Huntington National Bank Sells 8,347 Shares of United Technologies Co. (NYSE:UTX)
Huntington National Bank cut its stake in shares of United Technologies Co. (NYSE:UTX) by 4.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 193,604 shares of the conglomerate’s stock after selling 8,347 shares during the period. Huntington National Bank’s holdings in United Technologies were worth $25,208,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Quad Cities Investment Group LLC boosted its position in shares of 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 buying an additional 100 shares during the last quarter. Manchester Financial Inc. purchased a new stake in shares of United Technologies during the second quarter valued at $35,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of United Technologies during the first quarter valued at $47,000. Sageworth Trust Co purchased a new stake in shares of United Technologies during the first quarter valued at $50,000. Finally, Canton Hathaway LLC boosted its position in shares of United Technologies by 625.5% during the first quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock valued at $51,000 after buying an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 80.61% of the company’s stock.
Several research firms recently commented on UTX. Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Friday, July 19th. Bank of America cut TAL Education Group from a “buy” rating to a “neutral” rating in a research report on Thursday. Royal Bank of Canada set a GBX 5,200 ($67.95) price objective on London Stock Exchange Group and gave the company a “buy” rating in a research report on Wednesday, April 24th. Morgan Stanley increased their price objective on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, Barclays cut FirstCash from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $152.21.
United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.16. The business had revenue of $19.63 billion for the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $1.97 earnings per share. Equities analysts forecast that United Technologies Co. will post 8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a $0.735 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 annualized dividend and a yield of 2.17%. United Technologies’s payout ratio is 38.63%.
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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