Pacer Advisors Inc. lifted its position in shares of United Technologies Co. (NYSE:UTX) by 10.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,624 shares of the conglomerate’s stock after buying an additional 1,942 shares during the quarter. Pacer Advisors Inc.’s holdings in United Technologies were worth $2,394,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of UTX. Alexandria Capital LLC raised its stake in 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 last quarter. Rowland & Co. Investment Counsel ADV raised its stake in shares of United Technologies by 0.3% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock worth $143,000 after purchasing an additional 3 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in shares of United Technologies by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 8 shares during the last quarter. Vigilant Capital Management LLC raised its stake in shares of United Technologies by 0.7% in the second quarter. Vigilant Capital Management LLC now owns 1,891 shares of the conglomerate’s stock worth $231,000 after purchasing an additional 14 shares during the last quarter. Finally, Mosaic Family Wealth LLC raised its stake in shares of United Technologies by 0.3% in the second quarter. Mosaic Family Wealth LLC now owns 4,357 shares of the conglomerate’s stock worth $532,000 after purchasing an additional 14 shares during the last quarter. 79.87% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Akhil Johri sold 5,979 shares of United Technologies stock in a transaction on Friday, December 1st. The stock was sold at an average price of $121.03, for a total value of $723,638.37. Following the completion of the sale, the vice president now directly owns 23,295 shares of the company’s stock, valued at $2,819,393.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Bailey sold 636 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $124.35, for a total value of $79,086.60. Following the transaction, the vice president now directly owns 1,500 shares of the company’s stock, valued at $186,525. The disclosure for this sale can be found here. Insiders sold 13,480 shares of company stock valued at $1,658,028 over the last ninety days. Insiders own 0.16% of the company’s stock.
UTX has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Goldman Sachs Group raised United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Zacks Investment Research lowered United Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Finally, Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $136.15.
United Technologies Co. (NYSE:UTX) traded up $2.35 during trading hours on Monday, reaching $127.38. The company’s stock had a trading volume of 9,548,320 shares, compared to its average volume of 4,880,000. United Technologies Co. has a 12 month low of $107.05 and a 12 month high of $139.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94. The stock has a market capitalization of $101,720.00, a P/E ratio of 22.35, a P/E/G ratio of 2.12 and a beta of 1.08.
United Technologies (NYSE:UTX) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, beating 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 company had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. equities analysts expect that United Technologies Co. will post 7.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 16th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.20%. United Technologies’s payout ratio is presently 49.12%.
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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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