United Technologies Co. (NYSE:UTX) Stake Boosted by North American Management Corp

North American Management Corp raised its position in shares of United Technologies Co. (NYSE:UTX) by 0.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 183,161 shares of the conglomerate’s stock after purchasing an additional 1,626 shares during the period. United Technologies accounts for 3.8% of North American Management Corp’s investment portfolio, making the stock its 4th largest holding. North American Management Corp’s holdings in United Technologies were worth $23,848,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Deprince Race & Zollo Inc. lifted its holdings in United Technologies by 13.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 175,715 shares of the conglomerate’s stock worth $18,710,000 after buying an additional 21,495 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in United Technologies by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,383,674 shares of the conglomerate’s stock worth $466,759,000 after buying an additional 256,907 shares in the last quarter. Murphy Pohlad Asset Management LLC acquired a new position in United Technologies during the 4th quarter worth $56,000. Gideon Capital Advisors Inc. acquired a new position in United Technologies during the 4th quarter worth $871,000. Finally, Stifel Financial Corp lifted its holdings in United Technologies by 8.3% during the 4th quarter. Stifel Financial Corp now owns 1,204,263 shares of the conglomerate’s stock worth $128,055,000 after buying an additional 92,785 shares in the last quarter. 80.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of United Technologies stock traded down $0.24 on Friday, hitting $131.24. 2,287,640 shares of the company’s stock traded hands, compared to its average volume of 3,323,050. The firm has a 50-day moving average price of $131.83. The company has a market cap of $113.45 billion, a PE ratio of 17.25, a PEG ratio of 1.86 and a beta of 1.20. United Technologies Co. has a one year low of $100.48 and a one year high of $144.40. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, beating the consensus estimate of $2.04 by $0.16. The company 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 business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 EPS. Research analysts expect that United Technologies Co. will post 8.02 earnings per share for the current year.

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

In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $135.71, for a total transaction of $583,281.58. Following the completion of the sale, the executive vice president now owns 30,847 shares in the company, valued at approximately $4,186,246.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

UTX has been the topic of several research reports. Cowen raised United Technologies from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $135.00 to $150.00 in a report on Monday, June 24th. Bank of America reaffirmed 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. Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Monday, June 10th. Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Friday, June 14th. Finally, Barclays upped their target price on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price 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.

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

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