Teacher Retirement System of Texas lowered its position in United Technologies Co. (NYSE:UTX) by 28.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 229,713 shares of the conglomerate’s stock after selling 90,523 shares during the quarter. Teacher Retirement System of Texas’ holdings in United Technologies were worth $29,304,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Knowledge Leaders Capital LLC purchased a new position in United Technologies in the 3rd quarter worth about $105,000. Wealthcare Advisory Partners LLC purchased a new position in United Technologies in the 3rd quarter worth about $118,000. Thompson Davis & CO. Inc. increased its stake in United Technologies by 750.4% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after buying an additional 953 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in United Technologies by 3.8% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock worth $133,000 after buying an additional 40 shares during the period. Finally, Rowland & Co. Investment Counsel ADV increased its stake in United Technologies by 0.3% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock worth $143,000 after buying an additional 3 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Robert J. Bailey sold 2,032 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.95, for a total value of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares in the company, valued at approximately $661,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Bailey sold 419 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total transaction of $56,032.87. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.
Several research analysts recently commented on the stock. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Cowen reaffirmed a “hold” rating and issued a $141.00 price target on shares of United Technologies in a research note on Thursday, January 25th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $146.00 price target (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Sanford C. Bernstein reiterated a “positive” rating and set a $153.00 target price (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Finally, Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $137.00.
Shares of United Technologies Co. (UTX) opened at $124.07 on Friday. United Technologies Co. has a 1-year low of $109.10 and a 1-year high of $139.24. The firm has a market cap of $101,699.81, a PE ratio of 21.77, a PEG ratio of 1.92 and a beta of 1.05. 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 (NYSE:UTX) last released its quarterly earnings results 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. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The business had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. During the same period last year, the business earned $1.56 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. sell-side analysts predict 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. Stockholders of record on Friday, February 16th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Thursday, February 15th. United Technologies’s dividend payout ratio is currently 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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