Ferguson Wellman Capital Management Inc. purchased a new position in United Technologies Co. (NYSE:UTX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 50,412 shares of the conglomerate’s stock, valued at approximately $6,303,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Modera Wealth Management LLC raised its holdings in shares of United Technologies by 101.6% in the second quarter. Modera Wealth Management LLC now owns 3,347 shares of the conglomerate’s stock worth $419,000 after acquiring an additional 1,687 shares during the last quarter. Sawtooth Solutions LLC purchased a new stake in shares of United Technologies in the second quarter valued at $618,000. Integrated Investment Consultants LLC purchased a new stake in shares of United Technologies in the second quarter valued at $197,000. Chartwell Investment Partners LLC purchased a new stake in shares of United Technologies in the second quarter valued at $2,729,000. Finally, Perigon Wealth Management LLC grew its position in shares of United Technologies by 3.8% in the second quarter. Perigon Wealth Management LLC now owns 26,958 shares of the conglomerate’s stock valued at $3,371,000 after purchasing an additional 980 shares during the period. 82.05% of the stock is owned by institutional investors.
In other United Technologies news, VP Robert J. Bailey sold 828 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 2,000 shares of the company’s stock, valued at $269,500. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akhil Johri sold 3,428 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $135.82, for a total value of $465,590.96. Following 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 three months, insiders have sold 18,511 shares of company stock valued at $2,521,974. 0.17% of the stock is owned by company insiders.
UTX stock opened at $132.78 on Thursday. United Technologies Co. has a 12-month low of $109.10 and a 12-month high of $139.24. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.82. The stock has a market cap of $105.37 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.00 and a beta of 1.02.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. During the same quarter in the previous year, the business earned $1.85 earnings per share. The firm’s quarterly 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 year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, August 16th. United Technologies’s dividend payout ratio (DPR) is presently 42.11%.
A number of equities research analysts have recently commented on UTX shares. ValuEngine downgraded United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. UBS Group started coverage on United Technologies in a research report on Wednesday, August 15th. They issued a “buy” rating for the company. Jefferies Financial Group set a $157.00 price objective on United Technologies and gave the company a “buy” rating in a research report on Tuesday, July 10th. Finally, Morgan Stanley started coverage on United Technologies in a research report on Friday, June 15th. They issued an “overweight” rating and a $160.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. United Technologies currently has an average rating of “Buy” and a consensus price target of $143.73.
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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