United Technologies Co. (NYSE:UTX) EVP Michael R. Dumais sold 4,329 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $130.98, for a total transaction of $567,012.42. Following the completion of the sale, the executive vice president now directly owns 39,265 shares in the company, valued at approximately $5,142,929.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
UTX stock opened at $123.74 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $144.40. The company’s 50 day moving average is $131.70 and its two-hundred day moving average is $130.32. The stock has a market cap of $110.46 billion, a P/E ratio of 16.26, a PEG ratio of 1.81 and a beta of 1.20.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company had revenue of $19.63 billion for the quarter, compared to analysts’ expectations of $19.58 billion. During the same quarter last year, the company earned $1.97 earnings per share. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts predict that United Technologies Co. will post 8.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.38%. United Technologies’s payout ratio is currently 38.63%.
A number of hedge funds have recently added to or reduced their stakes in the business. Wealth Architects LLC grew its position in United Technologies by 4.3% in the 2nd quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock valued at $236,000 after buying an additional 75 shares during the last quarter. Patten Group Inc. grew its position in United Technologies by 0.3% in the 2nd quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock valued at $3,643,000 after buying an additional 75 shares during the last quarter. Glenview State Bank Trust DEPT. grew its position in United Technologies by 3.0% in the 2nd quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock valued at $331,000 after buying an additional 75 shares during the last quarter. Mcrae Capital Management Inc. grew its position in United Technologies by 1.4% in the 2nd quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock valued at $715,000 after buying an additional 75 shares during the last quarter. Finally, Heritage Way Advisors LLC grew its position in United Technologies by 0.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 18,501 shares of the conglomerate’s stock valued at $2,409,000 after buying an additional 75 shares during the last quarter. 81.03% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on UTX shares. Morgan Stanley raised their target price on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Cowen raised shares of United Technologies from a “market perform” rating to an “outperform” rating and raised their target price for the company from $135.00 to $150.00 in a report on Monday, June 24th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Bank of America reaffirmed a “buy” rating and issued a $195.00 target price (up previously from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Finally, Zacks Investment Research cut shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price on the stock. in a report on Friday, July 19th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $152.21.
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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