Cullinan Associates Inc. raised its holdings in shares of United Technologies Co. (NYSE:UTX) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,870 shares of the conglomerate’s stock after buying an additional 1,468 shares during the period. United Technologies comprises approximately 0.8% of Cullinan Associates Inc.’s investment portfolio, making the stock its 24th biggest position. Cullinan Associates Inc.’s holdings in United Technologies were worth $11,465,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after buying an additional 848,623 shares in the last quarter. BlackRock Inc. lifted its position in shares of United Technologies by 0.3% in the 2nd quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after acquiring an additional 133,036 shares in the last quarter. FMR LLC lifted its position in shares of United Technologies by 13.2% in the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after acquiring an additional 2,401,795 shares in the last quarter. Capital Research Global Investors lifted its position in shares of United Technologies by 3.6% in the 2nd quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after acquiring an additional 304,989 shares in the last quarter. Finally, Boston Partners lifted its position in shares of United Technologies by 5.3% in the 3rd quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock valued at $634,658,000 after acquiring an additional 274,184 shares in the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.
In other United Technologies news, VP Robert J. Bailey sold 864 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the sale, the vice president now owns 2,000 shares in the company, valued at approximately $252,020. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth B. Amato sold 4,341 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $125.92, for a total transaction of $546,618.72. Following the completion of the sale, the executive vice president now owns 29,122 shares of the company’s stock, valued at approximately $3,667,042.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,480 shares of company stock valued at $1,658,028. Insiders own 0.16% of the company’s stock.
Several equities research analysts recently commented on UTX shares. Royal Bank of Canada upgraded shares of United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday, January 5th. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Finally, Cowen restated a “hold” rating and issued a $120.00 price target on shares of United Technologies in a research report on Friday, November 10th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. United Technologies presently has a consensus rating of “Buy” and a consensus target price of $137.07.
Shares of United Technologies Co. (NYSE:UTX) opened at $129.26 on Tuesday. United Technologies Co. has a 12-month low of $107.05 and a 12-month high of $139.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94. The stock has a market cap of $103,380.00, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08.
United Technologies (NYSE:UTX) last released its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The company had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $15.34 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. equities analysts expect that United Technologies Co. will post 7.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 16th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. United Technologies’s payout ratio is 42.68%.
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United Technologies Company 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.
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