Investors Buy United Technologies Corporation (UTX) on Weakness
Traders bought shares of United Technologies Corporation (NYSE:UTX) on weakness during trading on Friday. $73.27 million flowed into the stock on the tick-up and $40.88 million flowed out of the stock on the tick-down, for a money net flow of $32.39 million into the stock. Of all companies tracked, United Technologies Corporation had the 11th highest net in-flow for the day. United Technologies Corporation traded down ($1.80) for the day and closed at $117.92
Several analysts have recently issued reports on the company. Zacks Investment Research lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Cowen and Company reissued a “buy” rating and set a $127.00 target price on shares of United Technologies Corporation in a report on Tuesday, July 25th. BidaskClub lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Morgan Stanley reissued an “overweight” rating and set a $138.00 target price (up from $132.00) on shares of United Technologies Corporation in a report on Monday, July 10th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $126.00 target price on shares of United Technologies Corporation in a report on Friday, July 7th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. United Technologies Corporation has an average rating of “Hold” and a consensus target price of $123.95.
The firm’s 50 day moving average is $118.86 and its 200-day moving average is $117.62. The firm has a market cap of $94.19 billion, a price-to-earnings ratio of 17.96 and a beta of 1.04.
United Technologies Corporation (NYSE:UTX) last posted its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that United Technologies Corporation will post $6.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.37%. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s payout ratio is presently 42.68%.
Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position in United Technologies Corporation by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after buying an additional 2,401,795 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in United Technologies Corporation by 11,652.2% in the second quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock worth $17,420,000 after buying an additional 2,109,056 shares during the last quarter. Vanguard Group Inc. boosted its position in United Technologies Corporation by 1.6% in the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after buying an additional 848,623 shares during the last quarter. Flossbach Von Storch AG boosted its position in United Technologies Corporation by 95.6% in the second quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock worth $197,453,000 after buying an additional 790,496 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in United Technologies Corporation by 50.9% in the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock worth $274,067,000 after buying an additional 756,600 shares during the last quarter. Hedge funds and other institutional investors own 78.85% of the company’s stock.
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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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