SeaTown Holdings Pte. Ltd. purchased a new position in United Technologies Co. (NYSE:UTX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the conglomerate’s stock, valued at approximately $6,510,000. United Technologies accounts for about 1.2% of SeaTown Holdings Pte. Ltd.’s investment portfolio, making the stock its 28th largest position.
A number of other hedge funds have also recently modified their holdings of UTX. Wealth Architects LLC boosted its holdings in United Technologies by 4.3% in the second quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock worth $236,000 after acquiring an additional 75 shares in the last quarter. Patten Group Inc. boosted its holdings in United Technologies by 0.3% in the second quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock worth $3,643,000 after acquiring an additional 75 shares in the last quarter. Glenview State Bank Trust DEPT. boosted its holdings in United Technologies by 3.0% in the second quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock worth $331,000 after acquiring an additional 75 shares in the last quarter. Mcrae Capital Management Inc. boosted its holdings in United Technologies by 1.4% in the second quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock worth $715,000 after acquiring an additional 75 shares in the last quarter. Finally, Heritage Way Advisors LLC boosted its holdings in United Technologies by 0.4% in the second quarter. Heritage Way Advisors LLC now owns 18,501 shares of the conglomerate’s stock worth $2,409,000 after acquiring an additional 75 shares in the last quarter. 81.03% of the stock is currently owned by institutional investors.
UTX traded up $0.77 during midday trading on Tuesday, reaching $128.79. The company had a trading volume of 168,635 shares, compared to its average volume of 3,281,478. 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’s 50-day moving average price is $131.91. The firm has a market capitalization of $111.18 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.86 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.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. The business had revenue of $19.63 billion during the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.97 earnings per share. Research analysts forecast that United Technologies Co. will post 8.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, August 15th. United Technologies’s payout ratio is 38.63%.
UTX has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a report on Wednesday, April 24th. Cowen raised United Technologies from a “market perform” rating to an “outperform” rating and upped their price target for the company from $135.00 to $150.00 in a report on Monday, June 24th. Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price target on the stock in a report on Monday, June 10th. Barclays upped their price target on United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Vertical Research raised United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Friday, June 14th. Five research 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. The company currently has a consensus rating of “Buy” and an average target price of $152.21.
In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 30,847 shares in the company, valued at $4,186,246.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.
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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