Whitnell & Co. lifted its holdings in United Technologies Co. (NYSE:UTX) by 18.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 20,079 shares of the conglomerate’s stock after buying an additional 3,100 shares during the quarter. Whitnell & Co.’s holdings in United Technologies were worth $2,741,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Neville Rodie & Shaw Inc. raised its position in shares of United Technologies by 0.9% in the second quarter. Neville Rodie & Shaw Inc. now owns 77,083 shares of the conglomerate’s stock valued at $10,036,000 after purchasing an additional 703 shares during the period. Cacti Asset Management LLC raised its stake in shares of United Technologies by 7.3% during the 2nd quarter. Cacti Asset Management LLC now owns 164,324 shares of the conglomerate’s stock valued at $21,193,000 after purchasing an additional 11,126 shares during the period. Private Trust Co. NA raised its stake in shares of United Technologies by 5.9% during the 2nd quarter. Private Trust Co. NA now owns 12,401 shares of the conglomerate’s stock valued at $1,614,000 after purchasing an additional 689 shares during the period. Rockland Trust Co. raised its stake in shares of United Technologies by 0.8% during the 2nd quarter. Rockland Trust Co. now owns 101,385 shares of the conglomerate’s stock valued at $13,200,000 after purchasing an additional 801 shares during the period. Finally, DNB Asset Management AS raised its stake in shares of United Technologies by 5.7% during the 2nd quarter. DNB Asset Management AS now owns 166,812 shares of the conglomerate’s stock valued at $21,719,000 after purchasing an additional 8,934 shares during the period. Institutional investors and hedge funds own 80.62% of the company’s stock.
UTX has been the subject of several recent analyst reports. William Blair restated a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Cowen reiterated a “buy” rating and issued a $150.00 price objective on shares of United Technologies in a report on Wednesday, September 4th. Barclays upped their price objective on United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Zacks Investment Research cut 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. Finally, JPMorgan Chase & Co. upped their price objective on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. United Technologies presently has an average rating of “Buy” and an average price target of $154.69.
UTX stock traded up $0.15 during trading on Friday, hitting $148.88. 1,668,146 shares of the company traded hands, compared to its average volume of 3,289,642. The firm 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 1 year low of $100.48 and a 1 year high of $149.35. The company has a 50-day moving average of $138.67 and a 200-day moving average of $133.63. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 1.06.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.18. The company had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. United Technologies’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 EPS. Sell-side analysts expect that United Technologies Co. will post 8.13 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, November 14th. United Technologies’s dividend payout ratio is presently 38.63%.
In other United Technologies news, CEO Gregory Hayes sold 19,542 shares of the company’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 transaction of $2,605,925.70. Following the completion of the transaction, the chief executive officer now owns 246,111 shares of the company’s stock, valued at approximately $32,818,901.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles D. Gill sold 26,542 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $131.42, for a total value of $3,488,149.64. Following the transaction, the vice president now directly owns 103,458 shares of the company’s stock, valued at approximately $13,596,450.36. The disclosure for this sale can be found here. Insiders have sold a total of 185,306 shares of company stock valued at $25,914,056 over the last 90 days. 0.15% of the stock is currently owned by company insiders.
United Technologies 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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