Traders sold shares of United Technologies Corporation (NYSE:UTX) on strength during trading hours on Monday. $32.09 million flowed into the stock on the tick-up and $93.12 million flowed out of the stock on the tick-down, for a money net flow of $61.03 million out of the stock. Of all stocks tracked, United Technologies Corporation had the 10th highest net out-flow for the day. United Technologies Corporation traded up $0.29 for the day and closed at $119.01
UTX has been the subject of several research reports. Bank of America Corp reissued a “buy” rating and set a $140.00 price target on shares of United Technologies Corporation in a report on Wednesday, September 6th. Deutsche Bank AG dropped their price target on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating for the company in a report on Wednesday, September 6th. Vertical Research cut United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a report on Tuesday, September 5th. Cowen and Company cut United Technologies Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $127.00 to $120.00 in a report on Wednesday, September 6th. Finally, Credit Suisse Group reissued a “buy” rating and set a $136.00 price target on shares of United Technologies Corporation in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $125.27.
The stock has a market cap of $95.06 billion, a price-to-earnings ratio of 18.45 and a beta of 1.05. The firm has a 50 day moving average price of $115.21 and a 200 day moving average price of $118.19.
United Technologies Corporation (NYSE:UTX) last released its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.07. The business had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 earnings per share. Equities research analysts forecast that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.35%. United Technologies Corporation’s dividend payout ratio (DPR) is currently 42.68%.
Large investors have recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. grew its stake in shares of United Technologies Corporation by 14.3% during the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares during the last quarter. Tortoise Investment Management LLC grew its stake in shares of United Technologies Corporation by 5.3% during the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after buying an additional 48 shares during the last quarter. Seven Bridges Advisors LLC bought a new position in shares of United Technologies Corporation during the second quarter valued at about $120,000. Winfield Associates Inc. grew its stake in shares of United Technologies Corporation by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after buying an additional 29 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of United Technologies Corporation during the second quarter valued at about $131,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.
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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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