Traders Buy United Technologies (UTX) on Weakness

Traders purchased shares of United Technologies Co. (NYSE:UTX) on weakness during trading on Thursday. $287.02 million flowed into the stock on the tick-up and $230.76 million flowed out of the stock on the tick-down, for a money net flow of $56.26 million into the stock. Of all equities tracked, United Technologies had the 22nd highest net in-flow for the day. United Technologies traded down ($1.75) for the day and closed at $129.37

A number of research firms have weighed in on UTX. Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Friday. Robert W. Baird increased their price objective on United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, September 20th. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. UBS Group began coverage on United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating for the company. Finally, Jefferies Financial Group set a $157.00 price objective on United Technologies and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. United Technologies currently has a consensus rating of “Buy” and a consensus target price of $149.70.

The company has a market capitalization of $111.86 billion, a PE ratio of 19.49, a P/E/G ratio of 2.12 and a beta of 0.98. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.82.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. The business had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 EPS. Analysts anticipate that United Technologies Co. will post 7.23 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, November 15th. United Technologies’s dividend payout ratio is 42.11%.

In other news, VP Robert J. Bailey sold 828 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total transaction of $111,573.00. Following the completion of the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $269,500. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Charles D. Gill sold 14,255 shares of the stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the transaction, the vice president now directly owns 55,029 shares of the company’s stock, valued at $7,507,606.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,511 shares of company stock valued at $2,521,974. Company insiders own 0.17% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. LPL Financial LLC increased its stake in United Technologies by 20.0% in the 1st quarter. LPL Financial LLC now owns 202,729 shares of the conglomerate’s stock valued at $25,507,000 after purchasing an additional 33,739 shares in the last quarter. Mariner LLC increased its stake in United Technologies by 13.9% in the 1st quarter. Mariner LLC now owns 29,293 shares of the conglomerate’s stock valued at $3,687,000 after purchasing an additional 3,579 shares in the last quarter. Kovack Advisors Inc. increased its stake in United Technologies by 53.3% in the 1st quarter. Kovack Advisors Inc. now owns 2,799 shares of the conglomerate’s stock valued at $352,000 after purchasing an additional 973 shares in the last quarter. Freestone Capital Holdings LLC increased its stake in United Technologies by 9.5% in the 1st quarter. Freestone Capital Holdings LLC now owns 45,476 shares of the conglomerate’s stock valued at $5,722,000 after purchasing an additional 3,950 shares in the last quarter. Finally, Amussen Hunsaker Associates LLC increased its stake in United Technologies by 5.0% in the 1st quarter. Amussen Hunsaker Associates LLC now owns 12,840 shares of the conglomerate’s stock valued at $1,616,000 after purchasing an additional 611 shares in the last quarter. 81.68% of the stock is owned by institutional investors and hedge funds.

About United Technologies (NYSE:UTX)

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.

Recommended Story: How to Invest in an Index Fund

Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply