Forbes J M & Co. LLP Decreases Stake in United Technologies Co. (NYSE:UTX)

Forbes J M & Co. LLP lowered its position in United Technologies Co. (NYSE:UTX) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,062 shares of the conglomerate’s stock after selling 170 shares during the quarter. Forbes J M & Co. LLP’s holdings in United Technologies were worth $1,570,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of United Technologies by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after acquiring an additional 1,293,517 shares during the period. Norges Bank acquired a new position in shares of United Technologies in the 4th quarter valued at $824,350,000. Fisher Asset Management LLC increased its holdings in shares of United Technologies by 3.4% in the 2nd quarter. Fisher Asset Management LLC now owns 4,610,441 shares of the conglomerate’s stock valued at $600,279,000 after acquiring an additional 151,889 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of United Technologies by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,383,674 shares of the conglomerate’s stock valued at $466,759,000 after acquiring an additional 256,907 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of United Technologies by 170.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock valued at $511,966,000 after acquiring an additional 2,503,654 shares during the period. Institutional investors own 81.03% of the company’s stock.

UTX traded up $0.99 during trading on Friday, hitting $124.73. The stock had a trading volume of 24,770 shares, compared to its average volume of 3,250,794. 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 has a market capitalization of $107.65 billion, a P/E ratio of 16.41, a PEG ratio of 1.83 and a beta of 1.20. The company’s 50-day moving average price is $131.70 and its 200 day moving average price is $130.32. United Technologies Co. has a twelve month low of $100.48 and a twelve month 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 (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.16. The company had revenue of $19.63 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $1.97 EPS. As a group, equities analysts expect that United Technologies Co. will post 8.02 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 yield of 2.36%. United Technologies’s dividend payout ratio is currently 38.63%.

In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $135.71, for a total value of $583,281.58. Following the transaction, the executive vice president now directly owns 30,847 shares of the company’s stock, valued at approximately $4,186,246.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael R. Dumais sold 4,329 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 39,265 shares in the company, valued at $5,142,929.70. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

A number of brokerages have recently commented on UTX. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $159.00 target price on shares of United Technologies in a report on Wednesday, April 24th. Zacks Investment Research cut shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price on the stock. in a report on Friday, July 19th. Bank of America reaffirmed a “buy” rating and issued a $195.00 target price (up from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Finally, Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $152.21.

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

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