Investors Sell Shares of United Technologies Corporation (UTX) on Strength (UTX)
Investors sold shares of United Technologies Corporation (NYSE:UTX) on strength during trading hours on Thursday. $28.04 million flowed into the stock on the tick-up and $55.95 million flowed out of the stock on the tick-down, for a money net flow of $27.91 million out of the stock. Of all stocks tracked, United Technologies Corporation had the 27th highest net out-flow for the day. United Technologies Corporation traded up $0.31 for the day and closed at $119.49
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Sanford C. Bernstein reissued a “market perform” rating and issued a $135.00 price target (up previously from $130.00) on shares of United Technologies Corporation in a research report on Friday, July 21st. Vertical Research lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, September 5th. Deutsche Bank AG dropped their price target on shares of United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Wednesday, September 6th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $136.00 price target on shares of United Technologies Corporation in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $125.27.
The company has a market cap of $95.45 billion, a price-to-earnings ratio of 18.20 and a beta of 1.05. The stock has a 50-day moving average price of $115.44 and a 200 day moving average price of $118.31.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The business had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that United Technologies Corporation will post $6.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, November 16th. United Technologies Corporation’s payout ratio is 42.68%.
Hedge funds have recently bought and sold shares of the business. Riggs Asset Managment Co. Inc. increased its position in United Technologies Corporation by 14.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after buying an additional 125 shares during the period. Tortoise Investment Management LLC increased its position in United Technologies Corporation by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after buying an additional 48 shares during the period. Seven Bridges Advisors LLC bought a new position in United Technologies Corporation during the 2nd quarter worth $120,000. Winfield Associates Inc. increased its position in United Technologies Corporation by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after buying an additional 29 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new position in United Technologies Corporation during the 2nd quarter worth $131,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.
About United Technologies Corporation
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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