World Asset Management Inc cut its holdings in United Technologies Co. (NYSE:UTX) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,119 shares of the conglomerate’s stock after selling 4,868 shares during the period. World Asset Management Inc’s holdings in United Technologies were worth $8,052,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of United Technologies by 1.6% in 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 in the last quarter. BlackRock Inc. grew its stake in shares of United Technologies by 0.3% in the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after buying an additional 133,036 shares in the last quarter. 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 valued at $2,514,316,000 after buying an additional 2,401,795 shares in the last quarter. Capital Research Global Investors grew its stake in shares of United Technologies by 3.6% in the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after buying an additional 304,989 shares in the last quarter. Finally, Boston Partners grew its stake in shares of United Technologies by 5.3% in the third quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock valued at $634,658,000 after buying an additional 274,184 shares in 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 raised 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 cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Atlantic Securities raised shares of United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Cowen reissued a “hold” rating and issued a $120.00 target price on shares of United Technologies in a research note on Friday, November 10th. Finally, Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. United Technologies presently has a consensus rating of “Buy” and an average price target of $137.07.
In other news, VP Akhil Johri sold 5,979 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 23,295 shares of the company’s stock, valued at $2,819,393.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert J. Bailey sold 864 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $126.01, for a total transaction of $108,872.64. Following the completion of the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $252,020. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,480 shares of company stock valued at $1,658,028. Company insiders own 0.16% of the company’s stock.
United Technologies Co. (UTX) opened at $129.26 on Thursday. 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 52-week low of $107.05 and a 52-week high of $139.24. The company has a market cap of $101,139.97, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 2.09 and a beta of 1.08.
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 Zacks’ 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 firm had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $15.34 billion. During the same period in the previous year, the business posted $1.56 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities analysts predict 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. Shareholders of record on Friday, February 16th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. United Technologies’s dividend payout ratio (DPR) is 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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