Whitener Capital Management Inc. Raises Stock Position in United Technologies Co. (NYSE:UTX)

Whitener Capital Management Inc. lifted its stake in shares of United Technologies Co. (NYSE:UTX) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,022 shares of the conglomerate’s stock after acquiring an additional 1,054 shares during the quarter. United Technologies makes up approximately 1.6% of Whitener Capital Management Inc.’s holdings, making the stock its 16th biggest holding. Whitener Capital Management Inc.’s holdings in United Technologies were worth $2,737,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of UTX. Quad Cities Investment Group LLC increased its holdings in United Technologies by 62.1% during 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 period. Manchester Financial Inc. purchased a new position in United Technologies during the second quarter valued at approximately $35,000. Personal Wealth Partners purchased a new position in United Technologies during the second quarter valued at approximately $36,000. Ashburton Jersey Ltd purchased a new position in United Technologies during the second quarter valued at approximately $40,000. Finally, AlphaMark Advisors LLC increased its holdings in United Technologies by 133.3% during 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 period. 81.03% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Elizabeth B. Amato sold 4,298 shares of United Technologies stock in a transaction 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 sale, the executive vice president now directly owns 30,847 shares in the company, valued at $4,186,246.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael R. Dumais sold 4,329 shares of United Technologies stock in a transaction on Friday, August 9th. The stock was sold at an average price of $130.98, for a total transaction of $567,012.42. Following the sale, the executive vice president now owns 39,265 shares of the company’s stock, valued at $5,142,929.70. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

UTX traded up $1.31 during trading on Friday, hitting $125.05. The stock had a trading volume of 2,507,500 shares, compared to its average volume of 3,281,953. The company has a market capitalization of $107.25 billion, a PE ratio of 15.56, a PEG ratio of 1.76 and a beta of 1.20. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $144.40. 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 stock has a 50 day simple moving average of $131.64 and a two-hundred day simple moving average of $130.30.

United Technologies (NYSE:UTX) last announced its earnings results 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 company had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. United Technologies’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm earned $1.97 earnings per share. On average, equities research analysts anticipate that United Technologies Co. will post 8.03 EPS for the current 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 paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.35%. United Technologies’s payout ratio is currently 38.63%.

Several brokerages recently issued reports on UTX. Barclays lifted their price objective on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Friday, June 14th. Morgan Stanley lifted their price objective on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Bank of America restated a “buy” rating and issued a $195.00 target price (up from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Finally, Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price for the company. in a research note on Friday, July 19th. 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. The company presently has an average rating of “Buy” and an average price target of $152.21.

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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