Watch Point Trust Co lowered its stake in shares of United Technologies Co. (NYSE:UTX) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 30,893 shares of the conglomerate’s stock after selling 752 shares during the period. United Technologies makes up approximately 2.2% of Watch Point Trust Co’s portfolio, making the stock its 13th biggest holding. Watch Point Trust Co’s holdings in United Technologies were worth $4,218,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in UTX. Sound View Wealth Advisors Group LLC bought a new stake in United Technologies during the 2nd quarter valued at $2,049,000. Great Valley Advisor Group Inc. raised its holdings in United Technologies by 276.0% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 11,743 shares of the conglomerate’s stock valued at $1,526,000 after acquiring an additional 8,620 shares during the period. Farr Miller & Washington LLC DC grew its position in shares of United Technologies by 0.5% during the 2nd quarter. Farr Miller & Washington LLC DC now owns 383,785 shares of the conglomerate’s stock valued at $49,969,000 after purchasing an additional 2,017 shares in the last quarter. BTR Capital Management Inc. grew its position in shares of United Technologies by 1.6% during the 2nd quarter. BTR Capital Management Inc. now owns 87,006 shares of the conglomerate’s stock valued at $11,328,000 after purchasing an additional 1,398 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in shares of United Technologies by 50.3% during the 2nd quarter. Captrust Financial Advisors now owns 58,174 shares of the conglomerate’s stock valued at $7,574,000 after purchasing an additional 19,474 shares in the last quarter. Institutional investors and hedge funds own 80.62% of the company’s stock.
In related news, CEO Gregory Hayes sold 19,542 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $133.35, for a total value of $2,605,925.70. Following the completion of the transaction, the chief executive officer now directly owns 246,111 shares in the company, valued at $32,818,901.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Charles D. Gill sold 26,542 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $131.42, for a total transaction of $3,488,149.64. Following the completion of the transaction, the vice president now owns 103,458 shares of the company’s stock, valued at $13,596,450.36. The disclosure for this sale can be found here. Insiders sold 185,306 shares of company stock valued at $25,914,056 over the last quarter. 0.15% of the stock is owned by company insiders.
A number of research analysts have recently commented on the stock. William Blair restated a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Credit Suisse Group set a $162.00 price target on shares of United Technologies and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays boosted their price target on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein boosted their price target on shares of United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research report on Tuesday, September 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. United Technologies presently has a consensus rating of “Buy” and an average target price of $154.69.
NYSE:UTX traded up $0.15 during midday trading on Friday, hitting $148.88. The company had a trading volume of 1,668,146 shares, compared to its average volume of 3,289,642. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $149.35. The stock’s fifty day moving average price is $138.67 and its 200-day moving average price is $133.63. The company has a market capitalization of $127.63 billion, a PE ratio of 19.56, a P/E/G ratio of 2.07 and a beta of 1.22. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93.
United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.18. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.31 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, research analysts forecast that United Technologies Co. will post 8.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.735 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.94 annualized dividend and a yield of 1.97%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.
United Technologies Company 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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