Virginia Retirement Systems ET AL lowered its position in United Technologies Co. (NYSE:UTX) by 61.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,000 shares of the conglomerate’s stock after selling 200,100 shares during the period. Virginia Retirement Systems ET AL’s holdings in United Technologies were worth $15,754,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Morningstar Investment Services LLC increased its holdings in shares of United Technologies by 6.3% in the first quarter. Morningstar Investment Services LLC now owns 261,808 shares of the conglomerate’s stock valued at $32,941,000 after purchasing an additional 15,624 shares in the last quarter. Grassi Investment Management acquired a new stake in shares of United Technologies in the second quarter valued at approximately $7,044,000. North Star Investment Management Corp. acquired a new stake in shares of United Technologies in the second quarter valued at approximately $515,000. Parsec Financial Management Inc. grew its holdings in United Technologies by 1.5% during the 2nd quarter. Parsec Financial Management Inc. now owns 133,346 shares of the conglomerate’s stock worth $16,672,000 after acquiring an additional 1,906 shares during the period. Finally, Sumitomo Life Insurance Co. grew its holdings in United Technologies by 4.2% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 25,395 shares of the conglomerate’s stock worth $3,175,000 after acquiring an additional 1,025 shares during the period. Institutional investors own 81.77% of the company’s stock.

A number of analysts have commented on UTX shares. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $143.00 target price for the company in a report on Tuesday, May 22nd. Jefferies Financial Group set a $157.00 target price on shares of United Technologies and gave the stock a “buy” rating in a report on Tuesday, July 10th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. UBS Group started coverage on shares of United Technologies in a report on Wednesday. They set a “buy” rating for the company. Finally, Stifel Nicolaus lowered their target price on shares of United Technologies from $131.00 to $127.00 and set a “hold” rating for the company in a report on Wednesday, April 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $142.17.

In related news, CFO Akhil Johri sold 6,259 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $128.30, for a total value of $803,029.70. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Charles D. Gill sold 14,255 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the completion of the sale, the vice president now directly owns 55,029 shares in the company, valued at $7,507,606.47. The disclosure for this sale can be found here. Insiders sold a total of 34,470 shares of company stock valued at $4,571,162 in the last three months. 0.17% of the stock is owned by company insiders.

Shares of UTX stock opened at $134.44 on Friday. United Technologies Co. has a 12-month low of $109.10 and a 12-month high of $139.24. The firm has a market capitalization of $106.49 billion, a PE ratio of 20.22, a PEG ratio of 2.02 and a beta of 1.05. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.10.

United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The company had revenue of $16.71 billion during the quarter, compared to analyst estimates of $16.26 billion. During the same quarter in the previous year, the business earned $1.85 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. equities analysts expect that United Technologies Co. will post 7.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, August 16th. United Technologies’s dividend payout ratio (DPR) is 42.11%.

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: Outstanding Shares

Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).

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

Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.