Baird Financial Group Inc. lifted its position in shares of United Technologies Co. (NYSE:UTX) by 6.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 420,580 shares of the conglomerate’s stock after purchasing an additional 26,415 shares during the period. Baird Financial Group Inc.’s holdings in United Technologies were worth $53,653,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Knowledge Leaders Capital LLC acquired a new stake in United Technologies in the 3rd quarter valued at $105,000. Wealthcare Advisory Partners LLC acquired a new stake in United Technologies in the 3rd quarter valued at $118,000. Thompson Davis & CO. Inc. increased its holdings in United Technologies by 750.4% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after purchasing an additional 953 shares in the last quarter. Taylor Hoffman Wealth Management acquired a new stake in United Technologies in the 4th quarter valued at $140,000. Finally, Trustcore Financial Services LLC acquired a new stake in United Technologies in the 4th quarter valued at $143,000. Institutional investors and hedge funds own 81.89% of the company’s stock.
Shares of UTX stock opened at $122.76 on Friday. 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 Co. has a one year low of $109.10 and a one year high of $139.24. The stock has a market cap of $100,588.12, a PE ratio of 18.46, a P/E/G ratio of 1.90 and a beta of 1.08.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, topping the 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 business had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter last year, the company posted $1.56 earnings per share. The company’s quarterly 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 year.
The business also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 16th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.28%. United Technologies’s payout ratio is 42.11%.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the firm’s stock in a transaction dated 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 owns 4,900 shares of the company’s stock, valued at $661,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 419 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $133.73, for a total transaction of $56,032.87. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Several analysts have recently weighed in on the company. Goldman Sachs upgraded United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Cowen restated a “hold” rating and set a $141.00 target price on shares of United Technologies in a research note on Thursday, January 25th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a research note on Saturday, January 20th. Finally, Barclays assumed coverage on United Technologies in a research note on Thursday, February 15th. They set an “overweight” rating and a $157.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target 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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