Gateway Investment Advisers LLC cut its position in United Technologies Co. (NYSE:UTX) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 524,149 shares of the conglomerate’s stock after selling 37,424 shares during the period. Gateway Investment Advisers LLC’s holdings in United Technologies were worth $66,866,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Knowledge Leaders Capital LLC purchased a new position in shares of United Technologies in the 3rd quarter valued at $105,000. Tortoise Investment Management LLC grew its position in shares of United Technologies by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after buying an additional 48 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of United Technologies in the 3rd quarter valued at $118,000. Thompson Davis & CO. Inc. grew its position in shares of United Technologies by 750.4% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after buying an additional 953 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its position in shares of United Technologies by 3.8% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock valued at $133,000 after buying an additional 40 shares during the last quarter. 79.87% of the stock is currently owned by institutional investors.
In other news, VP Robert J. Bailey sold 827 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth B. Amato sold 4,341 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $125.92, for a total transaction of $546,618.72. Following the completion of the sale, the executive vice president now owns 29,122 shares of the company’s stock, valued at approximately $3,667,042.24. The disclosure for this sale can be found here. Insiders sold a total of 13,480 shares of company stock valued at $1,658,028 in the last 90 days. Company insiders own 0.16% of the company’s stock.
A number of research analysts recently commented on UTX shares. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $151.00 target price on the stock in a research report on Saturday, January 20th. Goldman Sachs Group raised shares of United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. UBS Group started coverage on shares of United Technologies in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 target price on the stock. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Argus raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. United Technologies presently has a consensus rating of “Buy” and a consensus target price of $137.07.
United Technologies Co. (NYSE UTX) opened at $129.26 on Friday. United Technologies Co. has a 52-week low of $107.05 and a 52-week high of $139.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35. The stock has a market cap of $103,380.00, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same period last year, the firm posted $1.56 EPS. United Technologies’s revenue for the quarter was up 7.0% on a year-over-year basis. equities analysts anticipate that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 16th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 42.68%.
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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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