Hemenway Trust Co LLC lifted its stake in United Technologies Co. (NYSE:UTX) by 8.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,465 shares of the conglomerate’s stock after acquiring an additional 7,316 shares during the period. United Technologies accounts for about 2.4% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 16th largest position. Hemenway Trust Co LLC’s holdings in United Technologies were worth $12,561,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of United Technologies by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after acquiring an additional 848,623 shares in the last quarter. BlackRock Inc. grew its holdings in United Technologies by 0.3% in the 2nd quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after buying an additional 133,036 shares during the last quarter. FMR LLC grew its holdings in United Technologies by 13.2% in the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after buying an additional 2,401,795 shares during the last quarter. Capital Research Global Investors grew its holdings in United Technologies by 3.6% in the 2nd quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after buying an additional 304,989 shares during the last quarter. Finally, Boston Partners grew its holdings in United Technologies by 5.3% in the 3rd quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock valued at $634,658,000 after buying an additional 274,184 shares during the last quarter. 82.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of United Technologies Co. (NYSE UTX) opened at $130.15 on Wednesday. United Technologies Co. has a fifty-two week low of $109.10 and a fifty-two week high of $139.24. The firm has a market capitalization of $104,090.00, a P/E ratio of 19.84, a PEG ratio of 2.21 and a beta of 1.05. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 16th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Thursday, February 15th. United Technologies’s payout ratio is presently 42.68%.
A number of analysts have issued reports on UTX shares. Royal Bank of Canada raised United Technologies from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Barclays raised their target price on United Technologies from $157.00 to $159.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Sanford C. Bernstein reaffirmed a “positive” rating and issued a $153.00 target price (up previously from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Finally, Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $137.20.
In related news, VP Robert J. Bailey sold 864 shares of the business’s stock in a transaction 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 sale, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $252,020. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert J. Bailey sold 419 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total value of $56,032.87. The disclosure for this sale can be found here. Insiders have sold a total of 7,656 shares of company stock worth $985,743 in the last three months. 0.16% of the stock is owned by insiders.
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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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