Torray LLC Reduces Stake in United Technologies Co. (UTX)

Torray LLC lowered its stake in shares of United Technologies Co. (NYSE:UTX) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 151,371 shares of the conglomerate’s stock after selling 3,153 shares during the period. United Technologies makes up 2.1% of Torray LLC’s investment portfolio, making the stock its 17th biggest holding. Torray LLC’s holdings in United Technologies were worth $21,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Credit Agricole S A increased its position in shares of United Technologies by 101.4% during the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after acquiring an additional 436 shares in the last quarter. Jolley Asset Management LLC bought a new stake in shares of United Technologies during the second quarter worth about $114,000. Fort L.P. bought a new stake in shares of United Technologies during the second quarter worth about $120,000. WP Advisors LLC bought a new stake in shares of United Technologies during the second quarter worth about $126,000. Finally, Kiley Juergens Wealth Management LLC bought a new stake in shares of United Technologies during the second quarter worth about $127,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.

Shares of UTX stock opened at $130.71 on Friday. United Technologies Co. has a 52-week low of $115.40 and a 52-week high of $144.15. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $104.57 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.98 and a beta of 1.09.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The business had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the prior year, the firm posted $1.73 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that United Technologies Co. will post 7.27 EPS for the current year.

The company 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 dividend on an annualized basis and a yield of 2.25%. This is an increase from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, November 15th. United Technologies’s dividend payout ratio is presently 42.11%.

Several research firms have recently commented on UTX. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Royal Bank of Canada decreased their target price on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. ValuEngine downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Robert W. Baird boosted their target price on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, September 20th. Finally, UBS Group began coverage on shares of United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $151.90.

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

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