Signition LP purchased a new stake in United Technologies Co. (NYSE:UTX) during the 2nd quarter, Holdings Channel reports. The fund purchased 4,761 shares of the conglomerate’s stock, valued at approximately $595,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Silvant Capital Management LLC purchased a new position in United Technologies during the first quarter valued at approximately $113,000. Jolley Asset Management LLC purchased a new position in United Technologies during the second quarter valued at approximately $114,000. WP Advisors LLC purchased a new position in United Technologies during the second quarter valued at approximately $126,000. Kiley Juergens Wealth Management LLC purchased a new position in United Technologies during the second quarter valued at approximately $127,000. Finally, Centerpoint Advisors LLC purchased a new position in United Technologies during the first quarter valued at approximately $131,000. 81.77% of the stock is currently owned by institutional investors.

UTX stock opened at $135.14 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.10. United Technologies Co. has a one year low of $109.10 and a one year high of $139.24. The company has a market capitalization of $106.49 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 2.02 and a beta of 1.05.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The business had revenue of $16.71 billion during the quarter, compared to analysts’ expectations of $16.26 billion. During the same quarter in the previous year, the company earned $1.85 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. equities research analysts forecast that United Technologies Co. will post 7.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be paid a $0.70 dividend. The ex-dividend date is Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.07%. United Technologies’s dividend payout ratio is presently 42.11%.

In other United Technologies news, VP Robert J. Bailey sold 828 shares of the business’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total value of $111,573.00. Following the completion of the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $269,500. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Charles D. Gill sold 14,255 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the completion of the transaction, the vice president now directly owns 55,029 shares of the company’s stock, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. In the last three months, insiders sold 18,511 shares of company stock valued at $2,521,974. Corporate insiders own 0.17% of the company’s stock.

Several equities analysts recently commented on UTX shares. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a research note on Tuesday, May 22nd. Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, July 10th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. UBS Group started coverage on shares of United Technologies in a research note on Wednesday, August 15th. They set a “buy” rating for the company. Finally, Stifel Nicolaus reduced their price objective on shares of United Technologies from $131.00 to $127.00 and set a “hold” rating for the company in a research note on Wednesday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $142.17.

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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