United Technologies Co. (NYSE:UTX) CFO Sells $633,157.20 in Stock

United Technologies Co. (NYSE:UTX) CFO Akhil Johri sold 4,680 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $135.29, for a total transaction of $633,157.20. Following the transaction, the chief financial officer now directly owns 67,345 shares in the company, valued at $9,111,105.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NYSE:UTX traded up $0.60 during midday trading on Friday, hitting $138.06. The company’s stock had a trading volume of 3,004,653 shares, compared to its average volume of 3,654,504. The business’s 50 day simple moving average is $130.05 and its 200 day simple moving average is $130.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05. The company has a market cap of $115.55 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.89 and a beta of 1.21. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.16. The firm had revenue of $19.63 billion for the quarter, compared to the consensus estimate of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $1.97 earnings per share. On average, sell-side analysts predict that United Technologies Co. will post 8.03 earnings per share for the current fiscal year.

Several research firms have issued reports on UTX. Zacks Investment Research downgraded shares of 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 increased 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. Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of United Technologies in a report on Wednesday, September 4th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Finally, Morgan Stanley increased their price objective 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. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $152.21.

Several large investors have recently bought and sold shares of UTX. Nuveen Asset Management LLC lifted its stake in shares of United Technologies by 1,510.6% in the second quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock worth $433,442,000 after buying an additional 3,122,355 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of United Technologies by 170.5% in the first quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock worth $511,966,000 after buying an additional 2,503,654 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of United Technologies by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock worth $1,055,120,000 after buying an additional 1,293,517 shares in the last quarter. Balyasny Asset Management LLC lifted its stake in shares of United Technologies by 159.5% in the second quarter. Balyasny Asset Management LLC now owns 1,883,732 shares of the conglomerate’s stock worth $245,262,000 after buying an additional 1,157,940 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its stake in shares of United Technologies by 13,200.8% in the second quarter. Thoroughbred Financial Services LLC now owns 1,096,914 shares of the conglomerate’s stock worth $109,691,000 after buying an additional 1,088,667 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

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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