Insider Selling: United Technologies Co. (UTX) VP Sells $102,175.78 in Stock
United Technologies Co. (NYSE:UTX) VP Robert J. Bailey sold 833 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $122.66, for a total value of $102,175.78. Following the sale, the vice president now owns 2,000 shares in the company, valued at approximately $245,320. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
United Technologies Co. (UTX) traded up $0.82 on Thursday, hitting $124.30. The stock had a trading volume of 5,207,000 shares, compared to its average volume of 3,049,870. United Technologies Co. has a fifty-two week low of $106.85 and a fifty-two week high of $124.79. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a market cap of $98,607.42, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 2.22 and a beta of 1.07.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. equities analysts forecast that United Technologies Co. will post 6.61 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of UTX. PGGM Investments boosted its position in United Technologies by 52.4% during the second quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock valued at $91,486,000 after purchasing an additional 257,582 shares in the last quarter. Connecticut Wealth Management LLC boosted its position in United Technologies by 10.1% during the second quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock valued at $1,473,000 after purchasing an additional 1,098 shares in the last quarter. Huntington National Bank boosted its position in United Technologies by 3.7% during the second quarter. Huntington National Bank now owns 284,531 shares of the conglomerate’s stock valued at $34,744,000 after purchasing an additional 10,025 shares in the last quarter. Pioneer Investment Management Inc. boosted its position in United Technologies by 2.1% during the first quarter. Pioneer Investment Management Inc. now owns 1,223,811 shares of the conglomerate’s stock valued at $137,324,000 after purchasing an additional 25,625 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in United Technologies by 0.6% during the second quarter. Russell Investments Group Ltd. now owns 1,695,965 shares of the conglomerate’s stock valued at $207,154,000 after purchasing an additional 9,664 shares in the last quarter. 80.20% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on UTX. Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Royal Bank of Canada set a $126.00 price objective on United Technologies and gave the company a “hold” rating in a research report on Sunday, November 12th. Cowen reaffirmed a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research report on Friday, November 10th. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Stifel Nicolaus upped their price objective on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $125.63.
About United Technologies
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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