ARGA Investment Management LP boosted its stake in United Technologies Co. (NYSE:UTX) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,700 shares of the conglomerate’s stock after acquiring an additional 2,600 shares during the period. United Technologies accounts for 0.3% of ARGA Investment Management LP’s investment portfolio, making the stock its 26th largest holding. ARGA Investment Management LP’s holdings in United Technologies were worth $2,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the stock. Stephens Inc. AR lifted its stake in United Technologies by 5.9% in the fourth quarter. Stephens Inc. AR now owns 42,471 shares of the conglomerate’s stock valued at $5,418,000 after buying an additional 2,348 shares during the period. M&T Bank Corp lifted its stake in United Technologies by 2.0% in the fourth quarter. M&T Bank Corp now owns 647,767 shares of the conglomerate’s stock valued at $82,636,000 after buying an additional 12,910 shares during the period. Rockefeller Financial Services Inc. lifted its stake in United Technologies by 133.1% in the fourth quarter. Rockefeller Financial Services Inc. now owns 32,684 shares of the conglomerate’s stock valued at $4,169,000 after buying an additional 18,660 shares during the period. Victory Capital Management Inc. lifted its stake in United Technologies by 19.2% in the third quarter. Victory Capital Management Inc. now owns 42,601 shares of the conglomerate’s stock valued at $4,945,000 after buying an additional 6,853 shares during the period. Finally, Factory Mutual Insurance Co. lifted its stake in United Technologies by 1.7% in the fourth quarter. Factory Mutual Insurance Co. now owns 633,952 shares of the conglomerate’s stock valued at $80,873,000 after buying an additional 10,300 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.
Several brokerages have issued reports on UTX. Sanford C. Bernstein reissued a “positive” rating and issued a $153.00 price target (up from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Stifel Nicolaus reissued a “hold” rating and issued a $146.00 price target (up from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. UBS began coverage on United Technologies in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 price target on the stock. Royal Bank of Canada raised 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. Finally, Cowen reissued a “hold” rating and issued a $141.00 price target on shares of United Technologies in a research note on Sunday, February 11th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $139.07.
In related news, VP Robert J. Bailey sold 419 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $133.73, for a total value of $56,032.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Bailey sold 2,032 shares of the 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 completion of the sale, the vice president now directly owns 4,900 shares of the company’s stock, valued at $661,255. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
Shares of NYSE:UTX opened at $122.76 on Monday. 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 twelve month low of $109.10 and a twelve month high of $139.24. The company has a market cap of $98,180.75, a PE ratio of 18.46, a PEG ratio of 1.86 and a beta of 1.08.
United Technologies (NYSE:UTX) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.34 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. United Technologies’s revenue for the quarter was up 7.0% on a year-over-year basis. equities analysts predict that United Technologies Co. will post 7.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 16th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Thursday, February 15th. United Technologies’s payout ratio is currently 42.11%.
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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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