Smith Moore & CO. raised its position in shares of United Technologies Co. (NYSE:UTX) by 24.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,845 shares of the conglomerate’s stock after buying an additional 766 shares during the period. Smith Moore & CO.’s holdings in United Technologies were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of UTX. Alexandria Capital LLC grew its stake in shares of United Technologies by 0.3% during the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after purchasing an additional 3 shares during the last quarter. Rowland & Co. Investment Counsel ADV grew its stake in shares of United Technologies by 0.3% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after purchasing an additional 3 shares during the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in shares of United Technologies by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock valued at $218,000 after purchasing an additional 8 shares during the last quarter. Kissinger Financial Services LLC grew its stake in shares of United Technologies by 0.5% during the second quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock valued at $256,000 after purchasing an additional 11 shares during the last quarter. Finally, Vigilant Capital Management LLC grew its stake in shares of United Technologies by 0.7% during the second quarter. Vigilant Capital Management LLC now owns 1,891 shares of the conglomerate’s stock valued at $231,000 after purchasing an additional 14 shares during the last quarter. 80.07% of the stock is owned by institutional investors.
United Technologies Co. (UTX) opened at $131.57 on Friday. United Technologies Co. has a 52 week low of $106.85 and a 52 week high of $132.36. The stock has a market cap of $105,070.00, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.27 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same period last year, the firm earned $1.76 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. equities research analysts predict that United Technologies Co. will post 6.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.13%. United Technologies’s payout ratio is presently 43.34%.
Several analysts have recently commented on the stock. Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday. Royal Bank of Canada raised shares of United Technologies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. They noted that the move was a valuation call. Atlantic Securities raised shares of United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Cowen reissued a “hold” rating and set a $120.00 price target on shares of United Technologies in a research note on Friday, November 10th. Finally, Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. United Technologies presently has a consensus rating of “Hold” and a consensus price target of $125.63.
In other United Technologies news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total value of $361,246.28. Following the sale, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 864 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $126.01, for a total transaction of $108,872.64. Following the completion of the sale, the vice president now owns 2,000 shares in the company, valued at $252,020. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,466 shares of company stock worth $2,019,274. Insiders own 0.16% of the company’s stock.
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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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