Securian Asset Management Inc increased its holdings in United Technologies Co. (NYSE:UTX) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,629 shares of the conglomerate’s stock after buying an additional 935 shares during the quarter. Securian Asset Management Inc’s holdings in United Technologies were worth $11,019,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Quad Cities Investment Group LLC lifted its holdings in United Technologies by 62.1% during the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. Manchester Financial Inc. purchased a new position in United Technologies during the second quarter valued at approximately $35,000. Personal Wealth Partners purchased a new position in United Technologies during the second quarter valued at approximately $36,000. Ashburton Jersey Ltd purchased a new position in United Technologies during the second quarter valued at approximately $40,000. Finally, AlphaMark Advisors LLC lifted its holdings in United Technologies by 133.3% during the second quarter. AlphaMark Advisors LLC now owns 350 shares of the conglomerate’s stock valued at $46,000 after purchasing an additional 200 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.
In related news, EVP Elizabeth B. Amato sold 4,298 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $135.71, for a total value of $583,281.58. Following the sale, the executive vice president now owns 30,847 shares in the company, valued at $4,186,246.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael R. Dumais sold 4,329 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $130.98, for a total transaction of $567,012.42. Following the completion of the sale, the executive vice president now owns 39,265 shares in the company, valued at approximately $5,142,929.70. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.
Several equities analysts have weighed in on the stock. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target on the stock. in a report on Friday, July 19th. Cowen raised shares of United Technologies from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $135.00 to $150.00 in a report on Monday, June 24th. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Friday, June 14th. Finally, Morgan Stanley lifted their price target on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $152.21.
Shares of United Technologies stock traded up $0.49 on Tuesday, hitting $127.13. 123,705 shares of the company traded hands, compared to its average volume of 3,299,004. The stock has a market capitalization of $107.90 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $144.40. The business has a 50-day simple moving average of $131.37 and a 200 day simple moving average of $130.23.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.16. The firm had revenue of $19.63 billion for the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 earnings per share. Research analysts expect that United Technologies Co. will post 8.03 earnings per share for the current 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 given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio is presently 38.63%.
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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