Comprehensive Portfolio Management LLC lifted its position in United Technologies Co. (NYSE:UTX) by 246.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,368 shares of the conglomerate’s stock after buying an additional 5,241 shares during the quarter. Comprehensive Portfolio Management LLC’s holdings in United Technologies were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Sun Life Financial INC lifted its stake in shares of United Technologies by 546.5% in the second quarter. Sun Life Financial INC now owns 6,265 shares of the conglomerate’s stock worth $784,000 after buying an additional 5,296 shares during the last quarter. Pennsylvania Trust Co lifted its stake in shares of United Technologies by 0.4% in the third quarter. Pennsylvania Trust Co now owns 103,636 shares of the conglomerate’s stock worth $14,489,000 after buying an additional 410 shares during the last quarter. Martin Investment Management LLC lifted its stake in shares of United Technologies by 2.3% in the second quarter. Martin Investment Management LLC now owns 89,070 shares of the conglomerate’s stock worth $11,136,000 after buying an additional 1,988 shares during the last quarter. Lcnb Corp lifted its stake in shares of United Technologies by 13.2% in the second quarter. Lcnb Corp now owns 8,185 shares of the conglomerate’s stock worth $1,023,000 after buying an additional 955 shares during the last quarter. Finally, Grassi Investment Management acquired a new stake in shares of United Technologies in the second quarter worth $7,044,000. Institutional investors and hedge funds own 81.68% of the company’s stock.
A number of analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of United Technologies in a research note on Wednesday, August 15th. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $158.00 price objective for the company in a research note on Thursday, October 4th. Morgan Stanley started coverage on shares of United Technologies in a research note on Friday, June 15th. They issued an “overweight” rating and a $160.00 price objective for the company. Wolfe Research started coverage on shares of United Technologies in a research report on Wednesday, June 27th. They set an “outperform” rating on the stock. Finally, ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $149.70.
Shares of UTX stock opened at $129.63 on Friday. United Technologies Co. has a 1 year low of $115.40 and a 1 year high of $144.15. The firm has a market cap of $111.86 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.12 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46.
United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The business had revenue of $16.71 billion for the quarter, compared to analyst estimates of $16.26 billion. During the same quarter in the previous year, the firm posted $1.85 earnings per share. United Technologies’s revenue was up 9.3% compared to the same quarter last year. Analysts predict that United Technologies Co. will post 7.23 EPS for the current year.
The business also recently announced 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 dividend on an annualized basis and a yield of 2.27%. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s payout ratio is 42.11%.
In other United Technologies news, VP Robert J. Bailey sold 828 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total value of $111,573.00. Following the sale, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $269,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akhil Johri sold 3,428 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total transaction of $465,590.96. Following the completion of the sale, the chief financial officer now directly owns 43,403 shares in the company, valued at approximately $5,894,995.46. The disclosure for this sale can be found here. Insiders have sold 18,511 shares of company stock worth $2,521,974 in the last ninety days. 0.17% of the stock is currently owned by insiders.
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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