Parkside Financial Bank & Trust decreased its position in shares of United Technologies Co. (NYSE:UTX) by 22.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,095 shares of the conglomerate’s stock after selling 1,165 shares during the quarter. Parkside Financial Bank & Trust’s holdings in United Technologies were worth $522,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of United Technologies by 1.6% during the 2nd 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 period. BlackRock Inc. grew its stake in shares of United Technologies by 0.3% during the 2nd 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 period. FMR LLC grew its stake in shares of United Technologies by 13.2% during the 2nd 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 period. Capital Research Global Investors grew its stake in shares of United Technologies by 3.6% during the 2nd 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 period. Finally, Boston Partners lifted its position in shares of United Technologies by 5.3% during the 3rd quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock valued at $634,658,000 after buying an additional 274,184 shares in the last quarter. 82.38% of the stock is currently owned by institutional investors and hedge funds.
United Technologies stock opened at $128.33 on Monday. 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 firm has a market capitalization of $102,635.52, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 2.11 and a beta of 1.05. United Technologies Co. has a fifty-two week low of $109.10 and a fifty-two week high of $139.24.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 EPS. equities research analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were issued a $0.70 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.18%. United Technologies’s payout ratio is currently 49.12%.
A number of research analysts have recently issued reports on UTX shares. Royal Bank of Canada upgraded United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Barclays increased their target price on United Technologies from $157.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Sanford C. Bernstein reiterated a “positive” rating and set a $153.00 target price (up previously from $135.00) on shares of United Technologies in a research report on Tuesday, January 30th. Finally, Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $137.00.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.95, for a total value of $274,218.40. Following the transaction, the vice president now owns 4,900 shares in the company, valued at approximately $661,255. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.
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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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