Whittier Trust Co. Sells 296 Shares of United Technologies Co. (NYSE:UTX)

Whittier Trust Co. lessened its stake in shares of United Technologies Co. (NYSE:UTX) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,910 shares of the conglomerate’s stock after selling 296 shares during the quarter. Whittier Trust Co.’s holdings in United Technologies were worth $8,841,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in UTX. Wealth Architects LLC lifted its position in United Technologies by 4.3% in the 2nd quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock valued at $236,000 after acquiring an additional 75 shares in the last quarter. Patten Group Inc. lifted its position in United Technologies by 0.3% in the 2nd quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock valued at $3,643,000 after acquiring an additional 75 shares in the last quarter. Addenda Capital Inc. lifted its position in United Technologies by 0.7% in the 1st quarter. Addenda Capital Inc. now owns 11,912 shares of the conglomerate’s stock valued at $1,535,000 after acquiring an additional 87 shares in the last quarter. OLD National Bancorp IN lifted its position in United Technologies by 0.3% in the 2nd quarter. OLD National Bancorp IN now owns 31,084 shares of the conglomerate’s stock valued at $4,048,000 after acquiring an additional 87 shares in the last quarter. Finally, Orrstown Financial Services Inc. lifted its position in United Technologies by 20.4% in the 2nd quarter. Orrstown Financial Services Inc. now owns 549 shares of the conglomerate’s stock valued at $72,000 after acquiring an additional 93 shares in the last quarter. 80.79% of the stock is currently owned by institutional investors.

In other news, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $135.71, for a total transaction of $583,281.58. Following the completion of the sale, the executive vice president now owns 30,847 shares in the company, valued at approximately $4,186,246.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

Several equities analysts recently weighed in on UTX shares. Morgan Stanley raised their price target on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Barclays lifted their target price on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $159.00 target price on shares of United Technologies in a research report on Wednesday, April 24th. Bank of America reissued a “buy” rating and set a $195.00 target price (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Finally, Zacks Investment Research cut shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price on the stock. in a research report on Friday, July 19th. Five 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 presently has an average rating of “Buy” and an average target price of $152.21.

Shares of UTX stock traded down $1.98 during trading hours on Friday, hitting $129.86. 1,060,429 shares of the company were exchanged, compared to its average volume of 2,991,974. The company’s fifty day moving average price is $131.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.40. The firm has a market cap of $116.74 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company had revenue of $19.63 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same quarter last year, the business posted $1.97 EPS. United Technologies’s quarterly revenue was up 17.5% compared to the same quarter last year. 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. Stockholders of record on Friday, August 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.26%. United Technologies’s payout ratio is currently 38.63%.

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

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