United Tech profit beats forecasts; plans $12 billion share buyback

“We’re looking at those deals in the $1 to $5 billion range and clearly we have the capacity to continue to do those deals”, UTC Chief Executive Greg Hayes said after the company reported third-quarter results. Deutsche Bank downgraded United Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $128.00 to $112.00 in a report on Wednesday, July 22nd.

Shares United Technologies Corp. rose $2.40 to $94.77 in premarket trading but are still down 20 percent for the year. UTC Climate, Controls & Security is a provider of heating, ventilating, air conditioning (HVAC) and refrigeration options. Its Sikorsky segment additionally provides aftermarket helicopter and aircraft parts and services and makes military and commercial helicopters.

He further added that the company’s long-term growth prospect continues to remain stock and that their current position will allow them to continue to create value for their shareholders. The company has a market capitalization of $82.83 billion and a price-to-earnings ratio of 13.34. The rating is an average of the various different ratings given by analysts and brokers to United Tech Corporation and then averaged into one rating by a team of analysts at Zacks in Chicago, Illinois.

In its most recent quarter, the United Tech Corporation had actual sales of $ 16333M.

United Technologies Corporation has dropped 2.49% during the past week, however, the bigger picture is still very bullish; the shares have posted positive gains of 2.12% in the last 4 weeks. The stock’s 50-day moving average price is $91.38 and its 200-day moving average price is $105.98. The option with symbol: UTX160115P00085000 closed last at: $1.68 or 3.1% up.

In today’s session, United Technologies Corporation (UTX) recorded an unusually high (416) contracts volume of put trades. During the same quarter in the previous year, the company earned $1.79 EPS.

“Considering the revenue headwinds that UTX faced in the quarter, we view this as a good operating performance”, RBC Capital Markets analyst Robert Stallard said in a research note. A stock with a higher rating (3-5) yields an average recommendation of Hold, Sell or Strong Sell.

Taking a look at price target projections, covering sell-side analysts have placed a one-year objective of $110.285 on a consensus basis.

The street is mostly Neutral on UTX stock. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company.

UTC Aerospace Systems is a global provider of technologically advanced aerospace products and aftermarket service alternatives. The Company operates in six segments: Otis, Carrier and UTC Fire & Security (collectively referred to as the commercial businesses) serve customers in the commercial, government infrastructure and residential property sectors worldwide.