United Tech (NYSE:UTX) Rating Increased
Argus gave United Tech (NYSE:UTX) shares a new Buy rating in a research note shared with investors on Friday, 9 February. This is increase from the last Hold rating.
According to data compiled by Thomson Reuters, United Tech (NYSE:UTX)’s stock is covered by 18 equity analysts across the Street, with 1 analysts giving it a Sell rating, 11 a Buy rating, while 10 consider it a Hold. The 12-month consensus target price for the stock is $111.72, which reflects an downside potential of 7.12% over the current price.
Csu Producer Resources Inc. had the most significant stake with ownership of 15,000 shares as of q2 2015 for 8.95% of the long stock exposure. Southeastern Asset Management Inc Tn is another very bullish active investment manager who is owning 6.61 million shares of United Tech or 6.43% of their long stock exposure. Also, Meritage Group Lp have 5.77% of their long stock exposure invested in the company for 2.17 million shares. The California-based fund First Pacific Advisors Llc revealed it had purchased a stake worth about 5.47% of the active investment manager’s stock portfolio in United Tech. The California-based fund Saratoga Research & Investment Management is also positive about the stock, possessing 6.49 million shares or 5.05% of their long stock exposure.
United Tech (NYSE:UTX) Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
United Tech (NYSE:UTX) traded up 0.21% on 9 February, hitting $120.29. A total of 3.03M shares of the company’s stock traded hands. This is up from average of 2.92M shares. United Tech has a 52 week low of $106.85 and a 52 week high of $124.79. The company has a market cap of $96.06B and a P/E ratio of 18.61.
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