Hayek Kallen Investment Management cut its position in United Technologies Co. (NYSE:UTX) by 2.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,135 shares of the conglomerate’s stock after selling 527 shares during the quarter. United Technologies makes up approximately 1.9% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 23rd largest holding. Hayek Kallen Investment Management’s holdings in United Technologies were worth $3,022,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of UTX. Sound View Wealth Advisors Group LLC bought a new stake in United Technologies in the 2nd quarter valued at $2,049,000. Great Valley Advisor Group Inc. lifted its holdings in shares of United Technologies by 276.0% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 11,743 shares of the conglomerate’s stock worth $1,526,000 after acquiring an additional 8,620 shares during the period. Farr Miller & Washington LLC DC lifted its holdings in shares of United Technologies by 0.5% during the 2nd quarter. Farr Miller & Washington LLC DC now owns 383,785 shares of the conglomerate’s stock worth $49,969,000 after acquiring an additional 2,017 shares during the period. BTR Capital Management Inc. lifted its holdings in shares of United Technologies by 1.6% during the 2nd quarter. BTR Capital Management Inc. now owns 87,006 shares of the conglomerate’s stock worth $11,328,000 after acquiring an additional 1,398 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of United Technologies by 50.3% during the 2nd quarter. Captrust Financial Advisors now owns 58,174 shares of the conglomerate’s stock worth $7,574,000 after acquiring an additional 19,474 shares during the period. Institutional investors and hedge funds own 80.62% of the company’s stock.
UTX has been the subject of a number of analyst reports. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Sanford C. Bernstein raised their price objective on shares of United Technologies from $143.00 to $154.00 and gave the stock a “market perform” rating in a report on Tuesday, September 17th. Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a report on Friday, July 19th. Wolfe Research set a $152.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Barclays lifted their price target on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $154.69.
UTX traded up $0.15 during midday trading on Friday, hitting $148.88. The company had a trading volume of 1,668,146 shares, compared to its average volume of 3,289,642. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 1.06. The company has a market capitalization of $127.63 billion, a PE ratio of 19.56, a P/E/G ratio of 2.07 and a beta of 1.22. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $149.35. The firm’s 50-day simple moving average is $138.67 and its 200-day simple moving average is $133.63.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.18. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The business had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.31 billion. During the same quarter in the prior year, the business posted $1.93 earnings per share. United Technologies’s revenue was up 18.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Technologies Co. will post 8.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, November 14th. This represents a $2.94 annualized dividend and a yield of 1.97%. United Technologies’s dividend payout ratio is 38.63%.
In related news, VP Charles D. Gill sold 33,763 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $135.04, for a total transaction of $4,559,355.52. Following the completion of the sale, the vice president now owns 112,458 shares of the company’s stock, valued at $15,186,328.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Hayes sold 19,542 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $133.35, for a total transaction of $2,605,925.70. Following the sale, the chief executive officer now directly owns 246,111 shares of the company’s stock, valued at approximately $32,818,901.85. The disclosure for this sale can be found here. Insiders have sold 185,306 shares of company stock valued at $25,914,056 in the last ninety days. 0.15% of the stock is currently owned by company insiders.
United Technologies Company Profile
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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