Stock Traders Purchase High Volume of Call Options on United Technologies (UTX)
United Technologies (NYSE:UTX) saw some unusual options trading on Wednesday. Investors purchased 11,104 call options on the company, Analyst Ratings.Net reports. This represents an increase of approximately 246% compared to the average volume of 3,209 call options.
In other United Technologies news, CEO Geraud Darnis sold 50,000 shares of the 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. United Technologies presently has a consensus rating of “Buy” and an average target price of $127.26.
United Technologies (NYSE:UTX) traded down 0.54% on Wednesday, hitting $109.09. 2,548,101 shares of the company’s stock traded hands. United Technologies has a one year low of $99.50 and a one year high of $120.66. The stock has a 50-day moving average of $109.2 and a 200-day moving average of $114.3. The company has a market cap of $99.797 billion and a price-to-earnings ratio of 17.37.
United Technologies (NYSE:UTX) last posted its quarterly earnings results 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. On average, analysts predict that United Technologies will post $6.86 earnings per share 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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