United Technologies Co. (NYSE:UTX) VP Robert J. Bailey sold 1,299 shares of United Technologies stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $149.17, for a total value of $193,771.83. Following the completion of the sale, the vice president now owns 2,600 shares in the company, valued at $387,842. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
UTX traded up $0.15 during trading on Friday, reaching $148.88. The company’s stock had a trading volume of 1,700,162 shares, compared to its average volume of 3,289,642. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93. The firm has a fifty day simple moving average of $138.67 and a two-hundred day simple moving average of $133.63. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $149.35. The company has a market cap of $127.63 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 2.07 and a beta of 1.22.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.18. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.31 billion. During the same period last year, the company posted $1.93 EPS. The business’s revenue was up 18.1% on a year-over-year basis. As a group, equities analysts forecast that United Technologies Co. will post 8.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, November 14th. United Technologies’s dividend payout ratio (DPR) is 38.63%.
UTX has been the topic of several research analyst reports. Zacks Investment Research cut United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective on the stock. in a report on Friday, July 19th. Barclays lifted their price objective on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Credit Suisse Group set a $162.00 price objective on United Technologies and gave the stock a “buy” rating in a report on Friday, October 25th. Cowen reiterated a “buy” rating and issued a $150.00 price objective on shares of United Technologies in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their price objective on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $154.69.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its position in shares of United Technologies by 6.1% during the 3rd quarter. Cetera Investment Advisers now owns 8,827 shares of the conglomerate’s stock valued at $1,206,000 after buying an additional 508 shares during the period. Miracle Mile Advisors LLC raised its position in shares of United Technologies by 3.2% during the 3rd quarter. Miracle Mile Advisors LLC now owns 6,119 shares of the conglomerate’s stock valued at $835,000 after buying an additional 191 shares during the period. Trillium Asset Management LLC purchased a new stake in shares of United Technologies during the 3rd quarter valued at approximately $296,000. Goelzer Investment Management Inc. raised its position in shares of United Technologies by 3.2% during the 3rd quarter. Goelzer Investment Management Inc. now owns 59,992 shares of the conglomerate’s stock valued at $8,190,000 after buying an additional 1,846 shares during the period. Finally, Tiedemann Advisors LLC raised its position in shares of United Technologies by 63.3% during the 3rd quarter. Tiedemann Advisors LLC now owns 19,051 shares of the conglomerate’s stock valued at $2,603,000 after buying an additional 7,388 shares during the period. 80.62% of the stock is currently owned by institutional investors and hedge funds.
About United Technologies
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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