United Technologies Co. (NYSE:UTX) Shares Purchased by RNC Capital Management LLC

RNC Capital Management LLC increased its position in shares of United Technologies Co. (NYSE:UTX) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,540 shares of the conglomerate’s stock after acquiring an additional 291 shares during the quarter. RNC Capital Management LLC’s holdings in United Technologies were worth $2,154,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC increased its position 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 last quarter. Manchester Financial Inc. acquired a new stake in United Technologies during the second quarter worth about $35,000. Massey Quick Simon & CO. LLC acquired a new stake in United Technologies during the first quarter worth about $47,000. Sageworth Trust Co purchased a new position in United Technologies during the first quarter worth about $50,000. Finally, Canton Hathaway LLC boosted its stake in United Technologies by 625.5% during the first 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. Hedge funds and other institutional investors own 80.85% of the company’s stock.

Several research analysts have weighed in on UTX shares. Cowen raised shares of United Technologies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $135.00 to $150.00 in a research note 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 note on Friday, June 14th. William Blair reissued a “hold” rating on shares of United Technologies in a research note on Monday, June 10th. Zacks Investment Research lowered shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a research note on Friday, July 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $159.00 price objective on shares of United Technologies in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. United Technologies presently has a consensus rating of “Buy” and an average target price of $152.21.

In other news, EVP Elizabeth B. Amato sold 4,298 shares of United Technologies stock in a transaction on Monday, July 29th. The shares were 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 of the company’s stock, valued at approximately $4,186,246.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

UTX stock traded down $4.88 during midday trading on Monday, reaching $125.93. 1,398,255 shares of the company were exchanged, compared to its average volume of 3,204,201. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.40. The company’s 50-day moving average price is $131.32. The company has a market capitalization of $112.87 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.33%. United Technologies’s payout ratio 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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