Los Angeles Capital Management & Equity Research Inc. Sells 14,319 Shares of United Technologies Co. (NYSE:UTX)

Los Angeles Capital Management & Equity Research Inc. reduced its stake in United Technologies Co. (NYSE:UTX) by 7.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 175,407 shares of the conglomerate’s stock after selling 14,319 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in United Technologies were worth $22,838,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in UTX. Wealth Architects LLC increased its stake in shares of United Technologies by 4.3% during the second quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock valued at $236,000 after purchasing an additional 75 shares in the last quarter. Patten Group Inc. grew its holdings in shares of United Technologies by 0.3% during the second quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock valued at $3,643,000 after buying an additional 75 shares during the last quarter. Glenview State Bank Trust DEPT. grew its holdings in shares of United Technologies by 3.0% during the second quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock valued at $331,000 after buying an additional 75 shares during the last quarter. Mcrae Capital Management Inc. grew its holdings in shares of United Technologies by 1.4% during the second quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock valued at $715,000 after buying an additional 75 shares during the last quarter. Finally, Hanson McClain Inc. grew its holdings in shares of United Technologies by 4.1% during the second quarter. Hanson McClain Inc. now owns 2,079 shares of the conglomerate’s stock valued at $271,000 after buying an additional 82 shares during the last quarter. 80.85% of the stock is owned by institutional investors.

UTX has been the topic of a number of recent analyst reports. 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 report on Monday, June 10th. Barclays raised their target price on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. William Blair restated a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a research note on Wednesday, April 24th. Finally, Morgan Stanley lifted their price target on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. United Technologies has a consensus rating of “Buy” and an average target price of $152.21.

Shares of UTX stock traded down $0.24 during trading hours on Friday, reaching $131.24. 2,287,640 shares of the stock were exchanged, compared to its average volume of 3,323,050. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. The stock’s 50-day moving average is $131.83. The company has a market cap of $113.45 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.86 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 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. The firm had revenue of $19.63 billion during 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 firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.97 EPS. Equities research analysts anticipate that United Technologies Co. will post 8.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a $0.735 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.94 annualized dividend and a yield of 2.24%. United Technologies’s dividend payout ratio (DPR) is 38.63%.

In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of the business’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 of the company’s stock, valued at approximately $4,186,246.37. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.15% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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