Trust Co lifted its holdings in shares of United Technologies Co. (NYSE:UTX) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,904 shares of the conglomerate’s stock after purchasing an additional 1,251 shares during the quarter. Trust Co’s holdings in United Technologies were worth $2,630,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in UTX. Viking Global Investors LP raised its position in shares of United Technologies by 42.7% during the fourth quarter. Viking Global Investors LP now owns 5,963,163 shares of the conglomerate’s stock worth $760,721,000 after purchasing an additional 1,784,355 shares during the period. Mackenzie Financial Corp grew its holdings in shares of United Technologies by 3,794.3% during the fourth quarter. Mackenzie Financial Corp now owns 1,617,082 shares of the conglomerate’s stock worth $206,291,000 after buying an additional 1,575,558 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of United Technologies by 70.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,407,472 shares of the conglomerate’s stock worth $307,122,000 after buying an additional 995,075 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of United Technologies by 274.9% during the first quarter. Toronto Dominion Bank now owns 1,312,403 shares of the conglomerate’s stock worth $165,087,000 after buying an additional 962,376 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of United Technologies by 1.8% during the fourth quarter. BlackRock Inc. now owns 46,850,302 shares of the conglomerate’s stock worth $5,976,695,000 after buying an additional 822,595 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors.
United Technologies traded up $0.38, reaching $127.06, during mid-day trading on Tuesday, MarketBeat Ratings reports. The company had a trading volume of 3,197,267 shares, compared to its average volume of 4,468,586. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 0.77. United Technologies Co. has a 52 week low of $109.10 and a 52 week high of $139.24. The company has a market cap of $100.33 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 1.93 and a beta of 1.09.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, April 24th. The conglomerate reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.26. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The company had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $14.62 billion. During the same period in the previous year, the company posted $1.48 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. equities research analysts anticipate that United Technologies Co. will post 7.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. United Technologies’s dividend payout ratio is currently 42.11%.
In other news, insider Robert J. Mcdonough sold 10,770 shares of United Technologies stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $119.09, for a total transaction of $1,282,599.30. Following the completion of the transaction, the insider now directly owns 40,612 shares in the company, valued at approximately $4,836,483.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth B. Amato sold 6,557 shares of United Technologies stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $123.86, for a total value of $812,150.02. The disclosure for this sale can be found here. Insiders have sold a total of 33,286 shares of company stock valued at $4,143,938 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.
UTX has been the subject of a number of research reports. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a report on Friday, June 1st. Daiwa Capital Markets upgraded United Technologies from a “hold” rating to an “outperform” rating in a report on Tuesday, May 8th. Cowen reiterated a “hold” rating and set a $141.00 price objective on shares of United Technologies in a report on Tuesday, April 24th. Jefferies Financial Group set a $157.00 price target on United Technologies and gave the company a “buy” rating in a research note on Tuesday. Finally, UBS Group set a $155.00 price target on United Technologies and gave the company a “buy” rating in a research note on Thursday, March 15th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $141.69.
About United Technologies
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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