Daiwa Securities Group Inc. lifted its stake in shares of United Technologies Co. (NYSE:UTX) by 10.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,315 shares of the conglomerate’s stock after purchasing an additional 6,152 shares during the quarter. Daiwa Securities Group Inc.’s holdings in United Technologies were worth $8,644,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Donaldson Capital Management LLC boosted its position in United Technologies by 0.6% during the 3rd quarter. Donaldson Capital Management LLC now owns 21,174 shares of the conglomerate’s stock worth $2,891,000 after buying an additional 116 shares during the period. James Hambro & Partners acquired a new stake in United Technologies during the 3rd quarter worth approximately $32,161,000. Keeler Thomas Management LLC boosted its position in United Technologies by 9.7% during the 3rd quarter. Keeler Thomas Management LLC now owns 12,202 shares of the conglomerate’s stock worth $1,665,000 after buying an additional 1,078 shares during the period. Appleton Partners Inc. MA boosted its position in United Technologies by 18.6% during the 3rd quarter. Appleton Partners Inc. MA now owns 32,828 shares of the conglomerate’s stock worth $4,482,000 after buying an additional 5,141 shares during the period. Finally, Rosenbaum Jay D. boosted its position in United Technologies by 1.4% during the 3rd quarter. Rosenbaum Jay D. now owns 9,253 shares of the conglomerate’s stock worth $1,263,000 after buying an additional 125 shares during the period. 80.62% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the stock. Credit Suisse Group set a $162.00 target price on shares of United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America restated a “buy” rating and issued a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target on the stock. in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their price target on shares of United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein boosted their price target on shares of United Technologies from $143.00 to $154.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 17th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $154.69.
Shares of United Technologies stock traded up $0.15 during trading on Friday, reaching $148.88. 1,691,511 shares of the company traded hands, compared to its average volume of 3,289,642. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $149.35. The company has a 50 day moving average price of $138.45 and a 200-day moving average price of $133.57. The firm has a market capitalization of $127.63 billion, a PE ratio of 19.56, a P/E/G ratio of 2.07 and a beta of 1.22.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.18. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.31 billion. During the same quarter in the previous year, the company earned $1.93 EPS. United Technologies’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities research analysts expect that United Technologies Co. will post 8.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, November 14th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 1.97%. United Technologies’s payout ratio is presently 38.63%.
In other United Technologies news, CFO Akhil Johri sold 4,680 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $135.29, for a total transaction of $633,157.20. Following the completion of the sale, the chief financial officer now owns 67,345 shares in the company, valued at approximately $9,111,105.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 27,987 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $147.79, for a total transaction of $4,136,198.73. Following the sale, the chief executive officer now owns 287,649 shares of the company’s stock, valued at approximately $42,511,645.71. The disclosure for this sale can be found here. Insiders have sold a total of 184,007 shares of company stock valued at $25,720,285 in the last 90 days. 0.15% of the stock is currently 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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