Marshall & Sullivan Inc. WA cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,559 shares of the conglomerate’s stock after selling 180 shares during the period. United Technologies makes up about 2.6% of Marshall & Sullivan Inc. WA’s investment portfolio, making the stock its 19th largest holding. Marshall & Sullivan Inc. WA’s holdings in United Technologies were worth $3,041,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC grew its holdings in United Technologies by 2.7% during the 2nd quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock worth $3,308,428,000 after acquiring an additional 707,417 shares during the last quarter. Berkshire Asset Management LLC PA raised its holdings in United Technologies by 14.4% during the third quarter. Berkshire Asset Management LLC PA now owns 6,877 shares of the conglomerate’s stock worth $961,000 after buying an additional 868 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of United Technologies by 2.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 80,003 shares of the conglomerate’s stock valued at $11,185,000 after purchasing an additional 1,859 shares during the last quarter. Delaney Dennis R raised its holdings in shares of United Technologies by 12.4% in the third quarter. Delaney Dennis R now owns 13,790 shares of the conglomerate’s stock valued at $1,927,000 after purchasing an additional 1,525 shares during the last quarter. Finally, Page Arthur B raised its holdings in shares of United Technologies by 21.9% in the third quarter. Page Arthur B now owns 18,020 shares of the conglomerate’s stock valued at $2,519,000 after purchasing an additional 3,241 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a research report on Wednesday, January 30th. Royal Bank of Canada raised their price objective on shares of United Technologies to $129.00 and gave the company a “sector perform” rating in a research report on Thursday, January 24th. Robert W. Baird cut their price objective on shares of United Technologies from $167.00 to $149.00 and set an “outperform” rating for the company in a research report on Wednesday, November 28th. Bank of America set a $180.00 target price on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, November 27th. Finally, OTR Global downgraded shares of United Technologies to a “positive” rating in a research note on Friday, January 18th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $144.85.
In other news, VP Robert J. Bailey sold 862 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $121.71, for a total value of $104,914.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael R. Dumais sold 9,620 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $119.12, for a total value of $1,145,934.40. Following the completion of the transaction, the executive vice president now owns 35,627 shares of the company’s stock, valued at $4,243,888.24. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.
NYSE UTX opened at $122.72 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 1.01. The company has a market cap of $105.56 billion, a PE ratio of 16.13, a PEG ratio of 1.76 and a beta of 1.17. United Technologies Co. has a one year low of $100.48 and a one year high of $144.15.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.42. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The company had revenue of $18.04 billion for the quarter, compared to analyst estimates of $16.87 billion. During the same quarter in the prior year, the firm posted $1.60 EPS. United Technologies’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts expect that United Technologies Co. will post 7.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 10th. Investors of record on Friday, February 15th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, February 14th. United Technologies’s payout ratio is currently 38.63%.
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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