Traders Buy United Technologies (UTX) on Weakness
Investors bought shares of United Technologies Co. (NYSE:UTX) on weakness during trading hours on Monday. $170.64 million flowed into the stock on the tick-up and $96.10 million flowed out of the stock on the tick-down, for a money net flow of $74.54 million into the stock. Of all equities tracked, United Technologies had the 11th highest net in-flow for the day. United Technologies traded down ($0.04) for the day and closed at $137.76
Several analysts have recently issued reports on the stock. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. UBS Group assumed coverage on shares of United Technologies in a research note on Wednesday, August 15th. They set a “buy” rating for the company. Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, July 10th. Finally, Morgan Stanley assumed coverage on shares of United Technologies in a research note on Friday, June 15th. They set an “overweight” rating and a $160.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $146.78.
The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $107.12 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01.
In related news, CFO Akhil Johri sold 3,428 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total transaction of $465,590.96. Following the completion of the sale, the chief financial officer now directly owns 43,403 shares of the company’s stock, valued at approximately $5,894,995.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 828 shares of the company’s stock in a transaction 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 directly owns 2,000 shares of the company’s stock, valued at $269,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,511 shares of company stock valued at $2,521,974. 0.17% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Advisory Inc. acquired a new position in United Technologies in the 2nd quarter worth $341,297,000. Boston Partners lifted its holdings in United Technologies by 25.0% in the 2nd quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock worth $844,240,000 after buying an additional 1,349,539 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in United Technologies by 597.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,289,716 shares of the conglomerate’s stock worth $161,253,000 after buying an additional 1,104,849 shares in the last quarter. Mainstay Capital Management LLC ADV lifted its holdings in United Technologies by 5,810.8% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 993,368 shares of the conglomerate’s stock worth $8,864,000 after buying an additional 976,562 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in United Technologies by 274.9% in the 1st quarter. Toronto Dominion Bank now owns 1,312,403 shares of the conglomerate’s stock worth $165,087,000 after buying an additional 962,376 shares in the last quarter. 82.05% of the stock is owned by hedge funds and other institutional investors.
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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