Traders Sell United Technologies Corp. (UTX) on Strength (UTX)
Investors sold shares of United Technologies Corp. (NYSE:UTX) on strength during trading hours on Monday. $37.92 million flowed into the stock on the tick-up and $67.18 million flowed out of the stock on the tick-down, for a money net flow of $29.26 million out of the stock. Of all equities tracked, United Technologies Corp. had the 0th highest net out-flow for the day. United Technologies Corp. traded up $0.30 for the day and closed at $103.96
Several research analysts have recently issued reports on the company. Goldman Sachs Group Inc. downgraded United Technologies Corp. from a “buy” rating to a “neutral” rating and upped their price objective for the company from $103.00 to $107.00 in a research note on Monday, May 2nd. Credit Suisse Group AG reaffirmed a “hold” rating on shares of United Technologies Corp. in a research note on Saturday. Royal Bank Of Canada downgraded United Technologies Corp. from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $109.00 to $108.00 in a research note on Tuesday, May 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded United Technologies Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Finally, Argus reaffirmed a “buy” rating on shares of United Technologies Corp. in a research note on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $110.31.
The company has a market capitalization of $87.00 billion and a price-to-earnings ratio of 12.19. The company’s 50 day moving average price is $101.07 and its 200-day moving average price is $97.26.
United Technologies Corp. (NYSE:UTX) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. The firm had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.18 billion. During the same quarter last year, the company posted $1.51 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that United Technologies Corp. will post $6.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Friday, August 19th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, August 17th.
In related news, insider David L. Gitlin sold 7,091 shares of the company’s stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $104.22, for a total transaction of $739,024.02. Following the completion of the sale, the insider now owns 15,086 shares in the company, valued at $1,572,262.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Charles D. Gill sold 8,958 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $102.04, for a total value of $914,074.32. Following the sale, the vice president now owns 55,078 shares of the company’s stock, valued at approximately $5,620,159.12. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of the stock. Security National Bank of SO Dak boosted its stake in United Technologies Corp. by 5.9% in the fourth quarter. Security National Bank of SO Dak now owns 11,562 shares of the company’s stock worth $1,111,000 after buying an additional 645 shares during the period. Oxbow Advisors LLC bought a new stake in shares of United Technologies Corp. during the fourth quarter worth approximately $1,217,000. Wellington Shields Capital Management LLC boosted its stake in shares of United Technologies Corp. by 8.6% in the fourth quarter. Wellington Shields Capital Management LLC now owns 13,273 shares of the company’s stock worth $1,275,000 after buying an additional 1,050 shares during the last quarter. Boltwood Capital Management boosted its stake in shares of United Technologies Corp. by 2.7% in the fourth quarter. Boltwood Capital Management now owns 13,875 shares of the company’s stock worth $1,333,000 after buying an additional 370 shares during the last quarter. Finally, Cim Investment Mangement Inc. bought a new stake in shares of United Technologies Corp. during the fourth quarter worth approximately $1,406,000.
United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries across the world. The Company operates through five segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney; and UTC Aerospace Systems. Otis designs, manufactures, sells and installs a range of passenger and freight elevators for low-, medium- and high-speed applications, as well as a line of escalators and moving walkways.
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