Mason Street Advisors LLC trimmed its holdings in United Technologies Co. (NYSE:UTX) by 0.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,561 shares of the conglomerate’s stock after selling 121 shares during the quarter. Mason Street Advisors LLC’s holdings in United Technologies were worth $15,776,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in UTX. Nuveen Asset Management LLC raised its holdings in shares of United Technologies by 1,510.6% in the second quarter. Nuveen Asset Management LLC now owns 3,329,053 shares of the conglomerate’s stock valued at $433,442,000 after buying an additional 3,122,355 shares during the last quarter. Balyasny Asset Management LLC raised its holdings in shares of United Technologies by 159.5% in the second quarter. Balyasny Asset Management LLC now owns 1,883,732 shares of the conglomerate’s stock valued at $245,262,000 after buying an additional 1,157,940 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of United Technologies by 13,200.8% in the second quarter. Thoroughbred Financial Services LLC now owns 1,096,914 shares of the conglomerate’s stock valued at $109,691,000 after buying an additional 1,088,667 shares during the last quarter. Holocene Advisors LP increased its position in United Technologies by 455.3% in the second quarter. Holocene Advisors LP now owns 964,746 shares of the conglomerate’s stock worth $125,610,000 after purchasing an additional 790,998 shares during the period. Finally, Jensen Investment Management Inc. increased its position in United Technologies by 24.7% in the second quarter. Jensen Investment Management Inc. now owns 3,968,549 shares of the conglomerate’s stock worth $516,705,000 after purchasing an additional 785,493 shares during the period. 80.62% of the stock is owned by institutional investors and hedge funds.
Shares of United Technologies stock traded down $0.66 during trading on Monday, hitting $148.22. 1,461,059 shares of the company were exchanged, compared to its average volume of 3,289,642. The firm has a market capitalization of $127.63 billion, a P/E ratio of 19.48, a price-to-earnings-growth 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 firm’s fifty day moving average price is $138.67 and its 200 day moving average price is $133.63. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.18. The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 EPS. As a group, equities research analysts anticipate that United Technologies Co. will post 8.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 1.98%. United Technologies’s payout ratio is currently 38.63%.
In related news, CFO Akhil Johri sold 4,680 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $135.29, for a total value of $633,157.20. Following the completion of the transaction, the chief financial officer now directly owns 67,345 shares in the company, valued at approximately $9,111,105.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Bailey sold 1,299 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total value of $193,771.83. Following the completion of the transaction, the vice president now owns 2,600 shares of the company’s stock, valued at $387,842. 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. Corporate insiders own 0.15% of the company’s stock.
UTX has been the subject of a number of research reports. William Blair reiterated 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 research report on Wednesday, September 4th. Zacks Investment Research lowered United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a research report on Friday, July 19th. Credit Suisse Group set a $162.00 price objective on United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Bank of America reiterated a “buy” rating and issued a $195.00 price objective (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $154.69.
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.
Further Reading: Diluted Earnings Per Share
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