Dempze Nancy E raised its position in shares of United Technologies Co. (NYSE:UTX) by 1.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 22,075 shares of the conglomerate’s stock after purchasing an additional 329 shares during the quarter. United Technologies makes up approximately 3.3% of Dempze Nancy E’s investment portfolio, making the stock its 9th largest holding. Dempze Nancy E’s holdings in United Technologies were worth $2,874,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Quad Cities Investment Group LLC grew its position in shares of United Technologies by 62.1% during the 2nd quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after buying an additional 100 shares during the period. Manchester Financial Inc. acquired a new stake in shares of United Technologies during the 2nd quarter worth approximately $35,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of United Technologies during the 1st quarter worth approximately $47,000. Sageworth Trust Co acquired a new stake in shares of United Technologies during the 1st quarter worth approximately $50,000. Finally, Canton Hathaway LLC grew its position in shares of United Technologies by 625.5% during the 1st quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock worth $51,000 after buying an additional 344 shares during the period. 80.79% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Elizabeth B. Amato sold 4,298 shares of the 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 transaction, the executive vice president now directly 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 through the SEC website. 0.15% of the stock is owned by company insiders.
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 analysts’ consensus estimates of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The company had revenue of $19.63 billion for the quarter, compared to analysts’ expectations of $19.58 billion. During the same period last year, the business earned $1.97 EPS. United Technologies’s quarterly revenue was up 17.5% compared to the same quarter last year. Sell-side analysts expect that United Technologies Co. will post 8.02 earnings per share for the current fiscal 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 issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio is currently 38.63%.
Several brokerages have recently commented on UTX. Bank of America reaffirmed a “buy” rating and set a $195.00 price objective (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $159.00 price objective on shares of United Technologies in a research report on Wednesday, April 24th. Cowen raised shares of United Technologies from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $135.00 to $150.00 in a research report on Monday, June 24th. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Friday, June 14th. Finally, Morgan Stanley raised their price objective on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. 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. United Technologies presently has an average rating of “Buy” and a consensus target price of $152.21.
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.
Further Reading: Why do analysts give a neutral rating?
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