Investment Management of Virginia LLC grew its stake in United Technologies Co. (NYSE:UTX) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,100 shares of the conglomerate’s stock after buying an additional 591 shares during the period. Investment Management of Virginia LLC’s holdings in United Technologies were worth $3,138,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. BTR Capital Management Inc. boosted its stake in shares of United Technologies by 0.4% in the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock valued at $11,516,000 after purchasing an additional 375 shares in the last quarter. Squar Milner Financial Services LLC boosted its stake in shares of United Technologies by 13.5% in the 2nd quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock valued at $418,000 after purchasing an additional 397 shares in the last quarter. FCG Advisors LLC boosted its stake in shares of United Technologies by 12.3% in the 2nd quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock valued at $460,000 after purchasing an additional 403 shares in the last quarter. MEMBERS Trust Co boosted its stake in shares of United Technologies by 8.9% in the 4th quarter. MEMBERS Trust Co now owns 4,977 shares of the conglomerate’s stock valued at $635,000 after purchasing an additional 405 shares in the last quarter. Finally, Wells Trecaso Financial Group LLC boosted its stake in shares of United Technologies by 1.3% in the 2nd quarter. Wells Trecaso Financial Group LLC now owns 30,618 shares of the conglomerate’s stock valued at $3,828,000 after purchasing an additional 405 shares in the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.
NYSE:UTX opened at $135.98 on Wednesday. United Technologies Co. has a 52 week low of $109.10 and a 52 week high of $139.24. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.10. The firm has a market cap of $107.56 billion, a P/E ratio of 20.45, a PEG ratio of 2.04 and a beta of 1.05.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, beating the Zacks’ 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 analyst estimates of $16.26 billion. During the same period in the prior year, the business posted $1.85 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. equities research analysts expect that United Technologies Co. will post 7.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, August 16th. This represents a $2.80 annualized dividend and a yield of 2.06%. United Technologies’s dividend payout ratio (DPR) is presently 42.11%.
In other United Technologies news, CFO Akhil Johri sold 3,428 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total value of $465,590.96. Following the completion of the transaction, the chief financial officer now directly owns 43,403 shares in the company, valued at approximately $5,894,995.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 828 shares of the company’s 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 transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $269,500. The disclosure for this sale can be found here. Insiders sold a total of 18,511 shares of company stock valued at $2,521,974 over the last 90 days. Company insiders own 0.17% of the company’s stock.
A number of equities research analysts recently commented on UTX shares. Morgan Stanley started coverage on shares of United Technologies in a report on Friday, June 15th. They set an “overweight” rating and a $160.00 price target for the company. Jefferies Financial Group set a $157.00 price target on shares of United Technologies and gave the company a “buy” rating in a report on Tuesday, July 10th. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, April 26th. Daiwa Capital Markets upgraded shares of United Technologies from a “hold” rating to an “outperform” rating in a report on Tuesday, May 8th. Finally, Wolfe Research started coverage on shares of United Technologies in a report on Wednesday, June 27th. They set an “outperform” rating for the company. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $142.17.
United Technologies 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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