Todays Report: The United Technologies Corp. (UTX) Position Decreased by Huntington National Bank

The United Technologies Corp. (UTX) Position Decreased by Huntington National Bank

Huntington National Bank lowered its stake in United Technologies Corp. (NYSE:UTX) by 27.5% during the second quarter, Holdings Channel reports. The institutional investor owned 170,977 shares of the company’s stock after selling 64,699 shares during the period. Huntington National Bank’s holdings in United Technologies Corp. were worth $17,534,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its position in shares of United Technologies Corp. by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 1,895 shares of the company’s stock worth $194,000 after buying an additional 5 shares in the last quarter. Ronna Sue Cohen raised its position in shares of United Technologies Corp. by 0.3% in the second quarter. Ronna Sue Cohen now owns 2,722 shares of the company’s stock worth $279,000 after buying an additional 7 shares in the last quarter. Eastern Bank raised its position in shares of United Technologies Corp. by 0.6% in the second quarter. Eastern Bank now owns 4,038 shares of the company’s stock worth $414,000 after buying an additional 25 shares in the last quarter. Financial Architects Inc raised its position in shares of United Technologies Corp. by 0.8% in the second quarter. Financial Architects Inc now owns 3,697 shares of the company’s stock worth $379,000 after buying an additional 30 shares in the last quarter. Finally, Palisade Capital Management LLC NJ raised its position in shares of United Technologies Corp. by 0.5% in the first quarter. Palisade Capital Management LLC NJ now owns 7,790 shares of the company’s stock worth $780,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.

United Technologies Corp. (NYSE:UTX) traded down 0.45% during trading on Monday, reaching $99.71. The company had a trading volume of 2,452,355 shares. The company has a market capitalization of $83.45 billion, a PE ratio of 11.76 and a beta of 1.11. The company has a 50 day moving average price of $102.58 and a 200 day moving average price of $103.30. United Technologies Corp. has a 52-week low of $83.39 and a 52-week high of $109.83.

United Technologies Corp. (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.14. The firm earned $14.90 billion during the quarter, compared to analyst estimates of $14.67 billion. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. On average, equities analysts forecast that United Technologies Corp. will post $6.58 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, November 16th. United Technologies Corp.’s dividend payout ratio (DPR) is currently 31.13%.

A number of brokerages recently issued reports on UTX. Bank of America Corp. reiterated a “buy” rating and issued a $130.00 target price (up previously from $115.00) on shares of United Technologies Corp. in a research report on Wednesday, July 27th. Jefferies Group reiterated a “buy” rating and issued a $118.00 target price on shares of United Technologies Corp. in a research report on Wednesday, July 27th. Barclays PLC increased their target price on shares of United Technologies Corp. from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 27th. Stifel Nicolaus reiterated a “hold” rating on shares of United Technologies Corp. in a research report on Sunday, July 31st. Finally, Zacks Investment Research upgraded shares of United Technologies Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $110.04.

In other United Technologies Corp. news, VP Charles D. Gill sold 6,202 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $109.00, for a total transaction of $676,018.00. Following the transaction, the vice president now owns 51,778 shares in the company, valued at $5,643,802. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert J. Mcdonough sold 3,100 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $107.11, for a total value of $332,041.00. Following the transaction, the insider now owns 11,349 shares in the company, valued at approximately $1,215,591.39. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

United Technologies Corp. Company Profile

United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.

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