United Tech (NYSE:UTX) Downgrade of Rating
United Tech (NYSE:UTX) was lowered by Argus from Buy rating to Hold rating in a note issued to investors and clients on Thursday, 26 January.
The company’s rating downgrade is noticed by equity traders, as NYSE:UTX is right now trading 0.00% lower at $110.96 as of 12:03 AM New York time. United Tech’s stock is 0% over the last 200 days. It has underperformed the S&P500 Index, which has increased 12.56% over the same time.
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 upside potential of 0.68% over the current price.
Institutional Ownership
Csu Producer Resources Inc. had the most significant stake with ownership of 15,000 shares as of Q2 2015 for 8.95% of the equity exposure. Southeastern Asset Management Inc Tn is another bull as the fund who is possessing 6.61M shares of United Tech or 6.43% of their equity exposure. Furthermore, Meritage Group Lp have 5.77% of their equity exposure invested in the company for 2.17M shares. The California-based fund First Pacific Advisors Llc disclosed it had purchased so far a stake worth about 5.47% of the fund’s stock portfolio in United Tech. The California-based fund Saratoga Research & Investment Management is also positive about the stock, possessing 6.49M shares or 5.05% of their equity 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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
United Tech (NYSE:UTX) closed at $110.96 yesterday. A total of 296 shares of the company’s stock traded hands. This is down from average of 2.93 million shares. United Tech has a 52 week low of $83.85 and a 52 week high of $112.83. The company has a market cap of $90.83 billion and a P/E ratio of 18.12.
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