Traders bought shares of United Technologies Co. (NYSE:UTX) on weakness during trading on Friday. $92.74 million flowed into the stock on the tick-up and $46.91 million flowed out of the stock on the tick-down, for a money net flow of $45.83 million into the stock. Of all stocks tracked, United Technologies had the 21st highest net in-flow for the day. United Technologies traded down ($1.14) for the day and closed at $133.10
Several research analysts recently weighed in on UTX shares. Cowen restated a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a research report on Tuesday, April 24th. Stifel Nicolaus dropped their price objective on shares of United Technologies from $131.00 to $127.00 and set a “hold” rating for the company in a research report on Wednesday, April 25th. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, April 26th. ValuEngine cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Daiwa Capital Markets upgraded shares of United Technologies from a “hold” rating to an “outperform” rating in a research report on Tuesday, May 8th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $142.17.
The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.82. The stock has a market cap of $107.40 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 2.04 and a beta of 1.05.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, August 16th. United Technologies’s dividend payout ratio is currently 42.11%.
In related news, VP Robert J. Bailey sold 828 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total value of $111,573.00. Following the completion of the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $269,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Charles D. Gill sold 14,255 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the completion of the transaction, the vice president now directly owns 55,029 shares of the company’s stock, valued at $7,507,606.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,470 shares of company stock valued at $4,571,162. 0.17% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of United Technologies by 0.9% during the 1st quarter. BlackRock Inc. now owns 47,285,799 shares of the conglomerate’s stock worth $5,949,501,000 after buying an additional 435,497 shares during the last quarter. FMR LLC lifted its stake 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 during the last quarter. Geode Capital Management LLC lifted its stake in United Technologies by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 7,665,846 shares of the conglomerate’s stock valued at $975,815,000 after purchasing an additional 139,345 shares during the last quarter. Third Point LLC lifted its stake 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 during the last quarter. Finally, Boston Partners lifted its stake 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 during the last quarter. 81.76% of the stock is owned by hedge funds and other institutional investors.
About United Technologies
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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