Legacy Advisors LLC lowered its stake in United Technologies Co. (NYSE:UTX) by 72.5% during the first quarter, HoldingsChannel.com reports. The fund owned 625 shares of the conglomerate’s stock after selling 1,650 shares during the quarter. Legacy Advisors LLC’s holdings in United Technologies were worth $81,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Dalton Greiner Hartman Maher & Co. boosted its stake in United Technologies by 436.4% during the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 69,230 shares of the conglomerate’s stock worth $8,923,000 after purchasing an additional 56,323 shares during the last quarter. Chesley Taft & Associates LLC boosted its stake in United Technologies by 8.9% during the 1st quarter. Chesley Taft & Associates LLC now owns 116,787 shares of the conglomerate’s stock worth $15,053,000 after purchasing an additional 9,519 shares during the last quarter. Global Trust Asset Management LLC boosted its stake in United Technologies by 38.2% during the 1st quarter. Global Trust Asset Management LLC now owns 9,912 shares of the conglomerate’s stock worth $1,278,000 after purchasing an additional 2,740 shares during the last quarter. Bridge Creek Capital Management LLC boosted its stake in United Technologies by 1.4% during the 1st quarter. Bridge Creek Capital Management LLC now owns 18,427 shares of the conglomerate’s stock worth $2,375,000 after purchasing an additional 246 shares during the last quarter. Finally, Trust Department MB Financial Bank N A boosted its stake in United Technologies by 24.4% during the 1st quarter. Trust Department MB Financial Bank N A now owns 1,385 shares of the conglomerate’s stock worth $179,000 after purchasing an additional 272 shares during the last quarter. 80.63% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on UTX shares. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research note on Wednesday, January 30th. Bank of America reaffirmed a “buy” rating and set a $185.00 target price on shares of United Technologies in a research note on Thursday, January 24th. Goldman Sachs Group reaffirmed a “buy” rating and set a $149.00 target price on shares of United Technologies in a research note on Wednesday, January 23rd. Seaport Global Securities assumed coverage on United Technologies in a report on Friday, May 10th. They set a “neutral” rating and a $136.86 price target on the stock. Finally, Barclays lifted their price target on United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. United Technologies has an average rating of “Buy” and an average price target of $147.76.
In related news, VP Robert J. Bailey sold 1,418 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $126.20, for a total value of $178,951.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth B. Amato sold 10,089 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $123.84, for a total transaction of $1,249,421.76. Following the completion of the sale, the executive vice president now owns 21,635 shares in the company, valued at $2,679,278.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,504 shares of company stock worth $4,864,047. 0.15% of the stock is owned by insiders.
NYSE UTX opened at $133.98 on Wednesday. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $144.40. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.79 and a current ratio of 1.13. The firm has a market cap of $113.79 billion, a PE ratio of 17.61, a P/E/G ratio of 1.95 and a beta of 1.23.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.20. The firm had revenue of $18.37 billion for the quarter, compared to analyst estimates of $18.01 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. United Technologies’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 EPS. Sell-side analysts expect that United Technologies Co. will post 7.97 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $0.735 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.94 annualized dividend and a yield of 2.19%. United Technologies’s dividend payout ratio (DPR) is currently 38.63%.
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United Technologies Profile
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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