United Technologies Corporation (NYSE:UTX) VP Robert J. Bailey sold 833 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $122.66, for a total transaction of $102,175.78. Following the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $245,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
United Technologies Corporation (NYSE UTX) traded up $0.41 during mid-day trading on Monday, reaching $122.81. 2,999,600 shares of the company’s stock were exchanged, compared to its average volume of 3,038,381. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a fifty-two week low of $106.85 and a fifty-two week high of $124.79. The stock has a market cap of $98,072.38, a PE ratio of 18.55, a PEG ratio of 2.21 and a beta of 1.07.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter in the previous year, the company earned $1.76 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. sell-side analysts forecast that United Technologies Corporation will post 6.61 earnings per share for the current fiscal year.
UTX has been the subject of several recent analyst reports. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Cowen reaffirmed a “buy” rating and set a $127.00 price objective on shares of United Technologies in a research note on Tuesday, September 5th. Credit Suisse Group reaffirmed a “neutral” rating on shares of United Technologies in a research note on Friday, September 1st. Jefferies Group reaffirmed a “buy” rating and set a $139.00 price objective on shares of United Technologies in a research note on Tuesday, August 29th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $125.00 price objective on shares of United Technologies in a research note on Sunday, August 13th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $125.63.
A number of hedge funds have recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. lifted its holdings in shares of United Technologies by 0.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 3,455,766 shares of the conglomerate’s stock worth $401,145,000 after acquiring an additional 10,893 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of United Technologies by 20.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,579 shares of the conglomerate’s stock worth $880,000 after acquiring an additional 1,301 shares during the last quarter. Institutional & Family Asset Management LLC lifted its holdings in shares of United Technologies by 1.5% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 39,751 shares of the conglomerate’s stock worth $4,614,000 after acquiring an additional 599 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of United Technologies in the 3rd quarter worth approximately $7,055,000. Finally, Atlantic Trust LLC lifted its holdings in shares of United Technologies by 2.2% in the 3rd quarter. Atlantic Trust LLC now owns 25,377 shares of the conglomerate’s stock worth $2,946,000 after acquiring an additional 550 shares during the last quarter. 80.20% of the stock is owned by institutional investors and hedge funds.
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About United Technologies
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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