United Technologies Corporation (UTX) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Oct 10, 2016.
Many Wall Street Analysts have commented on United Technologies Corporation. Shares were Reiterated by UBS on Sep 19, 2016 to “Buy” and Lowered the Price Target to $ 115 from a previous price target of $118 .
On the company’s financial health, United Technologies Corporation reported $1.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.68. The company had revenue of $14874.00 million for the quarter, compared to analysts expectations of $14692.67 million. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS.
United Technologies Corporation closed down -1.5 points or -1.47% at $100.58 with 39,38,697 shares getting traded on Friday. Post opening the session at $100.96, the shares hit an intraday low of $99.81 and an intraday high of $101.01 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Sep 2, 2016, John V Faraci (director) purchased 1,179 shares at $109.39 per share price. According to the SEC, on Aug 12, 2016, Charles D Gill (Executive VP & General Counsel) sold 6,202 shares at $109.00 per share price. On Aug 9, 2016, Michael R Dumais (SVP, Strategic Planning) sold 2,349 shares at $107.05 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.