United Technologies Co. (NYSE:UTX) EVP Sells $567,012.42 in Stock

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United Technologies Co. (NYSE:UTX) EVP Michael R. Dumais sold 4,329 shares of United Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $130.98, for a total transaction of $567,012.42. Following the transaction, the executive vice president now directly owns 39,265 shares in the company, valued at $5,142,929.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NYSE UTX opened at $123.74 on Friday. The company’s fifty day simple moving average is $131.70 and its 200-day simple moving average is $130.32. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $144.40. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. The stock has a market cap of $110.46 billion, a P/E ratio of 16.26, a PEG ratio of 1.81 and a beta of 1.20.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. The business had revenue of $19.63 billion for the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.97 earnings per share. On average, research analysts expect that United Technologies Co. will post 8.02 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.38%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.

Several large investors have recently modified their holdings of the stock. Mutual Advisors LLC increased its stake in shares of United Technologies by 10.2% in the second quarter. Mutual Advisors LLC now owns 5,216 shares of the conglomerate’s stock worth $679,000 after buying an additional 484 shares during the last quarter. Smith Moore & CO. increased its stake in United Technologies by 1.9% during the second quarter. Smith Moore & CO. now owns 6,579 shares of the conglomerate’s stock valued at $857,000 after purchasing an additional 125 shares during the last quarter. MidWestOne Financial Group Inc. bought a new stake in United Technologies during the second quarter valued at $540,000. Integrated Wealth Concepts LLC increased its stake in United Technologies by 10.3% during the second quarter. Integrated Wealth Concepts LLC now owns 5,442 shares of the conglomerate’s stock valued at $676,000 after purchasing an additional 508 shares during the last quarter. Finally, Doyle Wealth Management increased its stake in United Technologies by 3.9% during the second quarter. Doyle Wealth Management now owns 56,784 shares of the conglomerate’s stock valued at $7,393,000 after purchasing an additional 2,141 shares during the last quarter. Institutional investors and hedge funds own 81.03% of the company’s stock.

UTX has been the topic of a number of recent research reports. William Blair reissued a “hold” rating on shares of United Technologies in a research report on Monday, June 10th. Morgan Stanley boosted their target price on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Cowen raised shares of United Technologies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $150.00 in a research report on Monday, June 24th. Barclays boosted their target price on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Seaport Global Securities raised shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. United Technologies currently has a consensus rating of “Buy” and a consensus price target of $152.21.

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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