United Technologies Co. (UTX) Sees Large Increase in Short Interest

United Technologies Co. (NYSE:UTX) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 17,841,113 shares, an increase of 22.8% from the July 13th total of 14,525,557 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily trading volume, of 4,547,589 shares, the short-interest ratio is presently 3.9 days.

In related news, CFO Akhil Johri sold 6,259 shares of United Technologies stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $128.30, for a total value of $803,029.70. Following the completion of the sale, the chief financial officer now owns 47,088 shares in the company, valued at $6,041,390.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 828 shares of United Technologies stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total transaction of $111,573.00. Following the completion of the sale, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $269,500. 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. Insiders own 0.17% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Credit Agricole S A lifted its holdings in United Technologies by 101.4% in the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after purchasing an additional 436 shares during the period. Silvant Capital Management LLC acquired a new stake in United Technologies in the first quarter worth about $113,000. Jolley Asset Management LLC acquired a new stake in United Technologies in the second quarter worth about $114,000. Fort L.P. acquired a new stake in United Technologies in the second quarter worth about $120,000. Finally, WP Advisors LLC acquired a new stake in United Technologies in the second quarter worth about $126,000. 81.77% of the stock is owned by institutional investors.



UTX has been the subject of several recent research reports. Morgan Stanley initiated coverage on shares of United Technologies in a research note on Friday, June 15th. They set an “overweight” rating and a $160.00 target price for the company. Jefferies Financial Group set a $157.00 target price on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, July 10th. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. Daiwa Capital Markets upgraded shares of United Technologies from a “hold” rating to an “outperform” rating in a research note on Tuesday, May 8th. Finally, Wolfe Research initiated coverage on shares of United Technologies in a research note on Wednesday, June 27th. They set an “outperform” rating for the company. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $142.17.

Shares of UTX opened at $132.42 on Wednesday. United Technologies has a 1 year low of $109.10 and a 1 year high of $139.24. The firm has a market cap of $106.49 billion, a PE ratio of 19.91, a PEG ratio of 2.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.10.

United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The company had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. analysts anticipate that United Technologies will post 7.22 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, August 16th. United Technologies’s dividend payout ratio (DPR) is 42.11%.

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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