Public Employees Retirement Association of Colorado grew its stake in shares of United Technologies Co. (NYSE:UTX) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 143,044 shares of the conglomerate’s stock after purchasing an additional 11,062 shares during the period. Public Employees Retirement Association of Colorado’s holdings in United Technologies were worth $18,248,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of 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 period. BlackRock Inc. lifted its holdings in United Technologies by 0.3% in the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock worth $5,384,561,000 after buying an additional 133,036 shares during the period. FMR LLC lifted its holdings in United Technologies by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after buying an additional 2,401,795 shares during the period. Capital Research Global Investors lifted its holdings in United Technologies by 3.6% in the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock worth $1,072,082,000 after buying an additional 304,989 shares during the period. Finally, Boston Partners lifted its holdings in United Technologies by 5.3% in the third quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock worth $634,658,000 after buying an additional 274,184 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.
United Technologies Co. (NYSE UTX) traded up $0.65 during trading hours on Friday, reaching $124.72. 528,110 shares of the company were exchanged, compared to its average volume of 4,993,248. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94. United Technologies Co. has a 12 month low of $109.10 and a 12 month high of $139.24. The stock has a market capitalization of $101,571.84, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. United Technologies’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 EPS. equities analysts anticipate that United Technologies Co. will post 7.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 16th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 49.12%.
Several brokerages have commented on UTX. UBS set a $155.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a report on Thursday, March 15th. Barclays raised their price target on shares of United Technologies from $157.00 to $159.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $139.00 target price on shares of United Technologies in a research report on Friday, February 16th. Cowen reaffirmed a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research report on Sunday, February 11th. Finally, Argus upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Nine 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 a consensus rating of “Buy” and a consensus price target of $137.00.
In related news, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares of the company’s stock, valued at $661,255. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.
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United Technologies Company 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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