ZWJ Investment Counsel Inc. lowered its holdings in shares of United Technologies Co. (NYSE:UTX) by 6.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,859 shares of the conglomerate’s stock after selling 2,675 shares during the period. ZWJ Investment Counsel Inc.’s holdings in United Technologies were worth $4,929,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quad Cities Investment Group LLC grew its stake in United Technologies by 62.1% during the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 100 shares during the period. Manchester Financial Inc. bought a new position in United Technologies in the second quarter worth approximately $35,000. Massey Quick Simon & CO. LLC bought a new position in United Technologies in the first quarter worth approximately $47,000. Sageworth Trust Co bought a new position in United Technologies in the first quarter worth approximately $50,000. Finally, Canton Hathaway LLC boosted its holdings in United Technologies by 625.5% in the first quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 344 shares in the last quarter. 80.79% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on the company. Zacks Investment Research lowered United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target on the stock. in a report on Friday, July 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $159.00 price target on shares of United Technologies in a report on Wednesday, April 24th. William Blair reiterated a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Cowen upgraded United Technologies from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $135.00 to $150.00 in a report on Monday, June 24th. Finally, Morgan Stanley increased their price target on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $152.21.
Shares of UTX stock traded down $1.03 during trading hours on Friday, reaching $130.81. The company had a trading volume of 2,167,188 shares, compared to its average volume of 3,204,201. United Technologies Co. has a 12 month low of $100.48 and a 12 month high of $144.40. 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 firm has a fifty day moving average of $131.32. The company has a market capitalization of $113.76 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 analyst estimates of $19.58 billion. During the same quarter last year, the company earned $1.97 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. As a group, equities research analysts predict that United Technologies Co. will post 8.02 earnings per share for the current year.
The firm also recently declared 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 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 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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