Grassi Investment Management raised its holdings in shares of United Technologies Co. (NYSE:UTX) by 1.6% in the 3rd quarter, Holdings Channel reports. The firm owned 57,216 shares of the conglomerate’s stock after purchasing an additional 876 shares during the quarter. Grassi Investment Management’s holdings in United Technologies were worth $7,999,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in UTX. LPL Financial LLC lifted its position in shares of United Technologies by 20.0% during the first quarter. LPL Financial LLC now owns 202,729 shares of the conglomerate’s stock worth $25,507,000 after purchasing an additional 33,739 shares during the last quarter. Mariner LLC lifted its position in shares of United Technologies by 13.9% during the first quarter. Mariner LLC now owns 29,293 shares of the conglomerate’s stock worth $3,687,000 after purchasing an additional 3,579 shares during the last quarter. Kovack Advisors Inc. lifted its position in shares of United Technologies by 53.3% during the first quarter. Kovack Advisors Inc. now owns 2,799 shares of the conglomerate’s stock worth $352,000 after purchasing an additional 973 shares during the last quarter. Freestone Capital Holdings LLC lifted its position in shares of United Technologies by 9.5% during the first quarter. Freestone Capital Holdings LLC now owns 45,476 shares of the conglomerate’s stock worth $5,722,000 after purchasing an additional 3,950 shares during the last quarter. Finally, Amussen Hunsaker Associates LLC lifted its position in shares of United Technologies by 5.0% during the first quarter. Amussen Hunsaker Associates LLC now owns 12,840 shares of the conglomerate’s stock worth $1,616,000 after purchasing an additional 611 shares during the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.
Several analysts have recently weighed in on UTX shares. Morgan Stanley started coverage on United Technologies in a research report on Friday, June 15th. They set an “overweight” rating and a $160.00 target price for the company. Wolfe Research assumed coverage on United Technologies in a report on Wednesday, June 27th. They issued an “outperform” rating for the company. Jefferies Financial Group set a $157.00 price objective on United Technologies and gave the company a “buy” rating in a report on Tuesday, July 10th. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Finally, ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. United Technologies has a consensus rating of “Buy” and an average price target of $149.70.
UTX stock opened at $129.63 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $111.86 billion, a P/E ratio of 19.49, a PEG ratio of 2.12 and a beta of 0.98. United Technologies Co. has a 1-year low of $115.40 and a 1-year high of $144.15.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.12. The firm had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. On average, sell-side analysts anticipate that United Technologies Co. will post 7.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a $0.735 dividend. This is an increase from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 dividend on an annualized basis and a yield of 2.27%. United Technologies’s payout ratio is currently 42.11%.
In other United Technologies news, VP Charles D. Gill sold 14,255 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $136.43, for a total value of $1,944,809.65. Following the completion of the transaction, the vice president now directly owns 55,029 shares in the company, valued at $7,507,606.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 828 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total transaction of $111,573.00. Following the completion of the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $269,500. The disclosure for this sale can be found here. Insiders sold 18,511 shares of company stock valued at $2,521,974 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.
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.
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