Sandy Spring Bank boosted its position in United Technologies Co. (NYSE:UTX) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,062 shares of the conglomerate’s stock after buying an additional 3,364 shares during the period. United Technologies makes up approximately 0.9% of Sandy Spring Bank’s portfolio, making the stock its 25th biggest position. Sandy Spring Bank’s holdings in United Technologies were worth $9,830,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV increased its holdings in United Technologies by 0.3% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock worth $143,000 after purchasing an additional 3 shares in the last quarter. Jackson Grant Investment Advisers Inc. increased its holdings in United Technologies by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 8 shares in the last quarter. Laurel Wealth Advisors Inc. increased its holdings in United Technologies by 0.3% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 5,943 shares of the conglomerate’s stock worth $725,000 after purchasing an additional 18 shares in the last quarter. Homrich & Berg increased its holdings in United Technologies by 0.5% during the 2nd quarter. Homrich & Berg now owns 4,455 shares of the conglomerate’s stock worth $544,000 after purchasing an additional 20 shares in the last quarter. Finally, Monetary Management Group Inc. increased its holdings in United Technologies by 0.3% during the 2nd quarter. Monetary Management Group Inc. now owns 8,075 shares of the conglomerate’s stock worth $986,000 after purchasing an additional 25 shares in the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.
In related news, VP Robert J. Bailey sold 2,032 shares of the company’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 transaction, the vice president now owns 4,900 shares in the company, valued at $661,255. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.
Shares of UTX stock traded down $3.00 during trading on Friday, hitting $122.76. The company’s stock had a trading volume of 4,454,247 shares, compared to its average volume of 4,618,601. The firm has a market cap of $100,580.13, a PE ratio of 18.46, a P/E/G 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 52 week low of $109.10 and a 52 week high of $139.24.
United Technologies (NYSE:UTX) last released its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) 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 company had revenue of $15.68 billion during the quarter, compared to analyst estimates of $15.34 billion. During the same period in the prior year, the company posted $1.56 earnings per share. United Technologies’s quarterly revenue was up 7.0% on a year-over-year basis. research analysts expect that United Technologies Co. will post 7.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Investors 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 annualized dividend and a yield of 2.28%. United Technologies’s payout ratio is 42.11%.
A number of brokerages have commented on UTX. Sanford C. Bernstein reissued a “positive” rating and set a $153.00 price objective (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Stifel Nicolaus reissued a “hold” rating and set a $146.00 price objective (up from $124.00) on shares of United Technologies in a report on Thursday, January 25th. UBS began 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. Royal Bank of Canada raised United Technologies from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Finally, Cowen reissued a “hold” rating and set a $141.00 price objective on shares of United Technologies in a report on Sunday, February 11th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $139.07.
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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.
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