Investors Buy United Technologies Corporation (UTX) on Weakness
Traders bought shares of United Technologies Corporation (NYSE:UTX) on weakness during trading hours on Wednesday. $84.28 million flowed into the stock on the tick-up and $55.14 million flowed out of the stock on the tick-down, for a money net flow of $29.14 million into the stock. Of all companies tracked, United Technologies Corporation had the 26th highest net in-flow for the day. United Technologies Corporation traded down ($0.31) for the day and closed at $116.73
A number of research firms recently weighed in on UTX. Zacks Investment Research raised United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. BidaskClub raised United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Vertical Research lowered United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research note on Tuesday, September 5th. Royal Bank Of Canada reiterated a “hold” rating and set a $125.00 price objective on shares of United Technologies Corporation in a research note on Sunday, August 13th. Finally, Cowen and Company reiterated a “hold” rating and set a $120.00 price objective on shares of United Technologies Corporation in a research note on Tuesday, October 24th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $125.15.
The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The stock has a market capitalization of $93,220.00, a PE ratio of 17.58, a PEG ratio of 2.10 and a beta of 1.07.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. The business had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 earnings per share. equities research analysts predict that United Technologies Corporation will post 6.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio is presently 43.34%.
In related news, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings 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 valued at $6,693,250,000 after acquiring an additional 848,623 shares during the last quarter. BlackRock Inc. lifted its holdings in United Technologies Corporation by 0.3% in the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after acquiring an additional 133,036 shares during the last quarter. FMR LLC lifted its holdings in United Technologies Corporation by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after acquiring an additional 2,401,795 shares during the last quarter. Capital Research Global Investors lifted its holdings in United Technologies Corporation by 3.6% in the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after acquiring an additional 304,989 shares during the last quarter. Finally, Boston Partners lifted its holdings in United Technologies Corporation by 5.3% in the third quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock valued at $634,658,000 after acquiring an additional 274,184 shares during the last quarter. Hedge funds and other institutional investors own 78.33% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Investors Buy United Technologies Corporation (UTX) on Weakness” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/11/22/investors-buy-united-technologies-corporation-utx-on-weakness.html.
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.
Receive News & Stock Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related stocks with our FREE daily email newsletter.