Boston Partners trimmed its holdings in United Technologies Co. (NYSE:UTX) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,348,729 shares of the conglomerate’s stock after selling 118,690 shares during the period. Boston Partners owned 0.67% of United Technologies worth $682,337,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Beach Investment Management LLC. acquired a new stake in United Technologies during the 2nd quarter worth approximately $434,000. Sfmg LLC acquired a new stake in United Technologies during the 2nd quarter worth approximately $330,000. Robeco Institutional Asset Management B.V. lifted its holdings in United Technologies by 2.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 32,344 shares of the conglomerate’s stock worth $3,951,000 after purchasing an additional 623 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in United Technologies by 14.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 184,004 shares of the conglomerate’s stock worth $22,469,000 after purchasing an additional 23,623 shares during the last quarter. Finally, BDO Wealth Advisors LLC acquired a new stake in United Technologies during the 2nd quarter worth approximately $844,000. 82.38% of the stock is owned by institutional investors.
In other news, VP Robert J. Bailey sold 636 shares of United Technologies stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $124.35, for a total value of $79,086.60. Following the transaction, the vice president now owns 1,500 shares in the company, valued at approximately $186,525. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Elizabeth B. Amato sold 4,341 shares of United Technologies stock in a transaction on Friday, December 15th. The shares were sold at an average price of $125.92, for a total value of $546,618.72. Following the completion of the transaction, the executive vice president now owns 29,122 shares in the company, valued at approximately $3,667,042.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,292 shares of company stock worth $1,064,829. Corporate insiders own 0.16% of the company’s stock.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same quarter last year, the company posted $1.56 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities research analysts anticipate that United Technologies Co. will post 7.05 earnings per share for the current fiscal year.
The firm also recently declared 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 was Thursday, February 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.13%. United Technologies’s payout ratio is 42.68%.
Several analysts recently weighed in on UTX shares. Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Cowen reissued a “hold” rating and set a $141.00 price target on shares of United Technologies in a report on Sunday, February 11th. Sanford C. Bernstein reissued a “positive” rating and set a $153.00 price target (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Barclays initiated coverage on United Technologies in a report on Thursday, February 15th. They set an “overweight” rating and a $157.00 price target for the company. Finally, Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a report on Saturday, January 20th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $137.20.
ILLEGAL ACTIVITY NOTICE: “United Technologies Co. (UTX) Stake Lessened by Boston Partners” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.americanbankingnews.com/2018/03/13/united-technologies-co-utx-stake-lessened-by-boston-partners.html.
United Technologies 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. 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.