United Technologies Co. (UTX) Shares Sold by First Manhattan Co.

First Manhattan Co. cut its position in United Technologies Co. (NYSE:UTX) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 556,818 shares of the conglomerate’s stock after selling 25,664 shares during the quarter. First Manhattan Co.’s holdings in United Technologies were worth $71,034,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Asset Advisors Corp lifted its position in United Technologies by 2.1% during the 4th quarter. Asset Advisors Corp now owns 67,688 shares of the conglomerate’s stock worth $8,635,000 after acquiring an additional 1,395 shares during the period. Steward Partners Investment Advisory LLC lifted its position in United Technologies by 32.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 80,546 shares of the conglomerate’s stock worth $10,275,000 after acquiring an additional 19,765 shares during the period. V Wealth Management LLC acquired a new stake in United Technologies during the 4th quarter worth approximately $340,000. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in United Technologies by 16.6% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,165 shares of the conglomerate’s stock worth $404,000 after acquiring an additional 450 shares during the period. Finally, TRUE Private Wealth Advisors lifted its position in United Technologies by 98.2% during the 4th quarter. TRUE Private Wealth Advisors now owns 7,515 shares of the conglomerate’s stock worth $958,000 after acquiring an additional 3,724 shares during the period. 79.54% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Elizabeth B. Amato sold 4,341 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $125.92, for a total value of $546,618.72. Following the completion of the transaction, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at approximately $3,667,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 $2,819,393.85. The disclosure for this sale can be found here. Insiders sold a total of 13,480 shares of company stock valued at $1,658,028 over the last ninety days. 0.16% of the stock is currently owned by company insiders.

A number of research firms have weighed in on UTX. 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. 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 for the company. 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. Argus raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Finally, ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $137.07.

Shares of United Technologies Co. (NYSE:UTX) opened at $133.58 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $106,830.00, a P/E ratio of 20.36, a PEG ratio of 2.09 and a beta of 1.08. United Technologies Co. has a 1-year low of $107.05 and a 1-year high of $139.24.

United Technologies (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $15.34 billion. During the same period last year, the business posted $1.56 EPS. United Technologies’s quarterly revenue was up 7.0% on a year-over-year basis. sell-side analysts anticipate that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 16th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, February 15th. United Technologies’s payout ratio is currently 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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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