Ballentine Partners LLC lifted its holdings in United Technologies Co. (NYSE:UTX) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,213 shares of the conglomerate’s stock after acquiring an additional 783 shares during the period. Ballentine Partners LLC’s holdings in United Technologies were worth $920,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. FMR LLC raised its stake in shares of United Technologies by 13.2% during the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after acquiring an additional 2,401,795 shares in the last quarter. Stifel Financial Corp raised its stake 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 acquiring an additional 1,072,641 shares in the last quarter. Vanguard Group Inc. raised its stake 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 acquiring an additional 848,623 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake 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 acquiring an additional 756,600 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake 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 acquiring an additional 673,800 shares in the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.
UTX stock traded down $3.00 during trading on Friday, hitting $122.76. 4,454,101 shares of the company’s stock traded hands, compared to its average volume of 4,618,601. The firm has a market cap of $100,580.13, a price-to-earnings ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.08. 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 Co. has a 1 year low of $109.10 and a 1 year high of $139.24.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same period last year, the company posted $1.56 earnings per share. United Technologies’s revenue was up 7.0% compared to the same quarter last year. analysts anticipate that United Technologies Co. will post 7.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, February 15th. United Technologies’s dividend payout ratio is currently 42.11%.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of United Technologies stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.95, for a total value of $274,218.40. Following the transaction, the vice president now directly owns 4,900 shares of the company’s stock, valued at $661,255. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.
Several analysts have recently weighed in on UTX shares. 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. Barclays lifted their price target on shares of United Technologies from $157.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Sanford C. Bernstein reaffirmed a “positive” rating and set a $153.00 price target (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Finally, UBS set a $155.00 price target on shares of United Technologies and gave the company a “buy” rating in a research note on Thursday, March 15th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. United Technologies has an average rating of “Buy” and a consensus price target of $139.07.
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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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