Traders Buy Shares of United Technologies (UTX) on Weakness

Traders purchased shares of United Technologies Co. (NYSE:UTX) on weakness during trading on Monday. $170.64 million flowed into the stock on the tick-up and $96.10 million flowed out of the stock on the tick-down, for a money net flow of $74.54 million into the stock. Of all companies tracked, United Technologies had the 11th highest net in-flow for the day. United Technologies traded down ($0.04) for the day and closed at $137.76

A number of research firms have weighed in on UTX. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research note on Friday. UBS Group started coverage on United Technologies in a research note on Wednesday, August 15th. They issued a “buy” rating on the stock. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Jefferies Financial Group set a $157.00 price objective on United Technologies and gave the stock a “buy” rating in a report on Tuesday, July 10th. Finally, Wolfe Research started coverage on United Technologies in a report on Wednesday, June 27th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $146.78.

The firm has a market capitalization of $107.12 billion, a PE ratio of 20.82, a PEG ratio of 2.03 and a beta of 1.01. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.82.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.12. The company had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.85 earnings per share. analysts predict that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.

In related news, CFO Akhil Johri sold 3,428 shares of the firm’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $135.82, for a total transaction of $465,590.96. Following the transaction, the chief financial officer now owns 43,403 shares of the company’s stock, valued at $5,894,995.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Charles D. Gill sold 14,255 shares of the firm’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the transaction, the vice president now directly owns 55,029 shares in the company, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,511 shares of company stock worth $2,521,974. Corporate insiders own 0.17% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in United Technologies by 0.9% in the 1st quarter. BlackRock Inc. now owns 47,285,799 shares of the conglomerate’s stock valued at $5,949,501,000 after purchasing an additional 435,497 shares in the last quarter. FMR LLC boosted its holdings in United Technologies by 2.7% in the 2nd quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock valued at $3,308,428,000 after purchasing an additional 707,417 shares in the last quarter. Third Point LLC boosted its holdings in United Technologies by 7.0% in the 2nd quarter. Third Point LLC now owns 7,600,000 shares of the conglomerate’s stock valued at $950,228,000 after purchasing an additional 500,000 shares in the last quarter. Boston Partners boosted its holdings in United Technologies by 25.0% in the 2nd quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock valued at $844,240,000 after purchasing an additional 1,349,539 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in United Technologies by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 4,086,665 shares of the conglomerate’s stock valued at $510,956,000 after purchasing an additional 150,259 shares in the last quarter. 82.05% of the stock is currently owned by hedge funds and other institutional investors.

United Technologies Company Profile (NYSE:UTX)

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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