Public Employees Retirement System of Ohio lowered its holdings in shares of United Technologies Corporation (NYSE:UTX) by 3.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 515,462 shares of the conglomerate’s stock after selling 18,058 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of United Technologies worth $62,943,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Tortoise Investment Management LLC increased its holdings in United Technologies by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares in the last quarter. Seven Bridges Advisors LLC acquired a new stake in shares of United Technologies in the second quarter valued at about $120,000. Winfield Associates Inc. increased its stake in shares of United Technologies by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after buying an additional 29 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of United Technologies in the second quarter valued at about $131,000. Finally, Alexandria Capital LLC increased its stake in shares of United Technologies by 0.3% in the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after buying an additional 3 shares during the period. 80.20% of the stock is owned by institutional investors.
UTX has been the subject of several recent research reports. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Cowen reissued a “buy” rating and issued a $127.00 price target on shares of United Technologies in a research note on Tuesday, September 5th. Credit Suisse Group reissued a “neutral” rating on shares of United Technologies in a research note on Friday, September 1st. Jefferies Group reissued a “buy” rating and issued a $139.00 price target on shares of United Technologies in a research note on Tuesday, August 29th. Finally, Royal Bank of Canada set a $126.00 price target on United Technologies and gave the company a “hold” rating in a research note on Sunday, November 12th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $125.63.
In other news, VP Robert J. Bailey sold 827 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the completion of the sale, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,625 shares of company stock valued at $1,284,696. Company insiders own 0.16% of the company’s stock.
Shares of United Technologies Corporation (NYSE:UTX) traded up $0.18 during trading hours on Wednesday, reaching $123.48. The company’s stock had a trading volume of 3,528,200 shares, compared to its average volume of 3,040,845. The company has a market capitalization of $98,463.68, a price-to-earnings ratio of 18.63, a P/E/G ratio of 2.22 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 1-year low of $106.85 and a 1-year high of $124.79.
United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 earnings per share. equities research analysts expect that United Technologies Corporation will post 6.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Friday, November 17th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Thursday, November 16th. United Technologies’s dividend payout ratio (DPR) is presently 43.41%.
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About United Technologies
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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