United Technologies Co. (NYSE:UTX) Shares Sold by Northstar Capital Management LLC
Northstar Capital Management LLC lessened its holdings in shares of United Technologies Co. (NYSE:UTX) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,123 shares of the conglomerate’s stock after selling 81 shares during the quarter. United Technologies accounts for 1.8% of Northstar Capital Management LLC’s portfolio, making the stock its 21st largest position. Northstar Capital Management LLC’s holdings in United Technologies were worth $1,969,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quad Cities Investment Group LLC raised its stake in United Technologies by 62.1% during the 2nd quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Massey Quick Simon & CO. LLC bought a new stake in United Technologies during the 1st quarter valued at $47,000. Sageworth Trust Co bought a new stake in United Technologies during the 1st quarter valued at $50,000. Canton Hathaway LLC raised its stake in United Technologies by 625.5% during the 1st quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock valued at $51,000 after acquiring an additional 344 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC bought a new stake in United Technologies during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 80.79% of the company’s stock.
Shares of UTX stock traded down $0.14 during mid-day trading on Tuesday, hitting $135.58. 42,298 shares of the stock traded hands, compared to its average volume of 3,142,600. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $144.40. The stock has a market capitalization of $116.83 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 1.93 and a beta of 1.23. The stock’s 50-day simple moving average is $130.69. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, August 15th. United Technologies’s payout ratio is 38.63%.
Several analysts have weighed in on the company. Royal Bank of Canada set a GBX 5,200 ($67.95) target price on London Stock Exchange Group and gave the company a “buy” rating in a research note on Wednesday, April 24th. Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Friday, July 19th. Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Monday, June 10th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a research note on Monday, June 10th. Finally, Vertical Research raised United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Friday, June 14th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $152.21.
United Technologies Company 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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