United Technologies Corporation (UTX) is Downgraded by Goldman to Neutral

United Technologies Corporation (UTX) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on May 2, 2016.

Many Wall Street Analysts have commented on United Technologies Corporation. 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 opened for trading at $106.32 and hit $107.07 on the upside on Wednesday, eventually ending the session at $105.89, with a gain of 1.04% or 1.09 points. The heightened volatility saw the trading volume jump to 63,38,720 shares. Company has a market cap of $88,570 M.

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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