Charter Research & Investment Group Inc. Invests $2.47 Million in United Technologies Co. (UTX)

Charter Research & Investment Group Inc. bought a new position in United Technologies Co. (NYSE:UTX) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 19,361 shares of the conglomerate’s stock, valued at approximately $2,470,000. United Technologies accounts for approximately 2.8% of Charter Research & Investment Group Inc.’s investment portfolio, making the stock its 12th largest holding.

Other large investors also recently bought and sold shares of the company. Sandy Spring Bank increased its stake in United Technologies by 4.6% during the 4th quarter. Sandy Spring Bank now owns 77,062 shares of the conglomerate’s stock valued at $9,830,000 after purchasing an additional 3,364 shares in the last quarter. Notis McConarty Edward grew its stake in shares of United Technologies by 3.9% in the fourth quarter. Notis McConarty Edward now owns 36,156 shares of the conglomerate’s stock worth $4,612,000 after acquiring an additional 1,370 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of United Technologies by 8.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 143,044 shares of the conglomerate’s stock worth $18,248,000 after acquiring an additional 11,062 shares during the period. Puzo Michael J grew its stake in shares of United Technologies by 31.8% in the fourth quarter. Puzo Michael J now owns 47,214 shares of the conglomerate’s stock worth $6,022,000 after acquiring an additional 11,390 shares during the period. Finally, Ballentine Partners LLC grew its stake in shares of United Technologies by 12.2% in the fourth quarter. Ballentine Partners LLC now owns 7,213 shares of the conglomerate’s stock worth $920,000 after acquiring an additional 783 shares during the period. 81.89% of the stock is owned by hedge funds and other institutional investors.

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Several analysts recently issued reports on the stock. Royal Bank of Canada upgraded shares of United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday, January 5th. Goldman Sachs raised shares of United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a report on Saturday, January 20th. Finally, UBS initiated coverage on shares of United Technologies in a report on Tuesday, January 23rd. They set a “buy” rating and a $158.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $139.07.

Shares of NYSE UTX traded down $3.00 during mid-day trading on Friday, reaching $122.76. The company had a trading volume of 4,454,101 shares, compared to its average volume of 4,618,601. United Technologies Co. has a 52 week low of $109.10 and a 52 week high of $139.24. The stock has a market cap of $100,580.13, a PE ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.08. 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 (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.04. The company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 earnings per share. sell-side analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Thursday, February 15th. United Technologies’s payout ratio is 42.11%.

In related news, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 4,900 shares of the company’s stock, valued at approximately $661,255. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

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About United Technologies

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.

Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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