Strategic Wealth Partners Ltd. Raises Stock Position in United Technologies Co. (NYSE:UTX)

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Strategic Wealth Partners Ltd. boosted its position in shares of United Technologies Co. (NYSE:UTX) by 40.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,018 shares of the conglomerate’s stock after purchasing an additional 291 shares during the period. Strategic Wealth Partners Ltd.’s holdings in United Technologies were worth $131,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Deprince Race & Zollo Inc. grew its holdings in United Technologies by 13.9% during the fourth 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 during the period. Dimensional Fund Advisors LP grew its holdings in United Technologies by 6.2% during the fourth 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 during the period. Geode Capital Management LLC grew its holdings in United Technologies by 15.0% during 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 purchasing an additional 1,293,517 shares during the period. Nalls Sherbakoff Group LLC bought a new position in United Technologies during the fourth quarter valued at $59,000. Finally, Kaizen Advisory LLC grew its holdings in United Technologies by 20.8% during the fourth quarter. Kaizen Advisory LLC now owns 2,158 shares of the conglomerate’s stock valued at $230,000 after purchasing an additional 372 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Shares of UTX stock traded down $4.54 on Friday, reaching $123.42. The company’s stock had a trading volume of 2,817,680 shares, compared to its average volume of 2,704,417. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40. The company has a market capitalization of $110.41 billion, a P/E ratio of 16.22, a PEG ratio of 1.81 and a beta of 1.20. The stock’s 50 day simple moving average is $130.93 and its 200-day simple moving average is $130.39.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The company had revenue of $19.63 billion for the quarter, compared to the consensus estimate of $19.58 billion. During the same quarter last year, the business posted $1.97 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. Research analysts expect that United Technologies Co. will post 8.03 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 given a $0.735 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.38%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.

In related news, EVP Michael R. Dumais sold 4,329 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $130.98, for a total value of $567,012.42. Following the sale, the executive vice president now owns 39,265 shares in the company, valued at $5,142,929.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $135.71, for a total value of $583,281.58. Following the completion of the sale, 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. Company insiders own 0.15% of the company’s stock.

Several research firms have issued reports on UTX. Morgan Stanley increased their target price on United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Barclays increased their target price on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. William Blair restated a “hold” rating on shares of United Technologies in a research report on Monday, June 10th. Bank of America restated a “buy” rating and set a $195.00 target price (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Finally, Seaport Global Securities upgraded United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. United Technologies has a consensus rating of “Buy” and a consensus price target of $152.21.

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.

Further Reading: Catch-Up Contributions

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

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