Heritage Way Advisors LLC Sells 100 Shares of United Technologies Corporation (UTX)

Heritage Way Advisors LLC lowered its position in United Technologies Corporation (NYSE:UTX) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,059 shares of the conglomerate’s stock after selling 100 shares during the period. United Technologies Corporation comprises about 1.8% of Heritage Way Advisors LLC’s portfolio, making the stock its 20th largest position. Heritage Way Advisors LLC’s holdings in United Technologies Corporation were worth $2,083,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of UTX. Riggs Asset Managment Co. Inc. raised its stake in shares of United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after buying an additional 125 shares during the last quarter. Tortoise Investment Management LLC raised its stake in shares of United Technologies Corporation by 2.7% in the fourth quarter. Tortoise Investment Management LLC now owns 1,031 shares of the conglomerate’s stock worth $113,000 after buying an additional 27 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of United Technologies Corporation during the fourth quarter worth $118,000. Alexandria Capital LLC raised its stake in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after buying an additional 4 shares during the last quarter. Finally, Paragon Capital Management Ltd acquired a new stake in shares of United Technologies Corporation during the first quarter worth $139,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

United Technologies Corporation (NYSE UTX) traded down 0.53% during mid-day trading on Friday, hitting $115.48. The stock had a trading volume of 2,760,448 shares. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The firm has a market cap of $92.24 billion, a P/E ratio of 17.59 and a beta of 1.06. The stock has a 50-day moving average price of $120.41 and a 200 day moving average price of $117.13.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the consensus estimate of $1.78 by $0.07. The business had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.82 EPS. Equities analysts anticipate that United Technologies Corporation will post $6.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be issued a $0.70 dividend. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio (DPR) is currently 42.68%.

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A number of equities research analysts recently commented on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $132.00 target price (up previously from $126.00) on shares of United Technologies Corporation in a report on Thursday, April 27th. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a report on Tuesday, May 16th. BidaskClub raised United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. UBS AG lifted their target price on United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $127.00 target price on shares of United Technologies Corporation in a report on Tuesday, July 25th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $123.54.

About United Technologies Corporation

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. Otis operates as an elevator and escalator manufacturing, installation and service company.

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

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