Pettyjohn Wood & White Inc. reduced its stake in shares of United Technologies Co. (NYSE:UTX) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,797 shares of the conglomerate’s stock after selling 1,375 shares during the quarter. United Technologies accounts for approximately 1.8% of Pettyjohn Wood & White Inc.’s portfolio, making the stock its 19th largest holding. Pettyjohn Wood & White Inc.’s holdings in United Technologies were worth $5,702,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Quad Cities Investment Group LLC boosted its holdings in shares of United Technologies by 62.1% during the second 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 period. Manchester Financial Inc. purchased a new stake in shares of United Technologies during the second quarter worth about $35,000. Personal Wealth Partners purchased a new stake in shares of United Technologies during the second quarter worth about $36,000. Ashburton Jersey Ltd purchased a new stake in shares of United Technologies during the second quarter worth about $40,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in shares of United Technologies during the first quarter worth about $47,000. 81.03% of the stock is currently owned by hedge funds and other institutional investors.
In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 30,847 shares of the company’s stock, valued at $4,186,246.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael R. Dumais sold 4,329 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $130.98, for a total transaction of $567,012.42. Following the transaction, the executive vice president now directly owns 39,265 shares of the company’s stock, valued at approximately $5,142,929.70. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
UTX has been the subject of a number of analyst reports. William Blair reiterated a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Friday, June 14th. Seaport Global Securities upgraded shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price for the company in a report on Monday, June 10th. Morgan Stanley increased their target price on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $159.00 target price on shares of United Technologies in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $152.21.
UTX traded up $1.31 on Friday, hitting $125.05. The company had a trading volume of 2,507,500 shares, compared to its average volume of 3,281,953. 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 Co. has a 52-week low of $100.48 and a 52-week high of $144.40. The stock has a fifty day simple moving average of $131.64 and a 200-day simple moving average of $130.30. The firm has a market capitalization of $107.25 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.76 and a beta of 1.20.
United Technologies (NYSE:UTX) last issued its quarterly earnings data 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 business had revenue of $19.63 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same period last year, the business posted $1.97 earnings per share. United Technologies’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities research analysts expect that United Technologies Co. will post 8.03 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 annualized dividend and a yield of 2.35%. 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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