Oppenheimer Asset Management Inc. boosted its stake in shares of United Technologies Co. (NYSE:UTX) by 37.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,699 shares of the conglomerate’s stock after purchasing an additional 16,535 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in United Technologies were worth $7,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Almanack Investment Partners LLC. acquired a new stake in United Technologies in the fourth quarter worth about $103,000. Silvant Capital Management LLC acquired a new stake in United Technologies in the first quarter worth about $113,000. Wealthcare Advisory Partners LLC acquired a new stake in United Technologies in the third quarter worth about $118,000. Centerpoint Advisors LLC acquired a new stake in United Technologies in the first quarter worth about $131,000. Finally, Taylor Hoffman Wealth Management acquired a new stake in United Technologies in the fourth quarter worth about $140,000. 82.20% of the stock is currently owned by institutional investors.
Shares of United Technologies opened at $127.03 on Friday, Marketbeat reports. United Technologies Co. has a 52-week low of $109.10 and a 52-week high of $139.24. The stock has a market capitalization of $101.93 billion, a PE ratio of 18.33, a PEG ratio of 1.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.32 and a quick ratio of 0.96.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.26. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The firm had revenue of $15.24 billion during the quarter, compared to analysts’ expectations of $14.62 billion. During the same period last year, the business posted $1.48 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. equities analysts predict that United Technologies Co. will post 7.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Friday, May 18th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, May 17th. United Technologies’s payout ratio is 42.11%.
Several brokerages have weighed in on UTX. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. Daiwa Capital Markets raised United Technologies from a “hold” rating to an “outperform” rating in a report on Tuesday, May 8th. ValuEngine downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Stifel Nicolaus lowered their price target on United Technologies from $131.00 to $127.00 and set a “hold” rating for the company in a report on Wednesday, April 25th. Finally, Cowen reissued a “hold” rating and issued a $141.00 price target on shares of United Technologies in a report on Tuesday, April 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $137.64.
In related news, VP Charles D. Gill sold 9,700 shares of United Technologies stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $128.47, for a total transaction of $1,246,159.00. Following the completion of the transaction, the vice president now directly owns 25,029 shares in the company, valued at $3,215,475.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akhil Johri sold 6,259 shares of United Technologies stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $128.30, for a total value of $803,029.70. Following the transaction, the chief financial officer now owns 47,088 shares of the company’s stock, valued at $6,041,390.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,318 shares of company stock valued at $4,418,156. Company insiders own 0.17% of the company’s stock.
About United Technologies
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.
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.