Saratoga Research & Investment Management increased its holdings in United Technologies Co. (NYSE:UTX) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 669,383 shares of the conglomerate’s stock after acquiring an additional 18,968 shares during the period. United Technologies comprises 6.0% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 3rd biggest holding. Saratoga Research & Investment Management owned 0.08% of United Technologies worth $85,393,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Knowledge Leaders Capital LLC purchased a new stake in United Technologies in the 3rd quarter valued at about $105,000. Tortoise Investment Management LLC increased its stake in United Technologies by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after buying an additional 48 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in United Technologies in the 3rd quarter valued at about $118,000. Thompson Davis & CO. Inc. increased its stake in United Technologies by 750.4% in the 3rd 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 during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in United Technologies by 3.8% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock valued at $133,000 after buying an additional 40 shares during the last quarter. Institutional investors own 79.54% of the company’s stock.
UTX has been the subject of several analyst reports. Royal Bank of Canada upgraded shares of United Technologies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Finally, Cowen reiterated a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research note on Friday, November 10th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $137.07.
In related news, VP Akhil Johri sold 5,979 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the completion of the transaction, the vice president now directly owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 827 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was 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. Over the last ninety days, insiders sold 13,480 shares of company stock valued at $1,658,028. 0.16% of the stock is owned by insiders.
United Technologies Co. (UTX) opened at $126.46 on Wednesday. The company has a market cap of $101,140.00, a P/E ratio of 19.28, a P/E/G ratio of 2.13 and a beta of 1.08. United Technologies Co. has a fifty-two week low of $107.05 and a fifty-two week high of $139.24. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.04. The company had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $15.34 billion. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. United Technologies’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.56 EPS. analysts predict that United Technologies Co. will post 7.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 16th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 42.68%.
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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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