United Technologies Co. (UTX) Position Lessened by Advisors Asset Management Inc.
Advisors Asset Management Inc. lowered its position in shares of United Technologies Co. (NYSE:UTX) by 0.7% in the second quarter, HoldingsChannel reports. The firm owned 130,611 shares of the conglomerate’s stock after selling 945 shares during the period. Advisors Asset Management Inc.’s holdings in United Technologies were worth $16,330,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in UTX. BTR Capital Management Inc. increased its position in United Technologies by 0.4% in the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock valued at $11,516,000 after acquiring an additional 375 shares in the last quarter. Squar Milner Financial Services LLC increased its position in United Technologies by 13.5% in the 2nd quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock valued at $418,000 after acquiring an additional 397 shares in the last quarter. Ascension Asset Management LLC increased its position in United Technologies by 2.6% in the 2nd quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock valued at $1,972,000 after acquiring an additional 400 shares in the last quarter. FCG Advisors LLC increased its position in United Technologies by 12.3% in the 2nd quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock valued at $460,000 after acquiring an additional 403 shares in the last quarter. Finally, Wells Trecaso Financial Group LLC increased its position in United Technologies by 1.3% in the 2nd quarter. Wells Trecaso Financial Group LLC now owns 30,618 shares of the conglomerate’s stock valued at $3,828,000 after acquiring an additional 405 shares in the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.
In related news, CFO Akhil Johri sold 3,428 shares of United Technologies stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total transaction of $465,590.96. Following the transaction, the chief financial officer now owns 43,403 shares of the company’s stock, valued at approximately $5,894,995.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Charles D. Gill sold 14,255 shares of United Technologies stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the transaction, the vice president now directly owns 55,029 shares in the company, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. Insiders have sold a total of 18,511 shares of company stock worth $2,521,974 in the last three months. 0.17% of the stock is owned by insiders.
Shares of NYSE:UTX opened at $130.07 on Thursday. United Technologies Co. has a one year low of $115.40 and a one year high of $144.15. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.82. The company has a market cap of $111.86 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.12 and a beta of 0.98.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, topping 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 analysts’ expectations of $16.26 billion. During the same quarter in the previous year, the company earned $1.85 EPS. United Technologies’s revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a dividend of $0.735 per share. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.94 annualized dividend and a yield of 2.26%. United Technologies’s dividend payout ratio (DPR) is presently 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.
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