Exchange Capital Management Inc. decreased its stake in United Technologies Co. (NYSE:UTX) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,729 shares of the conglomerate’s stock after selling 1,786 shares during the quarter. United Technologies accounts for about 1.7% of Exchange Capital Management Inc.’s portfolio, making the stock its 17th largest position. Exchange Capital Management Inc.’s holdings in United Technologies were worth $4,686,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in UTX. Beach Investment Management LLC. bought a new stake in shares of United Technologies in the second quarter worth about $434,000. Bellwether Investment Group LLC increased its holdings in shares of United Technologies by 5.0% in the second quarter. Bellwether Investment Group LLC now owns 1,877 shares of the conglomerate’s stock worth $229,000 after acquiring an additional 89 shares in the last quarter. Homrich & Berg increased its holdings in shares of United Technologies by 0.5% in the second quarter. Homrich & Berg now owns 4,455 shares of the conglomerate’s stock worth $544,000 after acquiring an additional 20 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC increased its holdings in shares of United Technologies by 4.8% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,933 shares of the conglomerate’s stock worth $480,000 after acquiring an additional 179 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of United Technologies by 2.0% during the second quarter. Principal Financial Group Inc. now owns 1,082,462 shares of the conglomerate’s stock worth $132,179,000 after buying an additional 20,821 shares in the last quarter. 82.38% of the stock is currently owned by hedge funds and other institutional investors.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.95, for a total value of $274,218.40. Following the completion of the transaction, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.
UTX has been the subject of a number of research reports. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a report on Saturday, January 20th. Goldman Sachs upgraded United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. UBS initiated coverage on United Technologies in a report on Tuesday, January 23rd. They set a “buy” rating and a $158.00 price objective for the company. Argus upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $137.00.
United Technologies Co. (NYSE:UTX) opened at $128.33 on Friday. 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 $103,371.35, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. United Technologies Co. has a one year low of $109.10 and a one year high of $139.24.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. The firm had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $1.56 earnings per share. equities research analysts predict that United Technologies Co. will post 7.05 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were paid a $0.70 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.18%. United Technologies’s dividend payout ratio 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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