United Technologies Co. (NYSE:UTX) EVP Michael R. Dumais sold 4,329 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $130.98, for a total transaction of $567,012.42. Following the transaction, the executive vice president now directly owns 39,265 shares of the company’s stock, valued at approximately $5,142,929.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of UTX stock traded up $0.93 on Tuesday, reaching $128.95. 2,393,384 shares of the company were exchanged, compared to its average volume of 3,802,845. The company has a market cap of $111.18 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20. The firm has a 50-day moving average of $131.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $144.40.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. The business had revenue of $19.63 billion during the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.97 earnings per share. Analysts anticipate that United Technologies Co. will post 8.02 EPS for the current year.
UTX has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $159.00 target price on shares of United Technologies in a report on Wednesday, April 24th. Zacks Investment Research cut shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a report on Friday, July 19th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Barclays lifted their price objective on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Friday, June 14th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $152.21.
Several hedge funds have recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new position in United Technologies during the second quarter worth about $260,000. Virtus ETF Advisers LLC acquired a new position in United Technologies during the second quarter worth about $38,000. Blackhawk Capital Partners LLC. boosted its position in United Technologies by 41.3% during the second quarter. Blackhawk Capital Partners LLC. now owns 13,866 shares of the conglomerate’s stock worth $1,805,000 after acquiring an additional 4,051 shares during the last quarter. Chilton Capital Management LLC boosted its position in United Technologies by 172.4% during the second quarter. Chilton Capital Management LLC now owns 5,706 shares of the conglomerate’s stock worth $743,000 after acquiring an additional 3,611 shares during the last quarter. Finally, United Capital Financial Advisers LLC boosted its position in United Technologies by 3.1% during the second quarter. United Capital Financial Advisers LLC now owns 316,314 shares of the conglomerate’s stock worth $41,184,000 after acquiring an additional 9,466 shares during the last quarter. 81.03% of the stock is 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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