Capital Planning Advisors LLC lowered its position in shares of United Technologies Co. (NYSE:UTX) by 19.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,491 shares of the conglomerate’s stock after selling 3,747 shares during the period. Capital Planning Advisors LLC’s holdings in United Technologies were worth $1,937,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in UTX. HC Financial Advisors Inc. bought a new stake in shares of United Technologies during the fourth quarter valued at approximately $1,559,000. Global X Management Co. LLC raised its holdings in shares of United Technologies by 12.4% during the first quarter. Global X Management Co. LLC now owns 7,326 shares of the conglomerate’s stock valued at $922,000 after buying an additional 808 shares during the last quarter. FDx Advisors Inc. raised its holdings in shares of United Technologies by 5.8% during the first quarter. FDx Advisors Inc. now owns 20,041 shares of the conglomerate’s stock valued at $2,522,000 after buying an additional 1,099 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of United Technologies by 10.1% during the first quarter. Daiwa Securities Group Inc. now owns 63,924 shares of the conglomerate’s stock valued at $8,042,000 after buying an additional 5,852 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its holdings in shares of United Technologies by 149.7% during the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 88,820 shares of the conglomerate’s stock valued at $11,007,000 after buying an additional 53,244 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on UTX. Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 31st. UBS Group began coverage on United Technologies in a report on Wednesday, August 15th. They set a “buy” rating on the stock. Morgan Stanley began coverage on United Technologies in a report on Friday, June 15th. They set an “overweight” rating and a $160.00 price target on the stock. Wolfe Research began coverage on United Technologies in a report on Wednesday, June 27th. They set an “outperform” rating on the stock. Finally, ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $142.17.
UTX stock opened at $132.59 on Friday. 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. The firm 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 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $16.26 billion. During the same quarter in the previous year, the business earned $1.85 EPS. United Technologies’s quarterly revenue was up 9.3% compared to the same quarter last year. equities 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 dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, August 16th. United Technologies’s payout ratio is presently 42.11%.
In related news, VP Charles D. Gill sold 14,255 shares of United Technologies 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 completion of the sale, the vice president now owns 55,029 shares of the company’s stock, valued at approximately $7,507,606.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akhil Johri sold 3,428 shares of United Technologies stock in a transaction on Thursday, July 26th. The shares were 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 approximately $5,894,995.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,511 shares of company stock valued at $2,521,974. 0.17% of the stock is owned by company insiders.
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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