United Technologies Corporation (UTX) is Downgraded by RBC Capital Mkts to Sector Perform, Lowers Price Target to $ 108

United Technologies Corporation (UTX) was Downgraded by RBC Capital Mkts to ” Sector Perform” while Lowering the Price Target of the company shares to $ 108 from a previous price target of $109 . Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on May 3, 2016.

Many Wall Street Analysts have commented on United Technologies Corporation. United Technologies Corporation was Downgraded by Goldman to ” Neutral” on May 2, 2016. Company shares were Downgraded by RBC Capital Mkts on Mar 1, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 109 from a previous price target of $100 .

On the company’s financial health, United Technologies Corporation reported $1.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $1.40. The company had revenue of $13357.00 million for the quarter, compared to analysts expectations of $13186.01 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS.

United Technologies Corporation (UTX) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $103.89 and reached the intraday high at $104.9. The bulls started the profit booking and pushed the shares to intraday low of $103.54. The trading session was marked by a volume range of 42,23,633 shares exchanging hands. The 52-week high of the shares is $119.66 and the 52-week low is $83.39. The market cap of the company stands at $87,344 M and there are 83,68,65,680 shares in public circulation.

In a different news, on Apr 29, 2016, David L. Gitlin (Pres., UTC Aerospace Systems) sold 7,091 shares at $104.22 per share price. According to the SEC, on Feb 2, 2016, Fredric G Reynolds (director) purchased 12,000 shares at $86.20 per share price. On Oct 28, 2015, Charles D Gill (Senior VP and General Counsel) sold 4,000 shares at $100.87 per share price, according to the Form-4 filing with the securities and exchange commission.

United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries across the world. The Company operates through five segments: Otis; UTC Climate Controls & Security; Pratt & Whitney; UTC Aerospace Systems and Sikorsky. Otis designs manufactures 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. UTC Climate Controls & Security is a provider of heating ventilating air conditioning (HVAC) and refrigeration solutions. Pratt & Whitney segment supplies aircraft engines for the commercial military business jet and general aviation markets. UTC Aerospace Systems is a global provider of technologically advanced aerospace products and aftermarket service solutions. Its Sikorsky segment manufactures military and commercial helicopters and also provides aftermarket helicopter and aircraft parts and services.

United Technologies Corporation

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