United Technologies Corporation Sees Unusually Large Options Volume (UTX)
United Technologies Corporation (NYSE:UTX) saw some unusual options trading on Tuesday. Investors acquired 10,614 put options on the company. This represents an increase of 563% compared to the typical volume of 1,600 put options.
UTX has been the subject of a number of research reports. Zacks Investment Research upgraded United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research note on Tuesday, May 16th. UBS AG raised their target price on United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Cowen and Company restated a “buy” rating and issued a $127.00 target price on shares of United Technologies Corporation in a research note on Tuesday. Finally, Credit Suisse Group restated a “neutral” rating on shares of United Technologies Corporation in a research note on Friday, September 1st. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $124.48.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intl Fcstone Inc. bought a new stake in shares of United Technologies Corporation in the 2nd quarter valued at about $1,884,000. Griffin Asset Management Inc. bought a new stake in shares of United Technologies Corporation in the 2nd quarter valued at about $905,000. RNC Capital Management LLC grew its position in shares of United Technologies Corporation by 0.8% in the 2nd quarter. RNC Capital Management LLC now owns 5,948 shares of the conglomerate’s stock valued at $726,000 after buying an additional 47 shares during the last quarter. Atlantic Trust LLC grew its position in shares of United Technologies Corporation by 3.5% in the 2nd quarter. Atlantic Trust LLC now owns 24,827 shares of the conglomerate’s stock valued at $3,031,000 after buying an additional 828 shares during the last quarter. Finally, WFG Advisors LP grew its position in shares of United Technologies Corporation by 7.0% in the 2nd quarter. WFG Advisors LP now owns 5,735 shares of the conglomerate’s stock valued at $700,000 after buying an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 78.85% of the company’s stock.
United Technologies Corporation (UTX) opened at 109.98 on Friday. The firm’s 50-day moving average price is $117.65 and its 200-day moving average price is $117.62. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79. The company has a market cap of $87.85 billion, a PE ratio of 16.75 and a beta of 1.05.
United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The firm had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Wednesday, August 16th. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s payout ratio is 42.68%.
About United Technologies Corporation
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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