United Technologies Co. (NYSE:UTX) Shares Bought by Watch Point Trust Co

Watch Point Trust Co grew its holdings in shares of United Technologies Co. (NYSE:UTX) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,645 shares of the conglomerate’s stock after purchasing an additional 4,018 shares during the quarter. United Technologies makes up about 2.3% of Watch Point Trust Co’s portfolio, making the stock its 12th biggest holding. Watch Point Trust Co’s holdings in United Technologies were worth $4,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quad Cities Investment Group LLC raised its holdings 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 acquiring an additional 100 shares during the period. Manchester Financial Inc. purchased a new position in shares of United Technologies during the 2nd quarter worth $35,000. Personal Wealth Partners purchased a new position in shares of United Technologies during the 2nd quarter worth $36,000. Ashburton Jersey Ltd purchased a new position in shares of United Technologies during the 2nd quarter worth $40,000. Finally, Massey Quick Simon & CO. LLC purchased a new position in shares of United Technologies during the 1st quarter worth $47,000. 81.03% of the stock is currently owned by 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. Also, EVP Michael R. Dumais sold 4,329 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $130.98, for a total value of $567,012.42. Following the transaction, the executive vice president now directly owns 39,265 shares of the company’s stock, valued at $5,142,929.70. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Several analysts recently issued reports on the stock. Bank of America restated a “buy” rating and issued a $195.00 price objective (up from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Friday, June 14th. Barclays boosted their price objective on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $159.00 price objective on shares of United Technologies in a report on Wednesday, April 24th. Finally, Seaport Global Securities upgraded shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Monday, June 10th. Five 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 has an average rating of “Buy” and a consensus price target of $152.21.

UTX traded down $0.59 on Thursday, hitting $123.71. The company had a trading volume of 122,788 shares, compared to its average volume of 3,290,637. The stock has a market cap of $110.46 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.81 and a beta of 1.20. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $144.40. The stock’s fifty day simple moving average is $131.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.16. The firm had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. United Technologies’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.97 EPS. On average, equities research analysts predict that United Technologies Co. will post 8.02 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio is currently 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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