Conning Inc. trimmed its stake in shares of United Technologies Co. (NYSE:UTX) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 246,912 shares of the conglomerate’s stock after selling 14,882 shares during the quarter. Conning Inc.’s holdings in United Technologies were worth $31,499,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of UTX. Pacer Advisors Inc. boosted its holdings in shares of United Technologies by 8.4% during the second quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock worth $2,281,000 after purchasing an additional 1,447 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in United Technologies by 19.2% in the third quarter. Victory Capital Management Inc. now owns 42,601 shares of the conglomerate’s stock valued at $4,945,000 after acquiring an additional 6,853 shares during the last quarter. Factory Mutual Insurance Co. boosted its holdings in United Technologies by 1.7% in the fourth quarter. Factory Mutual Insurance Co. now owns 633,952 shares of the conglomerate’s stock valued at $80,873,000 after acquiring an additional 10,300 shares during the last quarter. Bridgewater Associates LP acquired a new position in United Technologies in the second quarter valued at $2,201,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in United Technologies by 14.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 184,004 shares of the conglomerate’s stock valued at $22,469,000 after acquiring an additional 23,623 shares during the last quarter. 82.38% of the stock is owned by institutional investors.
United Technologies Co. (NYSE UTX) traded down $1.14 on Wednesday, reaching $129.01. The company’s stock had a trading volume of 2,013,112 shares, compared to its average volume of 5,146,556. The firm has a market capitalization of $103,730.00, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94. United Technologies Co. has a 12-month low of $109.10 and a 12-month high of $139.24.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter in the prior year, the company earned $1.56 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. research analysts predict that United Technologies Co. will post 7.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.17%. The ex-dividend date was Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is currently 42.68%.
In related news, VP Robert J. Bailey sold 864 shares of the company’s stock in a transaction 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 directly owns 2,000 shares in the company, valued at $252,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth B. Amato sold 4,341 shares of the company’s stock in a transaction 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 $3,667,042.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,656 shares of company stock worth $985,743. Company insiders own 0.16% of the company’s stock.
A number of research analysts recently weighed in on UTX shares. Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Cowen reissued a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a research report on Sunday, February 11th. Sanford C. Bernstein reaffirmed a “positive” rating and set a $153.00 target price (up from $135.00) on shares of United Technologies in a research report on Tuesday, January 30th. Barclays started coverage on United Technologies in a research report on Thursday, February 15th. They set an “overweight” rating and a $157.00 target price on the stock. Finally, Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a report on Saturday, January 20th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $137.20.
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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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