Victory Capital Management Inc. boosted its position in United Technologies Co. (NYSE:UTX) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,769 shares of the conglomerate’s stock after purchasing an additional 3,168 shares during the quarter. Victory Capital Management Inc.’s holdings in United Technologies were worth $5,839,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Engineers Gate Manager LP lifted its position in United Technologies by 176.3% in the 4th quarter. Engineers Gate Manager LP now owns 26,530 shares of the conglomerate’s stock valued at $3,384,000 after purchasing an additional 16,928 shares during the last quarter. Highstreet Asset Management Inc. lifted its position in United Technologies by 5.3% in the 4th quarter. Highstreet Asset Management Inc. now owns 30,912 shares of the conglomerate’s stock valued at $3,943,000 after purchasing an additional 1,554 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its position in United Technologies by 518.4% in the 4th quarter. Quantitative Systematic Strategies LLC now owns 22,485 shares of the conglomerate’s stock valued at $2,868,000 after purchasing an additional 18,849 shares during the last quarter. Iberiabank Corp lifted its position in United Technologies by 195.5% in the 4th quarter. Iberiabank Corp now owns 44,793 shares of the conglomerate’s stock valued at $5,753,000 after purchasing an additional 29,634 shares during the last quarter. Finally, Traynor Capital Management Inc. lifted its position in United Technologies by 31.6% in the 4th quarter. Traynor Capital Management Inc. now owns 8,901 shares of the conglomerate’s stock valued at $1,135,000 after purchasing an additional 2,139 shares during the last quarter. Hedge funds and other institutional investors own 82.38% of the company’s stock.
UTX has been the topic of several recent research reports. Royal Bank of Canada upgraded shares of United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Barclays lifted their price objective on shares of United Technologies from $157.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Sanford C. Bernstein reissued a “positive” rating and set a $153.00 target price (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Finally, Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $137.20.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.04. The company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS. research analysts expect that United Technologies Co. will post 7.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 16th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.09%. United Technologies’s dividend payout ratio is currently 42.68%.
In other news, VP Robert J. Bailey sold 864 shares of United Technologies stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $252,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth B. Amato sold 4,341 shares of United Technologies stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $125.92, for a total transaction of $546,618.72. Following the completion of the transaction, the executive vice president now directly owns 29,122 shares in the company, valued at approximately $3,667,042.24. The disclosure for this sale can be found here. Insiders sold a total of 8,292 shares of company stock worth $1,064,829 in the last ninety days. Corporate insiders own 0.16% of the company’s stock.
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About United Technologies
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.
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