FinTrust Capital Advisors LLC Sells 126 Shares of United Technologies Co. (NYSE:UTX)

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FinTrust Capital Advisors LLC cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,020 shares of the conglomerate’s stock after selling 126 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in United Technologies were worth $524,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of UTX. Quad Cities Investment Group LLC lifted its position in 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 in the last quarter. Manchester Financial Inc. bought a new stake in shares of United Technologies in the 2nd quarter valued at about $35,000. Personal Wealth Partners bought a new stake in shares of United Technologies in the 2nd quarter valued at about $36,000. Ashburton Jersey Ltd bought a new stake in shares of United Technologies in the 2nd quarter valued at about $40,000. Finally, Massey Quick Simon & CO. LLC bought a new stake in shares of United Technologies in the 1st quarter valued at about $47,000. 81.03% of the stock is currently owned by hedge funds and other institutional investors.

In other United Technologies news, EVP Michael R. Dumais sold 4,329 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $130.98, for a total transaction of $567,012.42. Following the transaction, the executive vice president now owns 39,265 shares in the company, valued at approximately $5,142,929.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $135.71, for a total transaction of $583,281.58. Following the transaction, the executive vice president now owns 30,847 shares in the company, valued at approximately $4,186,246.37. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

UTX has been the topic of a number of research analyst reports. Barclays upped their target price 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. Zacks Investment Research cut shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price on the stock. in a report on Friday, July 19th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Seaport Global Securities raised shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Monday, June 10th. Finally, 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 report on Thursday, July 25th. Five 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. The stock currently has a consensus rating of “Buy” and an average target price of $152.21.

UTX traded down $0.86 on Thursday, reaching $123.44. The company had a trading volume of 2,010,065 shares, compared to its average volume of 3,290,637. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The firm has a market cap of $110.46 billion, a PE ratio of 16.22, a P/E/G ratio of 1.81 and a beta of 1.20. The firm’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 announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The business had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. During the same quarter in the prior year, the business earned $1.97 EPS. United Technologies’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts forecast that United Technologies Co. will post 8.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid a $0.735 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.38%. United Technologies’s dividend payout ratio (DPR) 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.

Further Reading: Net Income

Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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