Seelaus Asset Management LLC Buys New Shares in United Technologies Co. (NYSE:UTX)

Seelaus Asset Management LLC purchased a new stake in United Technologies Co. (NYSE:UTX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,125 shares of the conglomerate’s stock, valued at approximately $277,000.

A number of other hedge funds have also recently made changes to their positions in UTX. Quad Cities Investment Group LLC grew its stake in shares of 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 purchasing an additional 100 shares during the period. Manchester Financial Inc. acquired a new stake in shares of United Technologies in the 2nd quarter worth approximately $35,000. Personal Wealth Partners acquired a new stake in shares of United Technologies in the 2nd quarter worth approximately $36,000. Ashburton Jersey Ltd acquired a new stake in shares of United Technologies in the 2nd quarter worth approximately $40,000. Finally, Massey Quick Simon & CO. LLC acquired a new stake in shares of United Technologies in the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.

NYSE:UTX traded up $1.28 during mid-day trading on Tuesday, hitting $129.30. The company had a trading volume of 107,833 shares, compared to its average volume of 3,281,478. The business has a fifty day simple moving average of $131.91. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. United Technologies Co. has a 1 year low of $100.48 and a 1 year high of $144.40. The company has a market capitalization of $111.69 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.27%. United Technologies’s dividend payout ratio is presently 38.63%.

UTX has been the topic of several research reports. 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 report on Friday, June 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $159.00 price objective on shares of United Technologies in a research report on Wednesday, April 24th. Morgan Stanley raised 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. Bank of America reissued a “buy” rating and issued a $195.00 price objective (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Finally, Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a research report on Monday, June 10th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. United Technologies has a consensus rating of “Buy” and an average target price of $152.21.

In other news, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $135.71, for a total transaction of $583,281.58. Following the completion of the sale, the executive vice president now directly owns 30,847 shares in the company, valued at $4,186,246.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

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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