United Technologies Co. (NYSE:UTX) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of United Technologies Co. (NYSE:UTX) by 14.2% in the second quarter, Holdings Channel reports. The firm owned 2,257 shares of the conglomerate’s stock after buying an additional 281 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in United Technologies were worth $294,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quad Cities Investment Group LLC increased 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 purchasing an additional 100 shares during the last quarter. Manchester Financial Inc. acquired a new stake in shares of United Technologies during the 2nd quarter worth about $35,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of United Technologies during the 1st quarter worth about $47,000. Sageworth Trust Co acquired a new stake in shares of United Technologies during the 1st quarter worth about $50,000. Finally, Canton Hathaway LLC increased 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 purchasing an additional 344 shares during the last quarter. 80.85% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Elizabeth B. Amato sold 4,298 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 30,847 shares of the company’s stock, valued at $4,186,246.37. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Several research firms have weighed in on UTX. Bank of America reaffirmed a “buy” rating and issued a $195.00 target price (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Vertical Research raised United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Friday, June 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $159.00 target price on shares of United Technologies in a research report on Wednesday, April 24th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a research report on Monday, June 10th. Finally, Cowen raised United Technologies from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $135.00 to $150.00 in a research report on Monday, June 24th. Five equities research 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 presently has an average rating of “Buy” and an average target price of $152.21.

NYSE UTX traded up $0.66 during trading on Tuesday, hitting $126.41. The stock had a trading volume of 123,107 shares, compared to its average volume of 3,135,215. The company has a market capitalization of $109.27 billion, a P/E ratio of 16.63, a PEG ratio of 1.85 and a beta of 1.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. The business’s 50 day moving average is $131.56. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $144.40.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping 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 business had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the previous year, the company posted $1.97 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts forecast that United Technologies Co. will post 8.02 EPS for the current year.

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