V Wealth Advisors LLC Boosts Holdings in United Technologies Co. (NYSE:UTX)

V Wealth Advisors LLC lifted its stake in United Technologies Co. (NYSE:UTX) by 19.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,510 shares of the conglomerate’s stock after buying an additional 582 shares during the period. V Wealth Advisors LLC’s holdings in United Technologies were worth $458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quad Cities Investment Group LLC grew its position in 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. purchased a new position in United Technologies during the 2nd quarter worth $35,000. Ashburton Jersey Ltd purchased a new position in United Technologies during the 2nd quarter worth $40,000. Massey Quick Simon & CO. LLC purchased a new position in United Technologies during the 1st quarter worth $47,000. Finally, Sageworth Trust Co purchased a new position in United Technologies during the 1st quarter worth $50,000. 80.85% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Elizabeth B. Amato sold 4,298 shares of the firm’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 completion of the sale, the executive vice president now owns 30,847 shares in the company, valued at approximately $4,186,246.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Several research analysts have issued reports on UTX shares. Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective on the stock. in a research report on Friday, July 19th. Bank of America reissued a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Barclays raised their price objective on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Friday, June 14th. Finally, William Blair reissued a “hold” rating on shares of United Technologies in a research report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $152.21.

Shares of UTX stock traded down $0.24 during mid-day trading 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 fifty-two week low of $100.48 and a fifty-two week high of $144.40. The firm has a market cap of $111.31 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.83 and a beta of 1.20. 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 company has a 50-day simple moving average of $131.83.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company had revenue of $19.63 billion during the quarter, compared to analysts’ expectations of $19.58 billion. During the same quarter last year, the business earned $1.97 EPS. The business’s revenue was up 17.5% on a year-over-year basis. Research analysts expect that United Technologies Co. will post 8.02 earnings per share 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 paid a $0.735 dividend. 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 dividend payout ratio (DPR) is presently 38.63%.

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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