British Airways Pensions Investment Management Ltd purchased a new position in shares of United Technologies Co. (NYSE:UTX) during the 2nd quarter, Holdings Channel reports. The fund purchased 105,999 shares of the conglomerate’s stock, valued at approximately $13,253,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Silvant Capital Management LLC acquired a new stake in shares of United Technologies during the 1st quarter worth about $113,000. Jolley Asset Management LLC acquired a new stake in shares of United Technologies during the 2nd quarter worth about $114,000. WP Advisors LLC acquired a new stake in shares of United Technologies during the 2nd quarter worth about $126,000. Kiley Juergens Wealth Management LLC acquired a new stake in shares of United Technologies during the 2nd quarter worth about $127,000. Finally, Centerpoint Advisors LLC acquired a new stake in shares of United Technologies during the 1st quarter worth about $131,000. Institutional investors and hedge funds own 82.06% of the company’s stock.
In other news, 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 transaction, 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 filing with the SEC, which is accessible through this link. Also, VP Charles D. Gill sold 14,255 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the transaction, 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 sold 18,511 shares of company stock valued at $2,521,974. 0.17% of the stock is currently owned by corporate insiders.
A number of analysts recently issued reports on the company. UBS Group assumed coverage on United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating for the company. 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. Jefferies Financial Group set a $157.00 target price on United Technologies and gave the company a “buy” rating in a research report on Tuesday, July 10th. Finally, Wolfe Research initiated coverage on United Technologies in a research report on Wednesday, June 27th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $146.78.
NYSE UTX opened at $133.52 on Friday. The stock has a market capitalization of $105.37 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.00 and a beta of 1.01. 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.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.12. The company had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. United Technologies’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 EPS. sell-side analysts forecast that United Technologies Co. will post 7.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, August 16th. United Technologies’s dividend payout ratio is currently 42.11%.
About United Technologies
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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