Oppenheimer & Co. Inc. raised its holdings in shares of United Technologies Co. (NYSE:UTX) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,725 shares of the conglomerate’s stock after acquiring an additional 704 shares during the period. Oppenheimer & Co. Inc.’s holdings in United Technologies were worth $9,593,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Silvant Capital Management LLC acquired a new position in shares of United Technologies during the 1st quarter valued at $113,000. Jolley Asset Management LLC acquired a new position in shares of United Technologies during the 2nd quarter valued at $114,000. WP Advisors LLC acquired a new position in shares of United Technologies during the 2nd quarter valued at $126,000. Kiley Juergens Wealth Management LLC acquired a new position in shares of United Technologies during the 2nd quarter valued at $127,000. Finally, Centerpoint Advisors LLC acquired a new position in shares of United Technologies during the 1st quarter valued at $131,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE UTX opened at $133.52 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46. The firm has a market capitalization of $106.24 billion, a P/E ratio of 18.78, a P/E/G ratio of 2.02 and a beta of 1.01. United Technologies Co. has a 52-week low of $109.10 and a 52-week high of $139.24.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, August 16th. United Technologies’s payout ratio is 42.11%.

UTX has been the topic of several research analyst reports. Jefferies Financial Group set a $157.00 price target on United Technologies and gave the company a “buy” rating in a research report on Tuesday, July 10th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a research report on Friday, June 1st. Finally, UBS Group initiated coverage on United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $146.78.

In related news, VP Robert J. Bailey sold 828 shares of United Technologies stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total value of $111,573.00. Following the transaction, the vice president now directly owns 2,000 shares in the company, valued at approximately $269,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Charles D. Gill sold 14,255 shares of United Technologies stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the completion of the transaction, the vice president now 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 18,511 shares of company stock worth $2,521,974 over the last 90 days. Insiders own 0.17% of the company’s stock.

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.

Further Reading: Fundamental Analysis and Individual Investors

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

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