Parsons Capital Management Inc. RI increased its stake in United Technologies Co. (NYSE:UTX) by 1.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 43,773 shares of the conglomerate’s stock after buying an additional 498 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in United Technologies were worth $5,699,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quad Cities Investment Group LLC lifted its holdings in United Technologies by 62.1% during the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Manchester Financial Inc. purchased a new stake in United Technologies during the second quarter valued at about $35,000. Personal Wealth Partners purchased a new stake in United Technologies during the second quarter valued at about $36,000. Ashburton Jersey Ltd purchased a new stake in United Technologies during the second quarter valued at about $40,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in United Technologies during the first quarter valued at about $47,000. 81.03% of the stock is currently owned by institutional investors.

In other United Technologies news, EVP Michael R. Dumais sold 4,329 shares of the stock in a transaction that occurred 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 directly 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 can be accessed through this hyperlink. Also, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction that occurred 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 $4,186,246.37. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Shares of UTX stock traded down $0.89 during trading on Thursday, hitting $123.41. The company had a trading volume of 149,412 shares, compared to its average volume of 3,290,637. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. The business’s 50-day simple moving average is $131.80. The firm has a market cap of $110.46 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.81 and a beta of 1.20. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $144.40.

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, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.16. The company had revenue of $19.63 billion for the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. United Technologies’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 earnings per share. On average, research analysts anticipate that United Technologies Co. will post 8.02 EPS for the current fiscal year.

The business 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. This represents a $2.94 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio (DPR) is 38.63%.

Several brokerages have recently weighed in on UTX. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Friday, June 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a research report on Wednesday, April 24th. Seaport Global Securities upgraded 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. Bank of America reiterated a “buy” rating and set a $195.00 price target (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Finally, Zacks Investment Research cut 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. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average 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.

See Also: What is Compound Annual Growth Rate (CAGR)?

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.