Wells Fargo Believes UTX Won’t Stop Here

By Austin Angelo

Wells Fargo analyst Sam Pearlstein reiterated a Buy rating on United Technologies Corp. (NYSE: UTX) on November 9. The company’s shares opened today at $109.42, close to its 52-week high of $109.83.

According to TipRanks.com, Pearlstein is a 3-star analyst with an average return of 3.5% and a 70.8% success rate. Pearlstein covers the Industrial Goods sector, focusing on stocks such as General Dynamics Corp., Lockheed Martin Corp., and Huntington Ingalls.

United Technologies Corp. has an analyst consensus of Moderate Buy, with a price target consensus of $111.

The company has a one year high of $109.83 and a one year low of $83.39. Currently, United Technologies Corp. has an average volume of 3.44M.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2016, DELPECH PHILIPPE, the President of UTX sold 40,800 shares for a total of $4,394,976.

United Technologies Corp. engages in the provision of products and services to the building systems and aerospace industries worldwide. It operates through five business segments: Otis, UTC Climate, Controls & Security, Pratt & Whitney, UTC Aerospace Systems, and Sikorsky. The Otis segment designs, manufactures and markets elevators, escalators, moving walkways and service. The UTC Climate, Controls & Security segment provides heating, ventilating, air conditioning and refrigeration solutions, including controls for residential, commercial, industrial and transportation applications, security and fire safety products and services. The Pratt & Whitney segment provides aircraft engines for the commercial, military, business jet and general aviation markets. The UTC Aerospace Systems segment provides aerospace products and aftermarket services for diversified industries worldwide. Its aerospace products include electric power generation, management and distribution systems, flight control systems, engine control systems, intelligence, surveillance and reconnaissance systems, engine components, environmental control systems, fire protection and detection systems, propeller systems, aircraft nacelles, and interior, actuation, landing and electronic systems. The Sikorsky segment manufactures military and commercial helicopters and also provides aftermarket helicopter and aircraft parts and services. This segment’s aftermarket business includes spare parts sales, mission equipment, overhaul and repair services, maintenance contracts and logistics support programs for helicopters and other aircraft. The company was founded in 1934 and is headquartered in Farmington, CT.