Blue Rock Advisors LLC bought a new position in shares of United Technologies Co. (NYSE:UTX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,293 shares of the conglomerate’s stock, valued at approximately $963,000. United Technologies makes up approximately 1.5% of Blue Rock Advisors LLC’s portfolio, making the stock its 29th largest position.
Several other hedge funds and other institutional investors have also modified their holdings of UTX. Connecticut Wealth Management LLC grew its stake in United Technologies by 10.1% during the 2nd quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock worth $1,473,000 after buying an additional 1,098 shares during the last quarter. Pacer Advisors Inc. grew its stake in United Technologies by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock worth $2,281,000 after buying an additional 1,447 shares during the last quarter. Stoneridge Investment Partners LLC grew its stake in United Technologies by 755.1% during the 2nd quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock worth $4,051,000 after buying an additional 29,298 shares during the last quarter. Federated Investors Inc. PA grew its stake in United Technologies by 22.2% during the 2nd quarter. Federated Investors Inc. PA now owns 65,214 shares of the conglomerate’s stock worth $7,963,000 after buying an additional 11,851 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in United Technologies by 136.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 340,295 shares of the conglomerate’s stock worth $41,553,000 after buying an additional 196,200 shares during the last quarter. 80.01% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on UTX. Argus upgraded United Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Sanford C. Bernstein restated a “positive” rating and set a $153.00 price target (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Stifel Nicolaus restated a “hold” rating and set a $146.00 price target (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, UBS Group began coverage on United Technologies in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 target price on the stock. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. United Technologies has an average rating of “Buy” and an average price target of $136.15.
In related news, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Akhil Johri sold 5,979 shares of United Technologies stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the completion of the sale, the vice president now owns 23,295 shares in the company, valued at $2,819,393.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,480 shares of company stock worth $1,658,028. Company insiders own 0.16% of the company’s stock.
United Technologies Co. (UTX) traded down $2.45 during trading on Friday, hitting $125.03. The company had a trading volume of 12,120,000 shares, compared to its average volume of 4,880,000. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35. United Technologies Co. has a 12-month low of $107.05 and a 12-month high of $139.24. The stock has a market capitalization of $99,850.00, a P/E ratio of 21.94, a PEG ratio of 2.12 and a beta of 1.08.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. research analysts expect that United Technologies Co. will post 7.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 16th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. United Technologies’s dividend payout ratio (DPR) is presently 49.12%.
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United Technologies Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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