Ausdal Financial Partners Inc. acquired a new stake in United Technologies Co. (NYSE:UTX) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,821 shares of the conglomerate’s stock, valued at approximately $228,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Silvant Capital Management LLC purchased a new stake in shares of United Technologies during the 1st quarter worth $113,000. Jolley Asset Management LLC purchased a new stake in shares of United Technologies during the 2nd quarter worth $114,000. WP Advisors LLC purchased a new stake in shares of United Technologies during the 2nd quarter worth $126,000. Kiley Juergens Wealth Management LLC purchased a new stake in shares of United Technologies during the 2nd quarter worth $127,000. Finally, Centerpoint Advisors LLC purchased a new stake in shares of United Technologies during the 1st quarter worth $131,000. 82.06% of the stock is currently owned by institutional investors.
In related news, VP Charles D. Gill sold 14,255 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $7,507,606.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akhil Johri sold 3,428 shares of the business’s stock in a transaction dated 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 owns 43,403 shares in the company, valued at $5,894,995.46. The disclosure for this sale can be found here. Insiders sold a total of 18,511 shares of company stock worth $2,521,974 over the last quarter. Insiders own 0.17% of the company’s stock.
United Technologies stock opened at $132.59 on Friday. 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 quick ratio of 1.10 and a current ratio of 1.46. The stock has a market capitalization of $108.30 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, topping 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 business had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. During the same period in the previous year, the firm earned $1.85 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. analysts forecast that United Technologies Co. will post 7.22 EPS for the current fiscal 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 given a $0.70 dividend. The ex-dividend date is Thursday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.11%. United Technologies’s dividend payout ratio is presently 42.11%.
Several brokerages have commented on UTX. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a research report on Wednesday, June 13th. ValuEngine lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. UBS Group began coverage on shares of United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. Finally, Wolfe Research began coverage on shares of United Technologies in a research report on Wednesday, June 27th. They set an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus 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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