Investment Centers of America Inc. grew its holdings in shares of United Technologies Co. (NYSE:UTX) by 51.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,023 shares of the conglomerate’s stock after purchasing an additional 3,073 shares during the period. Investment Centers of America Inc.’s holdings in United Technologies were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Knowledge Leaders Capital LLC purchased a new stake in United Technologies during the third quarter valued at about $105,000. Tortoise Investment Management LLC lifted its stake in United Technologies by 5.3% during the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after buying an additional 48 shares in the last quarter. Seven Bridges Advisors LLC purchased a new stake in United Technologies during the second quarter valued at about $120,000. Thompson Davis & CO. Inc. lifted its stake in United Technologies by 750.4% during the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after buying an additional 953 shares in the last quarter. Finally, Winfield Associates Inc. lifted its stake in United Technologies by 2.9% during 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 in the last quarter. Institutional investors own 79.87% of the company’s stock.
A number of research firms have recently issued reports on UTX. Goldman Sachs Group raised shares of United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Cowen reissued a “hold” rating and issued a $141.00 price target on shares of United Technologies in a research report on Thursday, January 25th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $146.00 price objective (up previously from $124.00) on shares of United Technologies in a research report on Thursday, January 25th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. United Technologies currently has an average rating of “Buy” and a consensus target price of $136.15.
In other United Technologies news, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total transaction of $97,635.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Bailey sold 833 shares of United Technologies stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $122.66, for a total value of $102,175.78. Following the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at $245,320. The disclosure for this sale can be found here. Insiders have sold 13,480 shares of company stock worth $1,658,028 in the last quarter. Corporate insiders own 0.16% of the company’s stock.
Shares of United Technologies Co. (NYSE:UTX) opened at $127.38 on Tuesday. The stock has a market cap of $101,720.00, a price-to-earnings ratio of 22.35, a PEG ratio of 2.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94. United Technologies Co. has a 52 week low of $107.05 and a 52 week high of $139.24.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same quarter last year, the company posted $1.56 earnings per share. United Technologies’s quarterly revenue was up 7.0% on a year-over-year basis. research analysts expect that United Technologies Co. will post 7.01 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 16th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.20%. United Technologies’s dividend payout ratio is currently 49.12%.
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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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