Saratoga Research & Investment Management Has $97.67 Million Stake in United Technologies Co. (NYSE:UTX)

Saratoga Research & Investment Management raised its holdings in United Technologies Co. (NYSE:UTX) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 750,144 shares of the conglomerate’s stock after purchasing an additional 24,564 shares during the quarter. United Technologies accounts for 6.1% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 3rd largest position. Saratoga Research & Investment Management owned approximately 0.09% of United Technologies worth $97,669,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in UTX. Confluence Investment Management LLC lifted its position in shares of United Technologies by 1.5% during the 2nd quarter. Confluence Investment Management LLC now owns 351,992 shares of the conglomerate’s stock valued at $45,829,000 after buying an additional 5,289 shares during the last quarter. Sicart Associates LLC purchased a new position in shares of United Technologies during the 2nd quarter valued at $339,000. Arden Trust Co purchased a new position in shares of United Technologies during the 2nd quarter valued at $4,377,000. Nippon Life Global Investors Americas Inc. lifted its position in shares of United Technologies by 60.9% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 83,910 shares of the conglomerate’s stock valued at $10,926,000 after buying an additional 31,760 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of United Technologies by 1,232.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 694,439 shares of the conglomerate’s stock valued at $90,416,000 after buying an additional 642,306 shares during the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.

In related news, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $135.71, for a total transaction of $583,281.58. Following the sale, the executive vice president now owns 30,847 shares of the company’s stock, valued at approximately $4,186,246.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

A number of research analysts have recently commented on the company. 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 research report on Friday, June 14th. Bank of America reaffirmed a “buy” rating and set a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. 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 research report on Monday, June 24th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a research report on Monday, June 10th. Finally, Morgan Stanley upped their price target on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Five investment 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 currently has a consensus rating of “Buy” and a consensus target price of $152.21.

UTX traded down $1.03 during trading on Friday, reaching $130.81. 2,167,188 shares of the company were exchanged, compared to its average volume of 3,058,400. The company has a 50-day simple moving average of $131.32. The stock has a market cap of $115.27 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. The business had revenue of $19.63 billion for 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 firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.97 EPS. Equities analysts predict that United Technologies Co. will post 8.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.25%. United Technologies’s dividend payout ratio (DPR) is 38.63%.

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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