Hillsdale Investment Management Inc. increased its position in United Technologies Co. (NYSE:UTX) by 137.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 865 shares of the conglomerate’s stock after purchasing an additional 500 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in United Technologies were worth $113,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Quad Cities Investment Group LLC boosted its position in United Technologies by 62.1% during the 2nd quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Manchester Financial Inc. bought a new stake in United Technologies during the 2nd quarter valued at $35,000. Personal Wealth Partners bought a new stake in United Technologies during the 2nd quarter valued at $36,000. Ashburton Jersey Ltd bought a new stake in United Technologies during the 2nd quarter valued at $40,000. Finally, AlphaMark Advisors LLC boosted its position in United Technologies by 133.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 350 shares of the conglomerate’s stock valued at $46,000 after acquiring an additional 200 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.
UTX has been the topic of several recent research reports. Morgan Stanley increased their target price on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Seaport Global Securities upgraded United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Monday, June 10th. Cowen upgraded United Technologies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $150.00 in a report on Monday, June 24th. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Friday, June 14th. Finally, William Blair reiterated a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. United Technologies currently has an average rating of “Buy” and a consensus price target of $152.21.
Shares of UTX traded down $0.38 during midday trading on Tuesday, hitting $126.26. 16,587 shares of the company’s stock traded hands, compared to its average volume of 3,299,004. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $144.40. The firm’s fifty day moving average is $131.37 and its 200-day moving average is $130.23. 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 stock has a market capitalization of $107.90 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.16. The company had revenue of $19.63 billion during the quarter, compared to analyst estimates of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $1.97 EPS. On average, equities research analysts anticipate that United Technologies Co. will post 8.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 dividend on an annualized basis and a yield of 2.33%. United Technologies’s dividend payout ratio (DPR) is 38.63%.
In related news, EVP Michael R. Dumais sold 4,329 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $130.98, for a total value of $567,012.42. Following the completion of the transaction, the executive vice president now owns 39,265 shares in the company, valued at approximately $5,142,929.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $135.71, for a total value of $583,281.58. Following the completion of the transaction, the executive vice president now owns 30,847 shares of the company’s stock, valued at approximately $4,186,246.37. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
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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