WESPAC Advisors LLC trimmed its stake in shares of United Technologies Co. (NYSE:UTX) by 30.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 15,259 shares of the conglomerate’s stock after selling 6,679 shares during the quarter. United Technologies comprises about 1.8% of WESPAC Advisors LLC’s portfolio, making the stock its 15th biggest holding. WESPAC Advisors LLC’s holdings in United Technologies were worth $1,947,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in UTX. Pacer Advisors Inc. increased its stake in shares of United Technologies by 8.4% in the second quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock valued at $2,281,000 after buying an additional 1,447 shares during the period. 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 worth $4,945,000 after acquiring an additional 6,853 shares in 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 worth $80,873,000 after acquiring an additional 10,300 shares in the last quarter. Bridgewater Associates LP bought a new position in United Technologies in the second quarter worth approximately $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 worth $22,469,000 after acquiring an additional 23,623 shares in the last quarter. Hedge funds and other institutional investors own 82.38% of the company’s stock.
In other United Technologies news, EVP Elizabeth B. Amato sold 4,341 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $125.92, for a total value of $546,618.72. Following the completion of the sale, the executive vice president now owns 29,122 shares in the company, valued at approximately $3,667,042.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Bailey sold 864 shares of the stock in a transaction on Friday, December 15th. The stock was 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 of the company’s stock, valued at approximately $252,020. The disclosure for this sale can be found here. Insiders sold a total of 7,656 shares of company stock valued at $985,743 over the last 90 days. 0.16% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on UTX shares. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Goldman Sachs Group raised United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Stifel Nicolaus reissued a “hold” rating and issued a $146.00 target price (up from $124.00) on shares of United Technologies in a research report on Thursday, January 25th. Cowen reissued a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research report on Thursday, January 25th. Finally, Barclays initiated coverage on United Technologies in a research report on Thursday, February 15th. They issued an “overweight” rating and a $157.00 price target for the company. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $137.20.
United Technologies Co. (UTX) traded down $0.57 during mid-day trading on Wednesday, hitting $129.58. The company’s stock had a trading volume of 3,243,248 shares, compared to its average volume of 5,183,542. 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 1 year low of $109.10 and a 1 year high of $139.24. The stock has a market cap of $103,730.00, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. The firm had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 EPS. research analysts forecast that United Technologies Co. will post 7.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 16th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.16%. 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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