Comerica Bank cut its position in shares of United Technologies Co. (NYSE:UTX) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,665 shares of the conglomerate’s stock after selling 6,144 shares during the quarter. Comerica Bank’s holdings in United Technologies were worth $35,367,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Knowledge Leaders Capital LLC acquired a new stake in shares of United Technologies in the third quarter valued at about $105,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of United Technologies in the third quarter valued at about $118,000. Thompson Davis & CO. Inc. grew its stake in shares of United Technologies by 750.4% in the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after buying an additional 953 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of United Technologies by 3.8% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock valued at $133,000 after buying an additional 40 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV grew its stake in shares of United Technologies by 0.3% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after buying an additional 3 shares in the last quarter. Institutional investors own 82.38% of the company’s stock.
United Technologies Co. (NYSE:UTX) opened at $131.50 on Tuesday. The company has a market capitalization of $105,170.00, a PE ratio of 20.05, a P/E/G ratio of 2.21 and a beta of 1.05. United Technologies Co. has a 1-year low of $109.10 and a 1-year high of $139.24. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Thursday, February 15th. United Technologies’s dividend payout ratio is presently 42.68%.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.95, for a total transaction of $274,218.40. Following the transaction, the vice president now owns 4,900 shares of the company’s stock, valued at approximately $661,255. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert J. Bailey sold 864 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $126.01, for a total value of $108,872.64. Following the transaction, the vice president now directly owns 2,000 shares in the company, valued at approximately $252,020. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,292 shares of company stock worth $1,064,829. 0.16% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on UTX. Sanford C. Bernstein reiterated a “positive” rating and issued a $153.00 target price (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Barclays increased their target price on United Technologies from $157.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $146.00 target price (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Royal Bank of Canada upgraded United Technologies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Finally, UBS Group assumed coverage on United Technologies in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $137.20.
TRADEMARK VIOLATION WARNING: “United Technologies Co. (UTX) Shares Sold by Comerica Bank” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/03/13/united-technologies-co-utx-shares-sold-by-comerica-bank.html.
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.
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.