Stock analysts at Argus upped their price objective on shares of United Technologies Corp. (NYSE:UTX) to $120.00 in a report issued on Wednesday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. Argus’ price objective would indicate a potential upside of 11.44% from the stock’s previous close.
Shares of United Technologies Corp. (NYSE:UTX) opened at 107.68 on Wednesday. United Technologies Corp. has a 52 week low of $74.44 and a 52 week high of $112.46. The stock’s 50-day moving average is $107.1 and its 200-day moving average is $100.8. The company has a market cap of $98.805 billion and a price-to-earnings ratio of 15.56.
United Technologies Corp. (NYSE:UTX) last released its earnings data on Tuesday, October 22nd. The company reported $1.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.54 by $0.01. The company had revenue of $15.50 billion for the quarter, compared to the consensus estimate of $16.18 billion. During the same quarter last year, the company posted $1.37 earnings per share. United Technologies Corp.’s revenue was up 2.8% compared to the same quarter last year. Analysts expect that United Technologies Corp. will post $6.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, November 13th. This is a positive change from United Technologies Corp.’s previous quarterly dividend of $0.54.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of United Technologies Corp. in a research note to investors on Monday. Finally, analysts at FBR Capital Markets reiterated a “market perform” rating on shares of United Technologies Corp. in a research note to investors on Thursday, October 24th. They now have a $110.00 price target on the stock. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $115.78.
United Technologies Corporation (NYSE:UTX) provides high technology products and services to the building systems and aerospace industries worldwide.
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