Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of United Technologies Co. (NYSE:UTX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 77,889 shares of the conglomerate’s stock, valued at approximately $9,738,000.
A number of other hedge funds have also recently made changes to their positions in UTX. Silvant Capital Management LLC acquired a new position in shares of United Technologies in the 1st quarter valued at $113,000. Jolley Asset Management LLC acquired a new position in shares of United Technologies in the 2nd quarter valued at $114,000. WP Advisors LLC acquired a new position in shares of United Technologies in the 2nd quarter valued at $126,000. Kiley Juergens Wealth Management LLC acquired a new position in shares of United Technologies in the 2nd quarter valued at $127,000. Finally, Centerpoint Advisors LLC acquired a new position in shares of United Technologies in the 1st quarter valued at $131,000. 81.77% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Akhil Johri sold 6,259 shares of the stock in a transaction dated Tuesday, May 22nd. The stock was 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 directly owns 47,088 shares of the company’s stock, valued at approximately $6,041,390.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert J. Bailey sold 828 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total value of $111,573.00. Following the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at $269,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,470 shares of company stock valued at $4,571,162. Company insiders own 0.17% of the company’s stock.
Shares of United Technologies stock opened at $134.44 on Friday. The stock has a market capitalization of $106.49 billion, a P/E ratio of 20.22, a price-to-earnings-growth 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 Co. has a 1 year low of $109.10 and a 1 year high of $139.24.
United Technologies (NYSE:UTX) last announced 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 firm had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.85 EPS. research analysts forecast that United Technologies Co. will post 7.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, August 16th. United Technologies’s dividend payout ratio is currently 42.11%.
A number of research firms recently weighed in on UTX. UBS Group began coverage on United Technologies in a research report on Wednesday. They issued a “buy” rating for the company. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $143.00 price target for the company in a research report on Tuesday, May 22nd. ValuEngine lowered United Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Wolfe Research began coverage on United Technologies in a research report on Wednesday, June 27th. They issued an “outperform” rating for the company. Finally, Morgan Stanley began coverage on United Technologies in a research report on Friday, June 15th. They issued an “overweight” rating and a $160.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. United Technologies has an average rating of “Buy” and an average target price of $142.17.
United Technologies Company Profile
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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