McKinley Carter Wealth Services Inc. lessened its stake in United Technologies Co. (NYSE:UTX) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,025 shares of the conglomerate’s stock after selling 470 shares during the quarter. United Technologies makes up about 0.9% of McKinley Carter Wealth Services Inc.’s investment portfolio, making the stock its 28th largest position. McKinley Carter Wealth Services Inc.’s holdings in United Technologies were worth $3,519,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in UTX. Geode Capital Management LLC raised its stake 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 in the last quarter. Norges Bank purchased a new stake in United Technologies during the fourth quarter valued at $824,350,000. Fisher Asset Management LLC raised its stake in United Technologies by 3.4% during the second quarter. Fisher Asset Management LLC now owns 4,610,441 shares of the conglomerate’s stock valued at $600,279,000 after purchasing an additional 151,889 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 in the last quarter. Finally, Clearbridge Investments LLC raised its stake in United Technologies by 170.5% during the first quarter. Clearbridge Investments LLC now owns 3,972,118 shares of the conglomerate’s stock valued at $511,966,000 after purchasing an additional 2,503,654 shares in the last quarter. 81.03% of the stock is currently owned by hedge funds and other institutional investors.
UTX stock traded up $1.31 during mid-day trading on Friday, reaching $125.05. 2,507,500 shares of the stock traded hands, compared to its average volume of 3,334,106. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05. United Technologies Co. has a one year low of $100.48 and a one year high of $144.40. The stock has a market capitalization of $106.77 billion, a PE ratio of 16.43, a PEG ratio of 1.75 and a beta of 1.20. The business has a 50-day moving average price of $131.64 and a two-hundred day moving average price of $130.30.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating the Zacks’ 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 analysts’ expectations of $19.58 billion. During the same quarter in the previous year, the business posted $1.97 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. On average, equities analysts expect that United Technologies Co. will post 8.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio (DPR) is 38.63%.
In other United Technologies news, EVP Michael R. Dumais sold 4,329 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $130.98, for a total transaction of $567,012.42. Following the transaction, the executive vice president now owns 39,265 shares in the company, valued at $5,142,929.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth B. Amato sold 4,298 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $135.71, for a total transaction of $583,281.58. Following the transaction, 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. Insiders own 0.15% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Bank of America reaffirmed a “buy” rating and set a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Friday, June 14th. Morgan Stanley upped their price target on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Zacks Investment Research downgraded 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 note on Friday, July 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently 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.
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