Investors Buy United Technologies (UTX) on Weakness
Investors bought shares of United Technologies Co. (NYSE:UTX) on weakness during trading hours on Wednesday. $142.55 million flowed into the stock on the tick-up and $94.62 million flowed out of the stock on the tick-down, for a money net flow of $47.93 million into the stock. Of all companies tracked, United Technologies had the 18th highest net in-flow for the day. United Technologies traded down ($0.67) for the day and closed at $131.75
Several analysts have recently weighed in on UTX shares. Morgan Stanley started coverage on shares of United Technologies in a research note on Friday, June 15th. They issued an “overweight” rating and a $160.00 price target for the company. Jefferies Financial Group set a $157.00 price target on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, July 10th. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. Daiwa Capital Markets raised shares of United Technologies from a “hold” rating to an “outperform” rating in a research note on Tuesday, May 8th. Finally, Wolfe Research started coverage on shares of United Technologies in a research note on Wednesday, June 27th. They issued an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $142.17.
The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46. The firm has a market capitalization of $106.49 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.02 and a beta of 1.05.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. United Technologies’s dividend payout ratio is currently 42.11%.
In other United Technologies news, VP Charles D. Gill sold 14,255 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the sale, the vice president now directly owns 55,029 shares in the company, valued at approximately $7,507,606.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 sale, the vice president now owns 2,000 shares in the company, valued at $269,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,470 shares of company stock worth $4,571,162. 0.17% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Credit Agricole S A raised its holdings in shares of United Technologies by 101.4% in the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after purchasing an additional 436 shares in the last quarter. Silvant Capital Management LLC acquired a new stake in shares of United Technologies in the 1st quarter valued at $113,000. Jolley Asset Management LLC acquired a new stake in shares of United Technologies in the 2nd quarter valued at $114,000. Fort L.P. acquired a new stake in shares of United Technologies in the 2nd quarter valued at $120,000. Finally, WP Advisors LLC acquired a new stake in shares of United Technologies in the 2nd quarter valued at $126,000. Institutional investors own 81.77% of the company’s stock.
United Technologies Company Profile (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.
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