Papp L Roy & Associates Has $4.45 Million Holdings in United Technologies Corporation (UTX)

Papp L Roy & Associates trimmed its position in shares of United Technologies Corporation (NYSE:UTX) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,476 shares of the conglomerate’s stock after selling 787 shares during the quarter. Papp L Roy & Associates’ holdings in United Technologies Corporation were worth $4,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of UTX. Riggs Asset Managment Co. Inc. boosted its holdings in United Technologies Corporation by 14.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after acquiring an additional 125 shares during the last quarter. Winfield Associates Inc. boosted its holdings in United Technologies Corporation by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after acquiring an additional 29 shares during the last quarter. Alexandria Capital LLC boosted its holdings in United Technologies Corporation by 0.3% during the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after acquiring an additional 3 shares during the last quarter. Paragon Capital Management Ltd purchased a new position in United Technologies Corporation during the 1st quarter worth $139,000. Finally, Exane Derivatives purchased a new position in United Technologies Corporation during the 2nd quarter worth $141,000. 78.78% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of United Technologies Corporation (NYSE UTX) opened at 118.82 on Friday. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The stock has a market cap of $94.91 billion, a price-to-earnings ratio of 18.10 and a beta of 1.05. The firm has a 50-day moving average price of $115.11 and a 200 day moving average price of $118.06.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The business had revenue of $15.28 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, analysts forecast that United Technologies Corporation will post $6.57 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s payout ratio is 42.68%.

UTX has been the topic of a number of analyst reports. Jefferies Group LLC reaffirmed a “buy” rating on shares of United Technologies Corporation in a report on Thursday, July 27th. Credit Suisse Group reissued a “buy” rating and issued a $136.00 price target on shares of United Technologies Corporation in a report on Wednesday, July 26th. Cowen and Company reissued a “buy” rating and issued a $127.00 price target on shares of United Technologies Corporation in a report on Tuesday, July 25th. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Finally, UBS AG boosted their price target on shares of United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $125.27.

United Technologies Corporation Company Profile

United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.

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

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