Pettyjohn Wood & White Inc. trimmed its holdings in United Technologies Co. (NYSE:UTX) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,794 shares of the conglomerate’s stock after selling 1,003 shares during the period. United Technologies makes up 1.8% of Pettyjohn Wood & White Inc.’s investment portfolio, making the stock its 17th biggest holding. Pettyjohn Wood & White Inc.’s holdings in United Technologies were worth $5,842,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Phocas Financial Corp. purchased a new position in shares of United Technologies during the 2nd quarter valued at $25,000. Krane Funds Advisors LLC bought a new stake in shares of United Technologies during the 2nd quarter worth $26,000. Transamerica Financial Advisors Inc. bought a new stake in shares of United Technologies during the 2nd quarter worth $30,000. Quad Cities Investment Group LLC lifted its holdings in shares of United Technologies by 62.1% during the 2nd quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. Finally, American National Bank bought a new stake in shares of United Technologies during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 80.62% of the company’s stock.
A number of research firms have recently issued reports on UTX. Sanford C. Bernstein lifted their price objective on shares of United Technologies from $143.00 to $154.00 and gave the stock a “market perform” rating in a report on Tuesday, September 17th. Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of United Technologies in a report on Wednesday, September 4th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Finally, Barclays boosted their price target on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $154.69.
Shares of NYSE:UTX traded up $0.15 during midday trading on Friday, hitting $148.88. 1,700,162 shares of the stock traded hands, compared to its average volume of 3,289,642. United Technologies Co. has a one year low of $100.48 and a one year high of $149.35. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $138.45 and its two-hundred day moving average is $133.57. The stock 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 announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $19.31 billion. During the same quarter in the previous year, the company earned $1.93 earnings per share. United Technologies’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts forecast that United Technologies Co. will post 8.13 earnings per share for the current year.
The business also recently declared 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. This represents a $2.94 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, November 14th. United Technologies’s dividend payout ratio is currently 38.63%.
In other United Technologies news, CFO Akhil Johri sold 4,680 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $135.29, for a total value of $633,157.20. Following the sale, the chief financial officer now owns 67,345 shares in the company, valued at $9,111,105.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Charles D. Gill sold 26,542 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $131.42, for a total transaction of $3,488,149.64. Following the completion of the sale, the vice president now owns 103,458 shares in the company, valued at approximately $13,596,450.36. The disclosure for this sale can be found here. Insiders have sold 185,306 shares of company stock worth $25,914,056 in the last quarter. 0.15% of the stock is owned by corporate insiders.
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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