Pegasus Asset Management Inc. lifted its stake in shares of United Technologies Co. (NYSE:UTX) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,947 shares of the conglomerate’s stock after buying an additional 309 shares during the period. United Technologies comprises approximately 2.1% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 18th biggest position. Pegasus Asset Management Inc.’s holdings in United Technologies were worth $2,727,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Wealth Architects LLC grew its holdings in United Technologies by 4.3% during the 2nd quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock worth $236,000 after acquiring an additional 75 shares during the period. Patten Group Inc. grew its holdings in United Technologies by 0.3% during the 2nd quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock worth $3,643,000 after acquiring an additional 75 shares during the period. Glenview State Bank Trust DEPT. grew its holdings in United Technologies by 3.0% during the 2nd quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock worth $331,000 after acquiring an additional 75 shares during the period. Mcrae Capital Management Inc. grew its holdings in United Technologies by 1.4% during the 2nd quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock worth $715,000 after acquiring an additional 75 shares during the period. Finally, Heritage Way Advisors LLC grew its holdings in United Technologies by 0.4% during the 2nd quarter. Heritage Way Advisors LLC now owns 18,501 shares of the conglomerate’s stock worth $2,409,000 after acquiring an additional 75 shares during the period. Institutional investors own 80.13% of the company’s stock.

In related news, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $135.71, for a total value of $583,281.58. Following the transaction, the executive vice president now owns 30,847 shares of the company’s stock, valued at approximately $4,186,246.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael R. Dumais sold 4,329 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $130.98, for a total transaction of $567,012.42. Following the completion of the transaction, the executive vice president now directly owns 39,265 shares in the company, valued at approximately $5,142,929.70. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

UTX has been the subject of a number of recent analyst reports. William Blair reiterated a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Cowen upgraded United Technologies from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $135.00 to $150.00 in a report on Monday, June 24th. 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 report on Thursday, July 25th. Barclays increased their price target on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $152.21.

Shares of UTX stock traded up $1.09 on Wednesday, reaching $127.77. 685,308 shares of the company were exchanged, compared to its average volume of 3,299,004. The company has a market cap of $107.90 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.77 and a beta of 1.20. The company has a 50-day moving average of $131.28 and a 200-day moving average of $130.27. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. United Technologies Co. has a one year low of $100.48 and a one year high of $144.40.

United Technologies (NYSE:UTX) last released 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. 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%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. As a group, sell-side analysts predict that United Technologies Co. will post 8.03 EPS for the current year.

The firm also recently declared 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 is Thursday, August 15th. This represents a $2.94 annualized dividend and a yield of 2.30%. United Technologies’s payout ratio is 38.63%.

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

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