Insider Selling: United Technologies Corp. CEO Unloads 15,476 Shares of Stock (UTX)
United Technologies Corp. (NYSE:UTX) CEO Geraud Darnis sold 15,476 shares of United Technologies Corp. stock on the open market in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $114.77, for a total transaction of $1,776,180.52. Following the completion of the transaction, the chief executive officer now directly owns 4,224 shares in the company, valued at approximately $484,788. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on UTX shares. Analysts at Ned Davis Research upgraded shares of United Technologies Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday. Separately, analysts at Argus raised their price target on shares of United Technologies Corp. from $120.00 to $128.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of United Technologies Corp. from $117.00 to $131.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. United Technologies Corp. presently has a consensus rating of “Buy” and an average target price of $120.30.
United Technologies Corp. (NYSE:UTX) traded up 1.78% during mid-day trading on Monday, hitting $113.79. 7,665,439 shares of the company’s stock traded hands. United Technologies Corp. has a 52 week low of $87.57 and a 52 week high of $118.20. The stock has a 50-day moving average of $112.0 and a 200-day moving average of $107.3. The company has a market cap of $104.4 billion and a price-to-earnings ratio of 16.16.
United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.52 by $0.06. The company had revenue of $16.80 billion for the quarter, compared to the consensus estimate of $17.09 billion. During the same quarter last year, the company posted $1.04 earnings per share. United Technologies Corp.’s revenue was up 1.9% compared to the same quarter last year. Analysts expect that United Technologies Corp. will post $6.16 EPS for the current fiscal year.
United Technologies Corporation (NYSE:UTX) provides high technology products and services to the building systems and aerospace industries worldwide.
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