Pittenger & Anderson Inc. increased its stake in United Technologies Co. (NYSE:UTX) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,397 shares of the conglomerate’s stock after buying an additional 1,570 shares during the quarter. Pittenger & Anderson Inc.’s holdings in United Technologies were worth $7,186,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. LPL Financial LLC grew its stake in United Technologies by 20.0% during the 1st quarter. LPL Financial LLC now owns 202,729 shares of the conglomerate’s stock valued at $25,507,000 after purchasing an additional 33,739 shares in the last quarter. Mariner LLC grew its stake in United Technologies by 13.9% during the 1st quarter. Mariner LLC now owns 29,293 shares of the conglomerate’s stock valued at $3,687,000 after purchasing an additional 3,579 shares in the last quarter. Kovack Advisors Inc. grew its stake in United Technologies by 53.3% during the 1st quarter. Kovack Advisors Inc. now owns 2,799 shares of the conglomerate’s stock valued at $352,000 after purchasing an additional 973 shares in the last quarter. Freestone Capital Holdings LLC grew its stake in United Technologies by 9.5% during the 1st quarter. Freestone Capital Holdings LLC now owns 45,476 shares of the conglomerate’s stock valued at $5,722,000 after purchasing an additional 3,950 shares in the last quarter. Finally, Amussen Hunsaker Associates LLC grew its stake in United Technologies by 5.0% during the 1st quarter. Amussen Hunsaker Associates LLC now owns 12,840 shares of the conglomerate’s stock valued at $1,616,000 after purchasing an additional 611 shares in the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.
A number of brokerages have weighed in on UTX. UBS Group began coverage on United Technologies in a research note on Wednesday, August 15th. They set a “buy” rating for the company. Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a report on Thursday, October 4th. Morgan Stanley initiated coverage on United Technologies in a report on Friday, June 15th. They set an “overweight” rating and a $160.00 target price on the stock. Wolfe Research initiated coverage on United Technologies in a report on Wednesday, June 27th. They set an “outperform” rating on the stock. Finally, ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $149.70.
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 value of $465,590.96. Following the sale, the chief financial officer now owns 43,403 shares of the company’s stock, valued at approximately $5,894,995.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Charles D. Gill sold 14,255 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the completion of the sale, the vice president now directly owns 55,029 shares in the company, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. In the last three months, insiders sold 18,511 shares of company stock worth $2,521,974. Company insiders own 0.17% of the company’s stock.
NYSE:UTX opened at $129.63 on Friday. 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 Co. has a 52 week low of $115.40 and a 52 week high of $144.15. The company has a market cap of $111.86 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.12 and a beta of 0.98.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The company had revenue of $16.71 billion for the quarter, compared to the consensus estimate of $16.26 billion. During the same quarter last year, the business posted $1.85 EPS. United Technologies’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts forecast that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued 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 an increase from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is currently 42.11%.
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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