Swiss National Bank decreased its holdings in United Technologies Co. (NYSE:UTX) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,668,152 shares of the conglomerate’s stock after selling 68,400 shares during the quarter. Swiss National Bank owned 0.31% of United Technologies worth $347,393,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in United Technologies by 5.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 577,390 shares of the conglomerate’s stock worth $75,176,000 after purchasing an additional 27,984 shares during the period. Boys Arnold & Co. Inc. boosted its stake in United Technologies by 57.3% in the 2nd quarter. Boys Arnold & Co. Inc. now owns 109,534 shares of the conglomerate’s stock worth $14,261,000 after purchasing an additional 39,920 shares during the period. Candriam Luxembourg S.C.A. acquired a new position in United Technologies in the 2nd quarter worth approximately $7,457,000. Parsons Capital Management Inc. RI boosted its stake in United Technologies by 1.2% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 43,773 shares of the conglomerate’s stock worth $5,699,000 after purchasing an additional 498 shares during the period. Finally, Sigma Planning Corp boosted its stake in United Technologies by 18.9% in the 2nd quarter. Sigma Planning Corp now owns 14,441 shares of the conglomerate’s stock worth $1,880,000 after purchasing an additional 2,297 shares during the period. Hedge funds and other institutional investors own 81.03% of the company’s stock.
Shares of NYSE:UTX traded up $1.61 during trading on Friday, reaching $125.35. 94,431 shares of the company traded hands, compared to its average volume of 3,250,794. The firm has a fifty day simple moving average of $131.70 and a 200 day simple moving average of $130.32. The firm has a market cap of $107.65 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 1.83 and a beta of 1.20. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.40. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio (DPR) is currently 38.63%.
In related 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 value of $583,281.58. Following the completion of the sale, the executive vice president now owns 30,847 shares of the company’s stock, valued at approximately $4,186,246.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael R. Dumais sold 4,329 shares of United Technologies 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 sale, 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.
A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a research note on Friday, July 19th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a research note on Monday, June 10th. Cowen raised shares of United Technologies from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $135.00 to $150.00 in a research note on Monday, June 24th. Vertical Research raised 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 note on Friday, June 14th. Finally, Morgan Stanley raised their price objective on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. United Technologies presently has an average 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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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