State of Wisconsin Investment Board Reduces Stake in United Technologies Co. (UTX)
State of Wisconsin Investment Board lessened its position in United Technologies Co. (NYSE:UTX) by 5.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 760,601 shares of the conglomerate’s stock after selling 43,464 shares during the quarter. State of Wisconsin Investment Board’s holdings in United Technologies were worth $95,098,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Silvant Capital Management LLC acquired a new stake in shares of United Technologies during the first quarter worth $113,000. Jolley Asset Management LLC acquired a new stake in shares of United Technologies during the second quarter worth $114,000. WP Advisors LLC acquired a new stake in shares of United Technologies during the second quarter worth $126,000. Kiley Juergens Wealth Management LLC acquired a new stake in shares of United Technologies during the second quarter worth $127,000. Finally, Centerpoint Advisors LLC acquired a new stake in shares of United Technologies during the first quarter worth $131,000. 81.77% of the stock is currently owned by institutional investors.
In other United Technologies news, VP Charles D. Gill sold 14,255 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the completion of the sale, the vice president now owns 55,029 shares of the company’s stock, valued at $7,507,606.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akhil Johri sold 6,259 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $128.30, for a total value of $803,029.70. Following the completion of the sale, the chief financial officer now directly owns 47,088 shares of the company’s stock, valued at approximately $6,041,390.40. The disclosure for this sale can be found here. Insiders sold 34,470 shares of company stock valued at $4,571,162 in the last ninety days. Insiders own 0.17% of the company’s stock.
Shares of NYSE UTX opened at $134.44 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.82. United Technologies Co. has a one year low of $109.10 and a one year high of $139.24. The stock has a market capitalization of $106.49 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.02 and a beta of 1.05.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The firm had revenue of $16.71 billion for the quarter, compared to the consensus estimate of $16.26 billion. During the same quarter in the previous year, the company posted $1.85 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. equities research analysts anticipate that United Technologies Co. will post 7.22 EPS 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 given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. United Technologies’s dividend payout ratio is currently 42.11%.
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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