Wheatland Advisors Inc. lowered its stake in shares of United Technologies Co. (NYSE:UTX) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,100 shares of the conglomerate’s stock after selling 325 shares during the quarter. United Technologies comprises 1.4% of Wheatland Advisors Inc.’s holdings, making the stock its 25th largest holding. Wheatland Advisors Inc.’s holdings in United Technologies were worth $1,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Quad Cities Investment Group LLC raised its stake in 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 during the last quarter. Manchester Financial Inc. purchased a new stake in United Technologies in the second quarter valued at about $35,000. Personal Wealth Partners purchased a new stake in United Technologies in the second quarter valued at about $36,000. Ashburton Jersey Ltd purchased a new stake in United Technologies in the second quarter valued at about $40,000. Finally, AlphaMark Advisors LLC raised its stake in United Technologies by 133.3% in the second quarter. AlphaMark Advisors LLC now owns 350 shares of the conglomerate’s stock valued at $46,000 after buying an additional 200 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.
Several research analysts have recently issued reports on the company. 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 note on Friday, July 19th. William Blair restated a “hold” rating on shares of United Technologies in a research note on Monday, June 10th. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Friday, June 14th. Barclays raised their price objective on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley raised their price objective on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. United Technologies presently has an average rating of “Buy” and an average price target of $152.21.
United Technologies stock traded down $4.54 during midday trading on Friday, hitting $123.42. 2,817,680 shares of the company were exchanged, compared to its average volume of 2,704,417. The firm has a market capitalization of $110.41 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.81 and a beta of 1.20. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The business has a fifty day simple moving average of $130.93 and a two-hundred day simple moving average of $130.39. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping the consensus estimate of $2.04 by $0.16. The firm had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. United Technologies’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $1.97 earnings per share. As a group, equities analysts expect that United Technologies Co. will post 8.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, August 15th. United Technologies’s dividend payout ratio (DPR) is 38.63%.
United Technologies 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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