Insider Selling: Geraud Darnis Sells 50,000 Shares of United Technologies Stock (UTX)
United Technologies (NYSE:UTX) CEO Geraud Darnis sold 50,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $109.45, for a total value of $5,472,500.00. Following the sale, the chief executive officer now directly owns 4,224 shares in the company, valued at approximately $462,317. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
United Technologies (NYSE:UTX) traded down 0.13% on Tuesday, hitting $109.68. The stock had a trading volume of 2,022,710 shares. United Technologies has a 52-week low of $99.50 and a 52-week high of $120.66. The stock’s 50-day moving average is $109.2 and its 200-day moving average is $114.3. The company has a market cap of $100.3 billion and a P/E ratio of 17.39.
United Technologies (NYSE:UTX) last released its earnings data on Tuesday, July 22nd. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.14. The company had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.81 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that United Technologies will post $6.86 EPS for the current fiscal year.
A number of analysts have recently weighed in on UTX shares. Analysts at Cowen and Company downgraded shares of United Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 12th. They now have a $118.00 price target on the stock, down previously from $135.00. Separately, analysts at RBC Capital raised their price target on shares of United Technologies from $132.00 to $138.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Barclays cut their price target on shares of United Technologies from $135.00 to $129.00 in a research note on Wednesday, July 23rd. They now have an “overweight” rating on the stock. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. United Technologies currently has an average rating of “Buy” and an average target price of $127.26.
United Technologies Corporation (NYSE:UTX) provides high technology products and services to the building systems and aerospace industries worldwide.
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