Bank of Stockton Decreases Stock Holdings in United Technologies Co. (NYSE:UTX)

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Bank of Stockton decreased its position in United Technologies Co. (NYSE:UTX) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,547 shares of the conglomerate’s stock after selling 74 shares during the quarter. United Technologies makes up 0.9% of Bank of Stockton’s investment portfolio, making the stock its 26th largest position. Bank of Stockton’s holdings in United Technologies were worth $1,763,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in UTX. Norges Bank purchased a new position in shares of United Technologies in the fourth quarter valued at about $824,350,000. Clearbridge Investments LLC increased its position in shares of United Technologies by 170.5% in the first quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock valued at $511,966,000 after acquiring an additional 2,503,654 shares during the period. Geode Capital Management LLC increased its position in shares of United Technologies by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after acquiring an additional 1,293,517 shares during the period. Thoroughbred Financial Services LLC increased its position in shares of United Technologies by 13,200.8% in the second quarter. Thoroughbred Financial Services LLC now owns 1,096,914 shares of the conglomerate’s stock valued at $109,691,000 after acquiring an additional 1,088,667 shares during the period. Finally, Ellis Investment Partners LLC increased its position in shares of United Technologies by 12,791.8% during the first quarter. Ellis Investment Partners LLC now owns 942,390 shares of the conglomerate’s stock valued at $942,000 after buying an additional 935,080 shares during the period. Hedge funds and other institutional investors own 80.85% of the company’s stock.

In related news, EVP Elizabeth B. Amato sold 4,298 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $135.71, for a total transaction of $583,281.58. Following the sale, the executive vice president now owns 30,847 shares of the company’s stock, valued at $4,186,246.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.

Shares of NYSE UTX opened at $125.75 on Tuesday. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $144.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. The company’s 50-day moving average is $131.56. The stock has a market capitalization of $112.87 billion, a PE ratio of 16.52, a P/E/G ratio of 1.85 and a beta of 1.20.

United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping the 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 previous year, the firm posted $1.97 earnings per share. United Technologies’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities analysts anticipate that United Technologies Co. will post 8.02 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, August 15th. United Technologies’s payout ratio is currently 38.63%.

UTX has been the topic of several research analyst reports. Bank of America reiterated a “buy” rating and set a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Zacks Investment Research cut shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target on the stock. in a research report on Friday, July 19th. Seaport Global Securities upgraded shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price target on the stock in a research report on Monday, June 10th. William Blair reiterated a “hold” rating on shares of United Technologies in a research report on Monday, June 10th. Finally, Barclays boosted their price target on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Five investment 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. United Technologies currently has an average rating of “Buy” and an average price target of $152.21.

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.

See Also: S&P 500 Index

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

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