Insider Selling: Louis Chenevert Sells 24,979 Shares of United Technologies Stock (UTX)

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United Technologies (NYSE:UTX) CEO Louis Chenevert unloaded 24,979 shares of the company’s stock on the open market in a transaction dated Monday, June 9th. The stock was sold at an average price of $119.00, for a total value of $2,972,501.00. Following the completion of the sale, the chief executive officer now directly owns 2,400 shares in the company, valued at approximately $285,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of United Technologies in a research note on Thursday, April 24th. They now have a $126.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of United Technologies in a research note on Wednesday, April 23rd. They now have a $125.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of United Technologies in a research note on Wednesday, April 23rd. They now have a $127.00 price target on the stock. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $125.26.

Shares of United Technologies (NYSE:UTX) traded down 0.55% during mid-day trading on Wednesday, hitting $118.47. The stock had a trading volume of 908,679 shares. United Technologies has a one year low of $90.30 and a one year high of $120.66. The stock’s 50-day moving average is $117.0 and its 200-day moving average is $114.. The company has a market cap of $108.6 billion and a P/E ratio of 19.27.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, April 22nd. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.27 by $0.05. The company had revenue of $14.75 billion for the quarter, compared to the consensus estimate of $14.74 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that United Technologies will post $6.85 EPS for the current fiscal year.

United Technologies Corporation (NYSE:UTX) provides high technology products and services to the building systems and aerospace industries worldwide.

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