Toronto Dominion Bank lowered its position in United Technologies Co. (NYSE:UTX) by 10.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 549,271 shares of the conglomerate’s stock after selling 65,990 shares during the period. Toronto Dominion Bank’s holdings in United Technologies were worth $71,496,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CapWealth Advisors LLC boosted its holdings in shares of United Technologies by 0.7% during the 2nd quarter. CapWealth Advisors LLC now owns 94,219 shares of the conglomerate’s stock worth $12,267,000 after purchasing an additional 625 shares during the last quarter. Ostrum Asset Management grew its position in United Technologies by 4.5% in the second quarter. Ostrum Asset Management now owns 102,670 shares of the conglomerate’s stock valued at $13,368,000 after acquiring an additional 4,430 shares during the period. Cibc World Markets Corp lifted its holdings in shares of United Technologies by 21.0% during the second quarter. Cibc World Markets Corp now owns 287,595 shares of the conglomerate’s stock valued at $37,445,000 after acquiring an additional 49,972 shares during the period. Pinnacle Financial Partners Inc. boosted its stake in shares of United Technologies by 3.9% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 45,253 shares of the conglomerate’s stock valued at $5,892,000 after purchasing an additional 1,691 shares in the last quarter. Finally, Sandbar Asset Management LLP increased its position in shares of United Technologies by 12.4% during the 2nd quarter. Sandbar Asset Management LLP now owns 79,327 shares of the conglomerate’s stock worth $10,328,000 after purchasing an additional 8,722 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.
UTX stock traded up $1.31 during midday trading on Wednesday, reaching $135.22. The company’s stock had a trading volume of 1,520,310 shares, compared to its average volume of 2,401,246. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $144.40. The stock has a market cap of $115.55 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. 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’s 50-day simple moving average is $130.04 and its 200-day simple moving average is $130.87.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, beating the consensus estimate of $2.04 by $0.16. The company had revenue of $19.63 billion during 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%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 EPS. As a group, equities analysts forecast that United Technologies Co. will post 8.03 earnings per share for the current fiscal year.
UTX has been the topic of several research analyst reports. Barclays increased their target price on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Friday, June 14th. Bank of America restated a “buy” rating and issued a $195.00 price objective (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price for the company. in a research note on Friday, July 19th. Finally, William Blair reiterated a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $152.21.
In other United Technologies news, VP Robert J. Bailey sold 831 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $135.09, for a total value of $112,259.79. Following the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $270,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert F. Leduc sold 5,025 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $134.06, for a total value of $673,651.50. Following the completion of the transaction, the insider now directly owns 91,028 shares in the company, valued at approximately $12,203,213.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,567 shares of company stock valued at $8,030,281. 0.15% of the stock is owned by insiders.
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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