Watch Point Trust Co Raises Stock Holdings in United Technologies Co. (NYSE:UTX)

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Watch Point Trust Co raised its position in United Technologies Co. (NYSE:UTX) by 14.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 31,645 shares of the conglomerate’s stock after purchasing an additional 4,018 shares during the period. United Technologies comprises approximately 2.3% of Watch Point Trust Co’s holdings, making the stock its 12th largest position. Watch Point Trust Co’s holdings in United Technologies were worth $4,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UTX. Deprince Race & Zollo Inc. boosted its stake in shares of United Technologies by 13.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 175,715 shares of the conglomerate’s stock valued at $18,710,000 after purchasing an additional 21,495 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of United Technologies by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,383,674 shares of the conglomerate’s stock valued at $466,759,000 after purchasing an additional 256,907 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of United Technologies by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after purchasing an additional 1,293,517 shares in the last quarter. Maven Securities LTD bought a new stake in shares of United Technologies during the 4th quarter valued at about $301,000. Finally, MUFG Securities EMEA plc boosted its stake in shares of United Technologies by 63.7% during the 4th quarter. MUFG Securities EMEA plc now owns 33,378 shares of the conglomerate’s stock valued at $3,554,000 after purchasing an additional 12,989 shares in the last quarter. Institutional investors own 81.03% of the company’s stock.

NYSE UTX traded down $0.59 during trading hours on Thursday, reaching $123.71. 122,788 shares of the company’s stock traded hands, compared to its average volume of 3,290,637. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.40. The company has a market cap of $110.46 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.81 and a beta of 1.20. The business’s 50-day simple moving average is $131.80. 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 (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company had revenue of $19.63 billion during the quarter, compared to analysts’ expectations of $19.58 billion. During the same period last year, the company posted $1.97 EPS. United Technologies’s revenue was up 17.5% on a year-over-year basis. As a group, research analysts expect that United Technologies Co. will post 8.02 earnings per share for the current fiscal 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 issued a $0.735 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 annualized dividend and a yield of 2.38%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.

A number of equities research analysts have recently weighed in on UTX shares. Bank of America reaffirmed a “buy” rating and set a $195.00 target price (up previously from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Barclays lifted their target price on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. William Blair reissued a “hold” rating on shares of United Technologies in a research report on Monday, June 10th. Zacks Investment Research cut shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target for the company. in a research report on Friday, July 19th. Finally, Morgan Stanley lifted their price target on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. 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 stock. The stock has a consensus rating of “Buy” and an average target price of $152.21.

In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of United Technologies stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $135.71, for a total value 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael R. Dumais sold 4,329 shares of United Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $130.98, for a total transaction of $567,012.42. Following the completion of 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. 0.15% of the stock is currently owned by insiders.

United Technologies Company 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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