180 Wealth Advisors LLC grew its holdings in shares of United Technologies Co. (NYSE:UTX) by 46.9% in the second quarter, HoldingsChannel.com reports. The fund owned 18,047 shares of the conglomerate’s stock after buying an additional 5,759 shares during the period. United Technologies makes up about 1.1% of 180 Wealth Advisors LLC’s portfolio, making the stock its 14th largest holding. 180 Wealth Advisors LLC’s holdings in United Technologies were worth $2,256,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in UTX. Silvant Capital Management LLC acquired a new stake in shares of United Technologies in the first quarter valued at $113,000. Jolley Asset Management LLC acquired a new stake in shares of United Technologies in the second quarter valued at $114,000. WP Advisors LLC acquired a new stake in shares of United Technologies in the second quarter valued at $126,000. Kiley Juergens Wealth Management LLC acquired a new stake in shares of United Technologies in the second quarter valued at $127,000. Finally, Centerpoint Advisors LLC acquired a new stake in shares of United Technologies in the first quarter valued at $131,000. Institutional investors own 82.06% of the company’s stock.
Several analysts have recently weighed in on UTX shares. Morgan Stanley started coverage on United Technologies in a report on Friday, June 15th. They issued an “overweight” rating and a $160.00 price objective for the company. Jefferies Financial Group set a $157.00 price objective on United Technologies and gave the company a “buy” rating in a report on Tuesday, July 10th. Daiwa Capital Markets upgraded United Technologies from a “hold” rating to an “outperform” rating in a report on Tuesday, May 8th. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Finally, Wolfe Research started coverage on United Technologies in a report on Wednesday, June 27th. They issued an “outperform” rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. United Technologies currently has an average rating of “Buy” and a consensus target price of $142.17.
In other news, CFO Akhil Johri sold 3,428 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $135.82, for a total transaction of $465,590.96. Following the completion of the sale, the chief financial officer now directly owns 43,403 shares of the company’s stock, valued at $5,894,995.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Charles D. Gill sold 14,255 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total value of $1,944,809.65. Following the sale, the vice president now directly owns 55,029 shares of the company’s stock, valued at $7,507,606.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,511 shares of company stock valued at $2,521,974. 0.17% of the stock is currently owned by company insiders.
Shares of NYSE UTX opened at $133.62 on Thursday. United Technologies Co. has a 12 month low of $109.10 and a 12 month high of $139.24. The firm has a market cap of $106.70 billion, a PE ratio of 20.09, a P/E/G ratio of 2.03 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 earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, beating the consensus estimate of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The business had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. During the same period in the prior year, the business posted $1.85 earnings per share. United Technologies’s revenue was up 9.3% compared to the same quarter last year. research analysts anticipate that United Technologies Co. will post 7.22 earnings per share for the current fiscal year.
The business also recently announced 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 2.10%. The ex-dividend date of this dividend is Thursday, August 16th. United Technologies’s dividend payout ratio is 42.11%.
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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