United Technologies Co. (UTX) Holdings Boosted by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its holdings in United Technologies Co. (NYSE:UTX) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 96,183 shares of the conglomerate’s stock after purchasing an additional 1,099 shares during the quarter. Pinnacle Associates Ltd.’s holdings in United Technologies were worth $12,270,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. Mutual Advisors LLC acquired a new position in shares of United Technologies during the fourth quarter valued at $300,000. Brown Advisory Securities LLC lifted its stake in shares of United Technologies by 37.2% during the fourth quarter. Brown Advisory Securities LLC now owns 10,315 shares of the conglomerate’s stock valued at $1,320,000 after acquiring an additional 2,797 shares during the period. ARGA Investment Management LP lifted its stake in shares of United Technologies by 13.6% during the fourth quarter. ARGA Investment Management LP now owns 21,700 shares of the conglomerate’s stock valued at $2,768,000 after acquiring an additional 2,600 shares during the period. State of Tennessee Treasury Department lifted its stake in shares of United Technologies by 20.2% during the fourth quarter. State of Tennessee Treasury Department now owns 618,600 shares of the conglomerate’s stock valued at $78,915,000 after acquiring an additional 103,981 shares during the period. Finally, First Republic Investment Management Inc. lifted its stake in shares of United Technologies by 3.4% during the fourth quarter. First Republic Investment Management Inc. now owns 815,376 shares of the conglomerate’s stock valued at $104,017,000 after acquiring an additional 26,586 shares during the period. 81.89% of the stock is currently owned by institutional investors.

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In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction dated Monday, February 26th. The stock was 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 in the company, valued at $661,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on the company. 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. Stifel Nicolaus reaffirmed a “hold” rating and set a $146.00 price target (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. UBS assumed coverage on United Technologies in a research note on Tuesday, January 23rd. They set 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 reaffirmed a “hold” rating and set a $141.00 price target on shares of United Technologies in a research note on Sunday, February 11th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $139.07.

NYSE UTX opened at $122.76 on Monday. The stock has a market capitalization of $98,180.75, a P/E ratio of 18.46, a P/E/G ratio of 1.86 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 12 month low of $109.10 and a 12 month high of $139.24.

United Technologies (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. The business had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.56 earnings per share. equities research analysts predict that United Technologies Co. will post 7.04 EPS for the current year.

The firm 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. The ex-dividend date was Thursday, February 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.28%. United Technologies’s dividend payout ratio (DPR) 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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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