Valicenti Advisory Services Inc. decreased its stake in United Technologies Co. (NYSE:UTX) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,250 shares of the conglomerate’s stock after selling 7,147 shares during the quarter. United Technologies makes up 1.5% of Valicenti Advisory Services Inc.’s holdings, making the stock its 29th biggest position. Valicenti Advisory Services Inc.’s holdings in United Technologies were worth $2,966,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in United Technologies by 8.4% during the second quarter. Pacer Advisors Inc. now owns 18,682 shares of the conglomerate’s stock worth $2,281,000 after acquiring an additional 1,447 shares during the last quarter. Federated Investors Inc. PA boosted its position in United Technologies by 22.2% during the second quarter. Federated Investors Inc. PA now owns 65,214 shares of the conglomerate’s stock worth $7,963,000 after acquiring an additional 11,851 shares during the last quarter. Northeast Investment Management boosted its position in United Technologies by 30.1% during the second quarter. Northeast Investment Management now owns 105,641 shares of the conglomerate’s stock worth $12,900,000 after acquiring an additional 24,426 shares during the last quarter. Victory Capital Management Inc. boosted its position in United Technologies by 19.2% during the third quarter. Victory Capital Management Inc. now owns 42,601 shares of the conglomerate’s stock worth $4,945,000 after acquiring an additional 6,853 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new position in United Technologies during the second quarter worth about $2,201,000. Institutional investors and hedge funds own 79.54% of the company’s stock.
In other news, VP Robert J. Bailey sold 864 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at approximately $252,020. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert J. Bailey sold 827 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. Insiders have sold a total of 13,480 shares of company stock valued at $1,658,028 in the last quarter. 0.16% of the stock is currently owned by company insiders.
United Technologies Co. (UTX) opened at $129.26 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 twelve month low of $107.05 and a twelve month high of $139.24. The company has a market cap of $103,379.34, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 2.13 and a beta of 1.08.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 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 company had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter in the previous year, the business posted $1.56 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. equities analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.
The company also recently declared 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 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 49.12%.
UTX has been the topic of a number of recent research reports. Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday, January 5th. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Cowen restated a “hold” rating and set a $141.00 price target on shares of United Technologies in a research report on Sunday, February 11th. Sanford C. Bernstein reiterated a “positive” rating and issued a $153.00 target price (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Finally, Barclays initiated coverage on shares of United Technologies in a report on Thursday, February 15th. They issued an “overweight” rating and a $157.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $137.07.
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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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