United Technologies Corporation (UTX) Position Cut by Westpac Banking Corp

Westpac Banking Corp reduced its position in United Technologies Corporation (NYSE:UTX) by 81.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 147,108 shares of the conglomerate’s stock after selling 635,841 shares during the period. Westpac Banking Corp’s holdings in United Technologies were worth $17,963,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in UTX. Harbour Capital Advisors LLC grew its holdings in United Technologies by 11,652.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock valued at $17,420,000 after buying an additional 2,109,056 shares in the last quarter. Flossbach Von Storch AG grew its holdings in shares of United Technologies by 95.6% during the second quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock worth $197,453,000 after purchasing an additional 790,496 shares in the last quarter. Swiss National Bank grew its holdings in shares of United Technologies by 25.2% during the first quarter. Swiss National Bank now owns 2,771,721 shares of the conglomerate’s stock worth $311,015,000 after purchasing an additional 557,300 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of United Technologies during the first quarter worth about $40,211,000. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of United Technologies by 11.8% during the first quarter. UBS Asset Management Americas Inc. now owns 2,858,758 shares of the conglomerate’s stock worth $320,781,000 after purchasing an additional 301,484 shares in the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.

In other United Technologies news, VP Robert J. Bailey sold 827 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Akhil Johri sold 5,979 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the completion of the transaction, the vice president now directly owns 23,295 shares in the company, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,792 shares of company stock worth $1,182,520. Insiders own 0.16% of the company’s stock.

Shares of United Technologies Corporation (NYSE UTX) traded up $1.20 during mid-day trading on Thursday, reaching $122.40. The company had a trading volume of 3,608,329 shares, compared to its average volume of 3,038,544. The stock has a market capitalization of $97,740.00, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.07. United Technologies Corporation has a 12 month low of $106.85 and a 12 month high of $124.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the prior year, the firm earned $1.76 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. equities research analysts predict that United Technologies Corporation will post 6.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be paid a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.29%. United Technologies’s dividend payout ratio is currently 43.34%.

UTX has been the subject of several recent analyst reports. Royal Bank Of Canada reissued a “hold” rating and set a $125.00 price objective on shares of United Technologies in a report on Sunday, August 13th. Jefferies Group reaffirmed a “buy” rating and issued a $139.00 target price on shares of United Technologies in a research note on Tuesday, August 29th. Credit Suisse Group reaffirmed a “neutral” rating on shares of United Technologies in a research note on Friday, September 1st. Vertical Research lowered United Technologies from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research note on Tuesday, September 5th. Finally, Cowen reaffirmed a “buy” rating and issued a $127.00 target price on shares of United Technologies in a research note on Tuesday, September 5th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. United Technologies has a consensus rating of “Hold” and a consensus price target of $125.15.

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United Technologies Profile

United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.

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

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