Associated Banc Corp reduced its stake in shares of United Technologies Co. (NYSE:UTX) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,741 shares of the conglomerate’s stock after selling 1,044 shares during the quarter. Associated Banc Corp’s holdings in United Technologies were worth $7,399,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Connecticut Wealth Management LLC increased its stake in shares of United Technologies by 10.1% in the second quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock valued at $1,473,000 after buying an additional 1,098 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of United Technologies by 8.4% in the second quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock valued at $2,281,000 after buying an additional 1,447 shares in the last quarter. Stoneridge Investment Partners LLC increased its stake in shares of United Technologies by 755.1% in the second quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock valued at $4,051,000 after buying an additional 29,298 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of United Technologies by 22.2% in the second quarter. Federated Investors Inc. PA now owns 65,214 shares of the conglomerate’s stock valued at $7,963,000 after buying an additional 11,851 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of United Technologies by 136.2% in the second quarter. Canada Pension Plan Investment Board now owns 340,295 shares of the conglomerate’s stock valued at $41,553,000 after buying an additional 196,200 shares in the last quarter. Hedge funds and other institutional investors own 79.87% of the company’s stock.
In other news, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total transaction of $97,635.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 864 shares of United Technologies stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the transaction, the vice president now owns 2,000 shares in the company, valued at approximately $252,020. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,480 shares of company stock worth $1,658,028. Company insiders own 0.16% of the company’s stock.
United Technologies Co. (NYSE UTX) opened at $127.38 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80. United Technologies Co. has a 1-year low of $107.05 and a 1-year high of $139.24. The stock has a market capitalization of $101,720.00, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.12 and a beta of 1.08.
United Technologies (NYSE:UTX) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The firm had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter last year, the business earned $1.56 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. sell-side analysts expect that United Technologies Co. will post 7.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is currently 49.12%.
A number of brokerages have recently weighed in on UTX. Argus upgraded United Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Cowen reiterated a “hold” rating and issued a $141.00 price target on shares of United Technologies in a report on Sunday. Sanford C. Bernstein reiterated a “positive” rating and issued a $153.00 price target (up previously from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $146.00 price target (up previously from $124.00) on shares of United Technologies in a report on Thursday, January 25th. Finally, ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $136.15.
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United Technologies Company 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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