Peddock Capital Advisors LLC Reduces Position in United Technologies Co. (NYSE:UTX)

Peddock Capital Advisors LLC lessened its holdings in shares of United Technologies Co. (NYSE:UTX) by 2.5% in the 3rd quarter, Holdings Channel reports. The fund owned 4,302 shares of the conglomerate’s stock after selling 112 shares during the quarter. Peddock Capital Advisors LLC’s holdings in United Technologies were worth $587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Architects LLC grew its stake in shares of United Technologies by 4.3% in the 2nd quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock valued at $236,000 after buying an additional 75 shares during the period. Patten Group Inc. grew its stake in shares of United Technologies by 0.3% in the 2nd quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock valued at $3,643,000 after buying an additional 75 shares during the period. Glenview State Bank Trust DEPT. grew its stake in shares of United Technologies by 3.0% in the 2nd quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock valued at $331,000 after buying an additional 75 shares during the period. Mcrae Capital Management Inc. grew its stake in shares of United Technologies by 1.4% in the 2nd quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock valued at $715,000 after buying an additional 75 shares during the period. Finally, Heritage Way Advisors LLC grew its stake in shares of United Technologies by 0.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 18,501 shares of the conglomerate’s stock valued at $2,409,000 after buying an additional 75 shares during the period. 80.72% of the stock is owned by institutional investors.

UTX has been the subject of several analyst reports. Bank of America reissued a “buy” rating and issued a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Credit Suisse Group initiated coverage on shares of United Technologies in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $164.00 price target for the company. Zacks Investment Research cut shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target for the company. in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their price target on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Barclays increased their price target on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $154.81.

In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $135.71, for a total transaction of $583,281.58. Following the sale, the executive vice president now directly owns 30,847 shares in the company, valued at approximately $4,186,246.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregory Hayes sold 19,542 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $133.35, for a total transaction of $2,605,925.70. Following the sale, the chief executive officer now owns 246,111 shares in the company, valued at $32,818,901.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,123 shares of company stock worth $13,787,015. Company insiders own 0.15% of the company’s stock.

Shares of UTX stock traded up $0.59 during trading hours on Wednesday, hitting $136.74. The company had a trading volume of 1,225,191 shares, compared to its average volume of 2,630,228. The company’s fifty day moving average is $133.85 and its 200 day moving average is $132.48. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The stock has a market capitalization of $117.49 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.21.

United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping the consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The firm had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. During the same period in the prior year, the business posted $1.97 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities analysts forecast that United Technologies Co. will post 8.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.735 dividend. The ex-dividend date is Thursday, November 14th. This represents a $2.94 annualized dividend and a dividend yield of 2.15%. United Technologies’s dividend payout ratio is currently 38.63%.

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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