SeaTown Holdings Pte. Ltd. Makes New Investment in United Technologies Co. (NYSE:UTX)

SeaTown Holdings Pte. Ltd. acquired a new position in shares of United Technologies Co. (NYSE:UTX) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 50,000 shares of the conglomerate’s stock, valued at approximately $6,510,000. United Technologies accounts for 1.2% of SeaTown Holdings Pte. Ltd.’s holdings, making the stock its 28th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quad Cities Investment Group LLC grew its stake 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 buying 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. Personal Wealth Partners purchased a new position in United Technologies during the 2nd quarter worth $36,000. Ashburton Jersey Ltd acquired a new stake in United Technologies during the 2nd quarter worth about $40,000. Finally, Massey Quick Simon & CO. LLC acquired a new stake in United Technologies during the 1st quarter worth about $47,000. Institutional investors own 81.03% of the company’s stock.

Shares of UTX traded up $0.77 during mid-day trading on Tuesday, hitting $128.79. 168,635 shares of the company’s stock were exchanged, compared to its average volume of 3,281,478. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The stock has a market cap of $111.18 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.86 and a beta of 1.20. The company has a 50 day simple moving average of $131.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping the 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 business had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, 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. Stockholders of record on Friday, August 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.28%. United Technologies’s dividend payout ratio (DPR) is 38.63%.

UTX has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a research report on Wednesday, April 24th. 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 research report on Monday, June 10th. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Friday, June 14th. Morgan Stanley upped their price target on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, William Blair restated a “hold” rating on shares of United Technologies in a research note on Monday, June 10th. Five 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 stock presently has an average rating of “Buy” and a consensus target price of $152.21.

In other news, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction dated 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 $4,186,246.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by corporate 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.

See Also: Coverage Ratio

Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).

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

Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.