Lipe & Dalton Sells 2,749 Shares of United Technologies Co. (NYSE:UTX)

Lipe & Dalton lessened its stake in United Technologies Co. (NYSE:UTX) by 6.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 39,484 shares of the conglomerate’s stock after selling 2,749 shares during the quarter. United Technologies makes up 3.7% of Lipe & Dalton’s holdings, making the stock its 5th largest position. Lipe & Dalton’s holdings in United Technologies were worth $5,141,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC grew its position in United Technologies by 62.1% in the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 100 shares in the last quarter. Manchester Financial Inc. bought a new stake in United Technologies in the second quarter worth approximately $35,000. Massey Quick Simon & CO. LLC bought a new stake in United Technologies in the first quarter worth approximately $47,000. Sageworth Trust Co bought a new stake in United Technologies in the first quarter worth approximately $50,000. Finally, Canton Hathaway LLC grew its position in United Technologies by 625.5% in the first quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.

In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $135.71, for a total value of $583,281.58. Following the completion of the sale, the executive vice president now directly 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 the SEC website. 0.15% of the stock is owned by corporate insiders.

UTX has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $159.00 price objective on shares of United Technologies in a report on Wednesday, April 24th. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Friday, June 14th. Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a report on Friday, July 19th. Finally, Barclays upped their price objective on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $152.21.

Shares of United Technologies stock opened at $130.81 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The firm has a fifty day moving average of $131.32. The company has a market cap of $115.27 billion, a P/E ratio of 17.19, a PEG ratio of 1.89 and a beta of 1.20.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The firm had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the prior year, the firm earned $1.97 EPS. The business’s revenue was up 17.5% on a year-over-year basis. As a group, analysts forecast that United Technologies Co. will post 8.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 yield of 2.25%. The ex-dividend date is Thursday, August 15th. United Technologies’s dividend payout ratio (DPR) is presently 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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