Traders Buy Shares of United Technologies Corporation (UTX) on Weakness
Traders bought shares of United Technologies Corporation (NYSE:UTX) on weakness during trading on Friday. $104.86 million flowed into the stock on the tick-up and $51.62 million flowed out of the stock on the tick-down, for a money net flow of $53.24 million into the stock. Of all companies tracked, United Technologies Corporation had the 12th highest net in-flow for the day. United Technologies Corporation traded down ($0.62) for the day and closed at $115.48
Several equities analysts have recently commented on the company. Zacks Investment Research lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Cowen and Company restated a “buy” rating and set a $127.00 price target on shares of United Technologies Corporation in a research report on Tuesday, July 25th. BidaskClub lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Morgan Stanley restated an “overweight” rating and set a $138.00 price target (up from $132.00) on shares of United Technologies Corporation in a research report on Monday, July 10th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $125.00 price target on shares of United Technologies Corporation in a research report on Friday, July 7th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. United Technologies Corporation currently has a consensus rating of “Hold” and a consensus price target of $123.54.
The firm has a market capitalization of $92.24 billion, a price-to-earnings ratio of 17.59 and a beta of 1.06. The company has a 50 day moving average price of $120.41 and a 200-day moving average price of $117.13.
United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.07. The business had revenue of $15.28 billion during the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $1.82 EPS. On average, equities research analysts expect that United Technologies Corporation will post $6.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.42%. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio (DPR) is currently 42.68%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. WFG Advisors LP increased its position in United Technologies Corporation by 7.0% in the second quarter. WFG Advisors LP now owns 5,735 shares of the conglomerate’s stock worth $700,000 after buying an additional 373 shares during the last quarter. Toronto Dominion Bank increased its position in United Technologies Corporation by 20.5% in the second quarter. Toronto Dominion Bank now owns 288,845 shares of the conglomerate’s stock worth $35,272,000 after buying an additional 49,205 shares during the last quarter. Afam Capital Inc. acquired a new position in United Technologies Corporation during the second quarter worth about $208,000. Beaton Management Co. Inc. acquired a new position in United Technologies Corporation during the second quarter worth about $766,000. Finally, Tandem Investment Advisors Inc. increased its position in United Technologies Corporation by 3.5% in the second quarter. Tandem Investment Advisors Inc. now owns 45,109 shares of the conglomerate’s stock worth $5,508,000 after buying an additional 1,541 shares during the last quarter. Institutional investors own 78.69% of the company’s stock.
United Technologies Corporation Company Profile
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.