IFG Advisory LLC Decreases Holdings in United Technologies Co. (NYSE:UTX)

IFG Advisory LLC trimmed its position in shares of United Technologies Co. (NYSE:UTX) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,330 shares of the conglomerate’s stock after selling 430 shares during the period. IFG Advisory LLC’s holdings in United Technologies were worth $2,386,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of UTX. Deprince Race & Zollo Inc. lifted its position in shares of United Technologies by 13.9% in the fourth quarter. Deprince Race & Zollo Inc. now owns 175,715 shares of the conglomerate’s stock valued at $18,710,000 after buying an additional 21,495 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of United Technologies by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,383,674 shares of the conglomerate’s stock valued at $466,759,000 after buying an additional 256,907 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of United Technologies by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after buying an additional 1,293,517 shares during the last quarter. Osher Van de Voorde Investment Management lifted its position in shares of United Technologies by 1.2% in the fourth quarter. Osher Van de Voorde Investment Management now owns 67,861 shares of the conglomerate’s stock valued at $7,226,000 after buying an additional 830 shares during the last quarter. Finally, National Pension Service lifted its position in shares of United Technologies by 16.5% in the fourth quarter. National Pension Service now owns 794,828 shares of the conglomerate’s stock valued at $98,662,000 after buying an additional 112,428 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

A number of analysts have recently issued reports on the company. William Blair reaffirmed a “hold” rating on shares of United Technologies in a research report on Monday, June 10th. Bank of America reaffirmed a “buy” rating and issued a $195.00 price objective (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Zacks Investment Research cut United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a research report on Friday, July 19th. Morgan Stanley raised their price objective on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. United Technologies presently has a consensus rating of “Buy” and an average target price of $152.21.

In related news, EVP Elizabeth B. Amato sold 4,298 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $135.71, for a total transaction of $583,281.58. Following 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 available at this hyperlink. Also, EVP Michael R. Dumais sold 4,329 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $130.98, for a total value of $567,012.42. Following the sale, the executive vice president now owns 39,265 shares in the company, valued at approximately $5,142,929.70. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

NYSE:UTX traded down $2.68 during mid-day trading on Friday, hitting $125.28. 774,320 shares of the stock were exchanged, compared to its average volume of 2,915,187. The stock has a market capitalization of $109.31 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05. The firm’s 50-day simple moving average is $131.10 and its 200 day simple moving average is $130.36. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40.

United Technologies (NYSE:UTX) last announced its quarterly earnings data 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. The firm had revenue of $19.63 billion during the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.97 EPS. On average, analysts predict that United Technologies Co. will post 8.03 EPS for the current fiscal year.

The firm also recently declared 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. The ex-dividend date is Thursday, August 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.35%. United Technologies’s payout ratio is 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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