Edge Advisors LLC raised its holdings in United Technologies Co. (NYSE:UTX) by 49.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,057 shares of the conglomerate’s stock after purchasing an additional 2,000 shares during the period. Edge Advisors LLC’s holdings in United Technologies were worth $702,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after purchasing an additional 848,623 shares during the last quarter. BlackRock Inc. increased its position in United Technologies by 0.3% during the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock worth $5,384,561,000 after purchasing an additional 133,036 shares during the last quarter. FMR LLC increased its position in United Technologies by 13.2% during the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares during the last quarter. Capital Research Global Investors increased its position in United Technologies by 3.6% during the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock worth $1,072,082,000 after purchasing an additional 304,989 shares during the last quarter. Finally, Boston Partners increased its position in United Technologies by 5.3% during the third quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock worth $634,658,000 after purchasing an additional 274,184 shares during the last quarter. 80.01% of the stock is currently owned by institutional investors.
Shares of United Technologies Co. (NYSE:UTX) traded down $2.45 during mid-day trading on Friday, hitting $125.03. 12,060,398 shares of the stock traded hands, compared to its average volume of 4,880,000. United Technologies Co. has a fifty-two week low of $107.05 and a fifty-two week high of $139.24. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. 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 data on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. 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 prior year, the firm posted $1.56 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. research analysts forecast that United Technologies Co. will post 7.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 16th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.24%. United Technologies’s dividend payout ratio (DPR) is 49.12%.
In other United Technologies news, VP Robert J. Bailey sold 864 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $126.01, for a total transaction of $108,872.64. Following the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at $252,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Akhil Johri sold 5,979 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $121.03, for a total transaction of $723,638.37. Following the completion of the sale, the vice president now directly owns 23,295 shares in the company, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. Insiders have sold a total of 13,480 shares of company stock worth $1,658,028 over the last quarter. 0.16% of the stock is currently owned by insiders.
Several equities analysts recently commented on UTX shares. Stifel Nicolaus upped their price target on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Atlantic Securities raised shares of United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Goldman Sachs Group raised shares of United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research downgraded shares of United Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $136.15.
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About United Technologies
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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