Murphy Capital Management Inc. reduced its holdings in United Technologies Co. (NYSE:UTX) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,653 shares of the conglomerate’s stock after selling 3,098 shares during the quarter. United Technologies accounts for about 1.5% of Murphy Capital Management Inc.’s investment portfolio, making the stock its 20th largest position. Murphy Capital Management Inc.’s holdings in United Technologies were worth $10,716,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sun Life Financial INC increased its stake in United Technologies by 546.5% in the 2nd quarter. Sun Life Financial INC now owns 6,265 shares of the conglomerate’s stock worth $784,000 after acquiring an additional 5,296 shares during the last quarter. Martin Investment Management LLC increased its stake in United Technologies by 2.3% in the 2nd quarter. Martin Investment Management LLC now owns 89,070 shares of the conglomerate’s stock worth $11,136,000 after acquiring an additional 1,988 shares during the last quarter. Pennsylvania Trust Co increased its stake in United Technologies by 0.4% in the 3rd quarter. Pennsylvania Trust Co now owns 103,636 shares of the conglomerate’s stock worth $14,489,000 after acquiring an additional 410 shares during the last quarter. Lcnb Corp increased its stake in United Technologies by 13.2% in the 2nd quarter. Lcnb Corp now owns 8,185 shares of the conglomerate’s stock worth $1,023,000 after acquiring an additional 955 shares during the last quarter. Finally, Grassi Investment Management bought a new position in United Technologies in the 2nd quarter worth about $7,044,000. Institutional investors and hedge funds own 81.68% of the company’s stock.
Shares of United Technologies stock opened at $131.12 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46. The stock has a market cap of $111.86 billion, a PE ratio of 19.72, a PEG ratio of 2.12 and a beta of 0.98. United Technologies Co. has a 12 month low of $115.40 and a 12 month high of $144.15.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, beating the consensus estimate of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The firm had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. During the same period in the prior year, the company earned $1.85 EPS. The company’s revenue was up 9.3% on a year-over-year basis. Research analysts forecast that United Technologies Co. will post 7.23 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.24%. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is presently 42.11%.
In related news, CFO Akhil Johri sold 3,428 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $135.82, for a total transaction of $465,590.96. Following the transaction, the chief financial officer now directly owns 43,403 shares in the company, valued at approximately $5,894,995.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Robert J. Bailey sold 828 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total value of $111,573.00. Following the transaction, the vice president now owns 2,000 shares in the company, valued at $269,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,511 shares of company stock worth $2,521,974. 0.17% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on UTX shares. Robert W. Baird increased their price objective on United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, September 20th. Morgan Stanley started coverage on United Technologies in a research report on Friday, June 15th. They set an “overweight” rating and a $160.00 price objective on the stock. Jefferies Financial Group set a $157.00 price objective on United Technologies and gave the company a “buy” rating in a research report on Tuesday, July 10th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $158.00 price objective on the stock in a research report on Thursday, October 4th. Finally, Wolfe Research started coverage on United Technologies in a research report on Wednesday, June 27th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $150.30.
United Technologies Company Profile
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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