Tufton Capital Management cut its holdings in United Technologies Co. (NYSE:UTX) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 68,031 shares of the conglomerate’s stock after selling 693 shares during the quarter. United Technologies comprises 1.9% of Tufton Capital Management’s investment portfolio, making the stock its 22nd biggest holding. Tufton Capital Management’s holdings in United Technologies were worth $8,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also bought and sold shares of UTX. Quad Cities Investment Group LLC boosted its stake in shares of United Technologies by 62.1% in the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. Manchester Financial Inc. purchased a new stake in shares of United Technologies in the second quarter valued at approximately $35,000. Ashburton Jersey Ltd purchased a new stake in shares of United Technologies in the second quarter valued at approximately $40,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of United Technologies in the first quarter valued at approximately $47,000. Finally, Sageworth Trust Co purchased a new stake in shares of United Technologies in the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 80.85% of the company’s stock.
UTX traded up $0.45 during trading on Wednesday, reaching $129.25. 237,309 shares of the stock were exchanged, compared to its average volume of 3,135,215. The stock’s 50 day moving average price is $131.62. 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 firm has a market capitalization of $112.87 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $144.40.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping the Zacks’ 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 company had revenue of $19.63 billion for the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the previous year, the business earned $1.97 earnings per share. United Technologies’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities research analysts anticipate that United Technologies Co. will post 8.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend yield of 2.27%. United Technologies’s dividend payout ratio is currently 38.63%.
In other news, EVP Elizabeth B. Amato sold 4,298 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $135.71, for a total value of $583,281.58. Following the sale, the executive vice president now directly 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 can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.
A number of analysts recently weighed in on UTX shares. Barclays lifted their price target on United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Seaport Global Securities upgraded United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Monday, June 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $159.00 target price on shares of United Technologies in a research report on Wednesday, April 24th. Zacks Investment Research downgraded United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price on the stock. in a research report on Friday, July 19th. Finally, Bank of America reiterated a “buy” rating and set a $195.00 target price (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Five equities 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’s stock. The company presently has a consensus rating of “Buy” and an average price target 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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