United Technologies Corporation (UTX) Holdings Trimmed by KCM Investment Advisors LLC
KCM Investment Advisors LLC lessened its position in shares of United Technologies Corporation (NYSE:UTX) by 4.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 28,455 shares of the conglomerate’s stock after selling 1,426 shares during the quarter. KCM Investment Advisors LLC’s holdings in United Technologies were worth $3,475,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Comerica Securities Inc. increased its position in United Technologies by 8.5% during the 2nd quarter. Comerica Securities Inc. now owns 17,686 shares of the conglomerate’s stock valued at $2,160,000 after purchasing an additional 1,388 shares during the period. TCI Wealth Advisors Inc. increased its position in United Technologies by 3.9% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,599 shares of the conglomerate’s stock valued at $317,000 after purchasing an additional 98 shares during the period. King Luther Capital Management Corp increased its position in United Technologies by 0.7% during the 2nd quarter. King Luther Capital Management Corp now owns 118,178 shares of the conglomerate’s stock valued at $14,431,000 after purchasing an additional 777 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in United Technologies by 21.2% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 7,943 shares of the conglomerate’s stock valued at $970,000 after purchasing an additional 1,387 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in United Technologies during the 2nd quarter valued at approximately $587,000. 80.20% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now directly owns 27,548 shares in the company, valued at approximately $3,332,757.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert J. Bailey sold 827 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,792 shares of company stock worth $1,182,520. 0.16% of the stock is owned by company insiders.
United Technologies Corporation (NYSE UTX) traded up $0.91 during trading on Thursday, hitting $121.20. The company’s stock had a trading volume of 2,607,400 shares, compared to its average volume of 3,036,120. The company has a market cap of $96,059.98, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.07. United Technologies Corporation has a 52-week low of $106.85 and a 52-week high of $124.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 EPS. sell-side analysts expect that United Technologies Corporation will post 6.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies’s dividend payout ratio is currently 43.41%.
A number of analysts have weighed in on the stock. Vertical Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research report on Tuesday, September 5th. Deutsche Bank decreased their target price on shares of United Technologies from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Wednesday, September 6th. Cowen reissued a “hold” rating and set a $120.00 target price on shares of United Technologies in a research report on Friday, November 10th. Bank of America reissued a “buy” rating and set a $140.00 target price on shares of United Technologies in a research report on Wednesday, September 6th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $126.00 price target on shares of United Technologies in a report on Tuesday, October 10th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $125.15.
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United Technologies Company Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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