, has also built up a stake in the stock, which represents a total of 4.55% of their total portfolio. Finally First Pacific Advisors Llc, a fund which is based in the state of California reported a total holdings of 5.73 million shares.
United Technologies Corporation provides high technology services and products to the building systems and aerospace industries across the world. The company has a market cap of $83.95 billion. The Firm operates through five divisions: Otis; UTC Climate, Controls & Security; Pratt & Whitney; UTC Aerospace Systems and Sikorsky. It has 14.67 P/E ratio. Otis designs, makes, sells and installs a range of passenger and freight elevators for low-, medium- and high-speed applications, as well as a line of escalators and moving walkways.
According to Zacks Investment Research, “United Technologies Corporation provides a broad range of high technology products and services to the building systems and aerospace industries. Those products include Pratt & Whitney aircraft engines, space propulsion systems and industrial gas turbines; Carrier heating, air conditioning and refrigeration; Otis elevator, escalator and people movers; Hamilton Sundstrand aerospace and industrial products; Sikorsky helicopters and International Fuel Cells power systems. (Company Press Release)” Get a free copy of the Zacks research report on United Technologies Corporation (UTX).