Professional Advisory Services Inc. cut its position in United Technologies Co. (NYSE:UTX) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,520 shares of the conglomerate’s stock after selling 1,837 shares during the quarter. United Technologies accounts for 2.8% of Professional Advisory Services Inc.’s holdings, making the stock its 21st largest holding. Professional Advisory Services Inc.’s holdings in United Technologies were worth $14,390,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. M Holdings Securities Inc. boosted its holdings in United Technologies by 11.9% in the first quarter. M Holdings Securities Inc. now owns 65,283 shares of the conglomerate’s stock valued at $8,414,000 after purchasing an additional 6,946 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in United Technologies by 0.6% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 49,490 shares of the conglomerate’s stock worth $6,444,000 after buying an additional 295 shares during the last quarter. BTR Capital Management Inc. lifted its holdings in United Technologies by 1.6% during the 2nd quarter. BTR Capital Management Inc. now owns 87,006 shares of the conglomerate’s stock worth $11,328,000 after buying an additional 1,398 shares during the last quarter. Headinvest LLC lifted its holdings in United Technologies by 264.6% during the 4th quarter. Headinvest LLC now owns 48,202 shares of the conglomerate’s stock worth $5,133,000 after buying an additional 34,980 shares during the last quarter. Finally, J.P. Marvel Investment Advisors LLC lifted its holdings in United Technologies by 5.3% during the 1st quarter. J.P. Marvel Investment Advisors LLC now owns 36,223 shares of the conglomerate’s stock worth $4,669,000 after buying an additional 1,810 shares during the last quarter. 80.85% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on UTX shares. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Vertical Research raised United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Friday, June 14th. Morgan Stanley lifted their price target on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Zacks Investment Research downgraded United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target for the company. in a report on Friday, July 19th. Finally, Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price target for the company in a report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $152.21.
Shares of United Technologies stock traded down $0.24 on Friday, hitting $131.24. The stock had a trading volume of 2,287,640 shares, compared to its average volume of 3,311,144. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.40. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. The firm has a market cap of $111.31 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 1.83 and a beta of 1.20. The business has a 50 day moving average price of $131.83.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the previous year, the business earned $1.97 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, research analysts predict that United Technologies Co. will post 8.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, August 15th. United Technologies’s payout ratio is currently 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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