State of Alaska Department of Revenue increased its position in United Technologies Co. (NYSE:UTX) by 662.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,138 shares of the conglomerate’s stock after purchasing an additional 59,204 shares during the period. State of Alaska Department of Revenue’s holdings in United Technologies were worth $8,690,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. FMR LLC grew its stake in shares of United Technologies by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after acquiring an additional 2,401,795 shares during the last quarter. Stifel Financial Corp boosted its position in shares of United Technologies by 14,827.8% during the third quarter. Stifel Financial Corp now owns 1,079,875 shares of the conglomerate’s stock valued at $125,442,000 after buying an additional 1,072,641 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after buying an additional 848,623 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of United Technologies by 50.9% during the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock valued at $274,067,000 after buying an additional 756,600 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of United Technologies by 325.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 880,900 shares of the conglomerate’s stock valued at $107,567,000 after buying an additional 673,800 shares during the last quarter. 79.54% of the stock is currently owned by institutional investors.
Several research firms recently commented on UTX. Barclays began coverage on United Technologies in a research report on Thursday, February 15th. They set an “overweight” rating and a $157.00 price objective on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $139.00 price objective on shares of United Technologies in a research report on Friday, February 16th. Cowen reaffirmed a “hold” rating and set a $141.00 price objective on shares of United Technologies in a research report on Sunday, February 11th. Sanford C. Bernstein reaffirmed a “positive” rating and set a $153.00 price objective (up from $135.00) on shares of United Technologies in a research report on Tuesday, January 30th. Finally, Argus raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. United Technologies currently has a consensus rating of “Buy” and a consensus target price of $137.07.
In related news, VP Robert J. Bailey sold 827 shares of United Technologies 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Akhil Johri sold 5,979 shares of United Technologies 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 sale, the vice president now directly owns 23,295 shares in the company, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. Insiders sold 13,480 shares of company stock worth $1,658,028 in the last ninety days. Corporate insiders own 0.16% of the company’s stock.
United Technologies Co. (NYSE UTX) opened at $126.46 on Wednesday. United Technologies Co. has a 1-year low of $107.05 and a 1-year 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 firm has a market capitalization of $103,379.34, a PE 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 data 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 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 the consensus estimate of $15.34 billion. During the same quarter last year, the company earned $1.56 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities research analysts forecast that United Technologies Co. will post 7.04 EPS for the current year.
The business 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. This represents a $2.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) 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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