Farmers & Merchants Investments Inc. increased its stake in shares of United Technologies Co. (NYSE:UTX) by 10.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,195 shares of the conglomerate’s stock after buying an additional 4,747 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in United Technologies were worth $6,341,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Headinvest LLC boosted its holdings in shares of United Technologies by 264.6% during the 4th quarter. Headinvest LLC now owns 48,202 shares of the conglomerate’s stock valued at $5,133,000 after acquiring an additional 34,980 shares in the last quarter. Ingalls & Snyder LLC boosted its holdings in shares of United Technologies by 4.2% during the 1st quarter. Ingalls & Snyder LLC now owns 113,027 shares of the conglomerate’s stock valued at $14,568,000 after acquiring an additional 4,504 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new stake in shares of United Technologies during the 4th quarter valued at $70,000. Drexel Morgan & Co. boosted its holdings in shares of United Technologies by 4.1% during the 4th quarter. Drexel Morgan & Co. now owns 12,530 shares of the conglomerate’s stock valued at $1,334,000 after acquiring an additional 491 shares in the last quarter. Finally, Signet Investment Advisory Group Inc. acquired a new stake in shares of United Technologies during the 4th quarter valued at $403,000. 80.67% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on UTX. Barclays raised their price objective on United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Morgan Stanley raised their price objective on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a report on Friday, April 26th. William Blair reissued a “hold” rating on shares of United Technologies in a report on Monday. Finally, Seaport Global Securities raised United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Monday. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $150.23.
Shares of NYSE:UTX opened at $124.07 on Thursday. The firm has a market cap of $113.95 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.13 and a quick ratio of 0.79. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40.
United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.20. The business had revenue of $18.37 billion during the quarter, compared to analyst estimates of $18.01 billion. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. United Technologies’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the company earned $1.77 EPS. Analysts expect that United Technologies Co. will post 7.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, August 15th. United Technologies’s dividend payout ratio is currently 38.63%.
In related news, VP Robert J. Bailey sold 1,418 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $126.20, for a total transaction of $178,951.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by company insiders.
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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