Mainstay Capital Management LLC ADV lifted its stake in United Technologies Co. (NYSE:UTX) by 4.9% in the third quarter, Holdings Channel.com reports. The fund owned 14,459 shares of the conglomerate’s stock after purchasing an additional 671 shares during the period. United Technologies makes up approximately 1.1% of Mainstay Capital Management LLC ADV’s portfolio, making the stock its 18th biggest position. Mainstay Capital Management LLC ADV’s holdings in United Technologies were worth $1,974,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of UTX. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of United Technologies in the first quarter worth $491,000. Marshall Wace LLP boosted its stake in United Technologies by 272.5% during the first quarter. Marshall Wace LLP now owns 51,070 shares of the conglomerate’s stock valued at $6,582,000 after buying an additional 37,360 shares during the period. Advisory Services Network LLC boosted its stake in United Technologies by 10.7% during the first quarter. Advisory Services Network LLC now owns 15,786 shares of the conglomerate’s stock valued at $2,035,000 after buying an additional 1,527 shares during the period. Nordea Investment Management AB boosted its stake in United Technologies by 4.0% during the first quarter. Nordea Investment Management AB now owns 105,087 shares of the conglomerate’s stock valued at $13,546,000 after buying an additional 4,077 shares during the period. Finally, B. Riley Wealth Management Inc. boosted its stake in United Technologies by 9.8% during the first quarter. B. Riley Wealth Management Inc. now owns 4,395 shares of the conglomerate’s stock valued at $567,000 after buying an additional 393 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the company. Wolfe Research set a $152.00 price target on United Technologies and gave the company a “buy” rating in a report on Wednesday, September 18th. Sanford C. Bernstein boosted their price target on United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a report on Tuesday, September 17th. Bank of America restated a “buy” rating and set a $195.00 price target (up previously from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Zacks Investment Research downgraded United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target on the stock. in a report on Friday, July 19th. Finally, Cowen restated a “buy” rating and set a $150.00 price target on shares of United Technologies in a report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $154.81.
In other news, VP Charles D. Gill sold 33,763 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $135.04, for a total value of $4,559,355.52. Following the sale, the vice president now directly owns 112,458 shares of the company’s stock, valued at approximately $15,186,328.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory Hayes sold 19,542 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $133.35, for a total value of $2,605,925.70. Following the completion of the sale, the chief executive officer now directly owns 246,111 shares in the company, valued at $32,818,901.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,123 shares of company stock worth $13,787,015. Insiders own 0.15% of the company’s stock.
United Technologies stock traded up $1.42 during trading hours on Thursday, hitting $138.13. 1,187,253 shares of the stock traded hands, compared to its average volume of 2,609,190. The firm’s 50-day moving average price is $134.08 and its two-hundred day moving average price is $132.52. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. The company has a market cap of $118.55 billion, a PE ratio of 18.15, a PEG ratio of 2.37 and a beta of 1.21. United Technologies Co. has a one year low of $100.48 and a one year high of $144.40.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.16. The business had revenue of $19.63 billion for the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.97 EPS. On average, sell-side analysts expect that United Technologies Co. will post 8.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.94 annualized dividend and a yield of 2.13%. United Technologies’s payout ratio is 38.63%.
About United Technologies
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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