United Technologies Co. (NYSE:UTX) Shares Bought by Landmark Bank

Landmark Bank boosted its position in shares of United Technologies Co. (NYSE:UTX) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,387 shares of the conglomerate’s stock after acquiring an additional 115 shares during the period. United Technologies comprises 1.7% of Landmark Bank’s investment portfolio, making the stock its 26th biggest holding. Landmark Bank’s holdings in United Technologies were worth $2,524,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Architects LLC boosted its stake in United Technologies by 4.3% during the 2nd quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock worth $236,000 after purchasing an additional 75 shares during the period. Patten Group Inc. boosted its stake in United Technologies by 0.3% during the 2nd quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock worth $3,643,000 after purchasing an additional 75 shares during the period. Glenview State Bank Trust DEPT. boosted its stake in United Technologies by 3.0% during the 2nd quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock worth $331,000 after purchasing an additional 75 shares during the period. Mcrae Capital Management Inc. boosted its stake in United Technologies by 1.4% during the 2nd quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock worth $715,000 after purchasing an additional 75 shares during the period. Finally, Heritage Way Advisors LLC boosted its stake in United Technologies by 0.4% during the 2nd quarter. Heritage Way Advisors LLC now owns 18,501 shares of the conglomerate’s stock worth $2,409,000 after purchasing an additional 75 shares during the period. Institutional investors own 81.03% of the company’s stock.

UTX has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a research note on Wednesday, April 24th. Barclays upped their price objective on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Cowen upgraded shares of United Technologies from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $135.00 to $150.00 in a research report on Monday, June 24th. Seaport Global Securities upgraded shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a research report on Monday, June 10th. Finally, Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Friday, June 14th. Five equities research 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 has an average rating of “Buy” and an average price target of $152.21.

In related news, EVP Michael R. Dumais sold 4,329 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $130.98, for a total value of $567,012.42. Following the sale, the executive vice president now directly owns 39,265 shares of the company’s stock, valued at approximately $5,142,929.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Shares of UTX traded up $1.81 during trading hours on Friday, reaching $125.55. The company had a trading volume of 104,624 shares, compared to its average volume of 3,250,794. The firm has a 50 day simple moving average of $131.70 and a 200-day simple moving average of $130.32. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $107.65 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.83 and a beta of 1.20. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40.

United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. The business 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%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.97 EPS. Sell-side analysts forecast that United Technologies Co. will post 8.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a $0.735 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.34%. United Technologies’s dividend payout ratio is presently 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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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