Jones Financial Companies Lllp lifted its stake in shares of United Technologies Co. (NYSE:UTX) by 2.0% during the second quarter, HoldingsChannel.com reports. The firm owned 92,693 shares of the conglomerate’s stock after purchasing an additional 1,790 shares during the quarter. Jones Financial Companies Lllp’s holdings in United Technologies were worth $12,069,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC lifted its position in shares of United Technologies by 62.1% during the 2nd quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Manchester Financial Inc. acquired a new position in United Technologies in the second quarter valued at $35,000. Personal Wealth Partners acquired a new position in United Technologies in the second quarter valued at $36,000. Ashburton Jersey Ltd acquired a new position in United Technologies in the second quarter valued at $40,000. Finally, AlphaMark Advisors LLC increased its stake in shares of United Technologies by 133.3% during the second quarter. AlphaMark Advisors LLC now owns 350 shares of the conglomerate’s stock worth $46,000 after acquiring an additional 200 shares during the period. Institutional investors own 81.03% of the company’s stock.
In related news, EVP Michael R. Dumais sold 4,329 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $130.98, for a total value of $567,012.42. Following the sale, the executive vice president now directly owns 39,265 shares of the company’s stock, valued at $5,142,929.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $135.71, for a total value of $583,281.58. Following the completion of the sale, the executive vice president now directly owns 30,847 shares in the company, valued at $4,186,246.37. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.
Shares of UTX traded up $1.31 on Friday, hitting $125.05. The company’s stock had a trading volume of 2,507,500 shares, compared to its average volume of 3,281,953. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average price is $131.64 and its 200-day moving average price is $130.30. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The firm has a market capitalization of $107.25 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.76 and a beta of 1.20.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The firm had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same quarter in the prior year, the firm posted $1.97 EPS. The business’s revenue was up 17.5% on a year-over-year basis. As a group, equities analysts predict that United Technologies Co. will post 8.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, August 15th. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.
A number of analysts recently commented on the stock. Bank of America reissued a “buy” rating and set a $195.00 price objective (up previously from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Morgan Stanley upped their price target on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price for the company. in a research note on Friday, July 19th. Cowen upgraded shares of United Technologies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $150.00 in a research note on Monday, June 24th. Finally, Seaport Global Securities upgraded shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price target on the stock in a research report on Monday, June 10th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. United Technologies presently has an average rating of “Buy” and an average price target of $152.21.
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.
Further Reading: Hold Rating
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