GWM Advisors LLC Purchases 1,071 Shares of United Technologies Co. (NYSE:UTX)
GWM Advisors LLC increased its position in shares of United Technologies Co. (NYSE:UTX) by 7.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,224 shares of the conglomerate’s stock after buying an additional 1,071 shares during the quarter. GWM Advisors LLC’s holdings in United Technologies were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quad Cities Investment Group LLC boosted its holdings 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 worth $34,000 after buying an additional 100 shares during the period. Manchester Financial Inc. bought a new stake in United Technologies in the 2nd quarter valued at $35,000. Personal Wealth Partners acquired a new position in shares of United Technologies in the 2nd quarter valued at $36,000. Ashburton Jersey Ltd acquired a new position in shares of United Technologies in the 2nd quarter valued at $40,000. Finally, AlphaMark Advisors LLC raised its stake in shares of United Technologies by 133.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 350 shares of the conglomerate’s stock valued at $46,000 after buying an additional 200 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.
Shares of United Technologies stock traded up $0.44 during mid-day trading on Tuesday, reaching $127.08. 79,642 shares of the stock were exchanged, compared to its average volume of 3,299,004. The company has a market cap of $107.90 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20. 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 firm has a 50-day simple moving average of $131.37 and a 200 day simple moving average of $130.23. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, August 15th. United Technologies’s payout ratio is presently 38.63%.
A number of brokerages recently issued reports on UTX. Zacks Investment Research cut shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price for the company. in a research report on Friday, July 19th. Cowen upgraded shares of United Technologies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $135.00 to $150.00 in a research report on Monday, June 24th. Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Friday, June 14th. Seaport Global Securities upgraded shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price for the company in a research report on Monday, June 10th. Finally, Morgan Stanley increased their target price on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $152.21.
In other United Technologies 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 value of $567,012.42. Following the completion of the sale, the executive vice president now owns 39,265 shares in the company, valued at approximately $5,142,929.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the sale, the executive vice president now owns 30,847 shares of the company’s stock, 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.
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