Sand Hill Global Advisors LLC acquired a new position in shares of United Technologies Co. (NYSE:UTX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,196 shares of the conglomerate’s stock, valued at approximately $400,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Silvant Capital Management LLC purchased a new position in shares of United Technologies during the 1st quarter valued at approximately $113,000. Jolley Asset Management LLC purchased a new position in shares of United Technologies during the 2nd quarter valued at approximately $114,000. WP Advisors LLC purchased a new position in shares of United Technologies during the 2nd quarter valued at approximately $126,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of United Technologies during the 2nd quarter valued at approximately $127,000. Finally, Centerpoint Advisors LLC purchased a new position in shares of United Technologies during the 1st quarter valued at approximately $131,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Robert J. Bailey sold 828 shares of United Technologies stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total transaction of $111,573.00. Following the transaction, the vice president now owns 2,000 shares in the company, valued at approximately $269,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akhil Johri sold 3,428 shares of United Technologies stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $135.82, for a total value of $465,590.96. Following the transaction, the chief financial officer now owns 43,403 shares in the company, valued at approximately $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 in the last 90 days. 0.17% of the stock is currently owned by insiders.
Shares of UTX stock opened at $133.52 on Friday. 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 firm has a market capitalization of $106.24 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 2.02 and a beta of 1.01. United Technologies Co. has a fifty-two week low of $109.10 and a fifty-two week high of $139.24.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.12. The company had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 EPS. sell-side analysts expect that United Technologies Co. will post 7.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.10%. United Technologies’s payout ratio is currently 42.11%.
A number of brokerages have recently issued reports on UTX. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. UBS Group began coverage on United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. 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, Morgan Stanley initiated coverage on United Technologies in a research report on Friday, June 15th. They set an “overweight” rating and a $160.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $146.78.
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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