Northstar Asset Management LLC Trims Stake in United Technologies Co. (UTX)

Northstar Asset Management LLC cut its holdings in United Technologies Co. (NYSE:UTX) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,113 shares of the conglomerate’s stock after selling 3,044 shares during the period. United Technologies comprises 1.3% of Northstar Asset Management LLC’s holdings, making the stock its 18th largest holding. Northstar Asset Management LLC’s holdings in United Technologies were worth $3,372,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of UTX. Credit Agricole S A boosted its stake in shares of United Technologies by 101.4% during the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after purchasing an additional 436 shares during the period. Jolley Asset Management LLC purchased a new position in shares of United Technologies during the 2nd quarter worth about $114,000. Fort L.P. purchased a new position in shares of United Technologies during the 2nd quarter worth about $120,000. WP Advisors LLC purchased a new position in shares of United Technologies during the 2nd quarter worth about $126,000. Finally, Kiley Juergens Wealth Management LLC purchased a new position in shares of United Technologies during the 2nd quarter worth about $127,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.

A number of equities analysts recently commented on UTX shares. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. ValuEngine cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Robert W. Baird lifted their price target on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, September 20th. Finally, Royal Bank of Canada dropped their price target on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $151.90.

United Technologies stock opened at $130.71 on Friday. The stock has a market capitalization of $102.48 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 1.94 and a beta of 1.09. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17. United Technologies Co. has a 1 year low of $115.40 and a 1 year high of $144.15.

United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 EPS. As a group, research analysts expect that United Technologies Co. will post 7.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.25%. This is a boost from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, November 15th. United Technologies’s payout ratio is 42.11%.

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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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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