United Technologies Corporation (NYSE:UTX) VP Robert J. Bailey sold 833 shares of United Technologies 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 sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $245,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
United Technologies Corporation (NYSE:UTX) opened at $123.30 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The stock has a market cap of $98,072.38, a P/E ratio of 18.55, a P/E/G ratio of 2.21 and a beta of 1.07. United Technologies Corporation has a one year low of $106.85 and a one year high of $124.79.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. United Technologies’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 earnings per share. research analysts forecast that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Friday, November 17th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, November 16th. United Technologies’s dividend payout ratio is presently 43.41%.
Several hedge funds have recently modified their holdings of the company. FMR LLC lifted its position in shares of United Technologies by 13.2% in the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after buying an additional 2,401,795 shares during the last quarter. Harbour Capital Advisors LLC lifted its position in United Technologies by 11,652.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock valued at $17,420,000 after purchasing an additional 2,109,056 shares during the last quarter. Stifel Financial Corp lifted its position in United Technologies by 14,827.8% in the 3rd quarter. Stifel Financial Corp now owns 1,079,875 shares of the conglomerate’s stock valued at $125,442,000 after purchasing an additional 1,072,641 shares during the last quarter. Vanguard Group Inc. lifted its position in United Technologies by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after purchasing an additional 848,623 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its position in United Technologies by 95.6% in the 2nd quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock valued at $197,453,000 after purchasing an additional 790,496 shares during the last quarter. 80.20% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on UTX. Zacks Investment Research downgraded shares of United Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Cowen downgraded shares of United Technologies from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $127.00 to $120.00 in a research note on Wednesday, September 6th. Bank of America reiterated a “buy” rating and set a $140.00 target price on shares of United Technologies in a research note on Wednesday, September 6th. Jefferies Group reissued a “buy” rating and issued a $139.00 price target on shares of United Technologies in a research report on Tuesday, August 29th. Finally, Credit Suisse Group reissued a “neutral” rating on shares of United Technologies in a research report on Friday, September 1st. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $125.63.
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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