Twin Capital Management Inc. Sells 35,696 Shares of United Technologies Co. (NYSE:UTX)

Twin Capital Management Inc. trimmed its holdings in United Technologies Co. (NYSE:UTX) by 35.1% in the 2nd quarter, Holdings Channel reports. The fund owned 66,064 shares of the conglomerate’s stock after selling 35,696 shares during the quarter. Twin Capital Management Inc.’s holdings in United Technologies were worth $8,602,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of UTX. Quad Cities Investment Group LLC increased its stake in shares of United Technologies by 62.1% in the 2nd 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 position in shares of United Technologies in the 2nd quarter worth about $35,000. Personal Wealth Partners bought a new position in shares of United Technologies in the 2nd quarter worth about $36,000. Ashburton Jersey Ltd bought a new position in shares of United Technologies in the 2nd quarter worth about $40,000. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of United Technologies in the 1st quarter worth about $47,000. Institutional investors own 81.03% of the company’s stock.

Shares of NYSE UTX traded down $0.70 during trading on Thursday, reaching $123.60. 128,078 shares of the company traded hands, compared to its average volume of 3,290,637. The firm’s 50 day moving average price is $131.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. The stock has a market capitalization of $110.46 billion, a PE ratio of 16.26, a PEG ratio of 1.81 and a beta of 1.20. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.40.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, August 15th. United Technologies’s payout ratio is presently 38.63%.

UTX has been the topic of several recent analyst reports. Barclays increased their price objective on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Seaport Global Securities raised shares of 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. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Friday, June 14th. Bank of America reissued a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Finally, Cowen raised shares of United Technologies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $150.00 in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $152.21.

In other news, EVP Michael R. Dumais sold 4,329 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $130.98, for a total transaction of $567,012.42. Following the sale, the executive vice president now owns 39,265 shares of the company’s stock, valued at approximately $5,142,929.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth B. Amato sold 4,298 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $135.71, for a total transaction of $583,281.58. Following the sale, the executive vice president now directly owns 30,847 shares in the company, valued at approximately $4,186,246.37. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

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.

Further Reading: What is the Difference Between Common Shares and Convertible Shares?

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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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