United Technologies Co. (UTX) Position Lifted by Penserra Capital Management LLC

Penserra Capital Management LLC increased its holdings in shares of United Technologies Co. (NYSE:UTX) by 76.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,480 shares of the conglomerate’s stock after acquiring an additional 2,381 shares during the quarter. Penserra Capital Management LLC’s holdings in United Technologies were worth $689,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Connecticut Wealth Management LLC increased its holdings in shares of United Technologies by 44.4% during the 1st quarter. Connecticut Wealth Management LLC now owns 15,950 shares of the conglomerate’s stock worth $1,970,000 after acquiring an additional 4,905 shares during the last quarter. Buckley Wealth Management LLC increased its holdings in shares of United Technologies by 9.0% during the 1st quarter. Buckley Wealth Management LLC now owns 19,736 shares of the conglomerate’s stock worth $2,483,000 after acquiring an additional 1,637 shares during the last quarter. Fagan Associates Inc. increased its holdings in shares of United Technologies by 3.1% during the 1st quarter. Fagan Associates Inc. now owns 31,865 shares of the conglomerate’s stock worth $4,009,000 after acquiring an additional 970 shares during the last quarter. Harwood Advisory Group LLC acquired a new position in shares of United Technologies during the 1st quarter worth approximately $327,000. Finally, Meridian Wealth Management LLC increased its holdings in shares of United Technologies by 50.4% during the 1st quarter. Meridian Wealth Management LLC now owns 3,155 shares of the conglomerate’s stock worth $397,000 after acquiring an additional 1,057 shares during the last quarter. 82.20% of the stock is currently owned by institutional investors and hedge funds.

NYSE:UTX opened at $128.05 on Tuesday. The firm has a market cap of $100.16 billion, a PE ratio of 18.01, a P/E/G ratio of 1.93 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 0.77. United Technologies Co. has a fifty-two week low of $109.10 and a fifty-two week high of $139.24.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. The firm had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $14.62 billion. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 EPS. research analysts expect that United Technologies Co. will post 7.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Friday, May 18th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.19%. United Technologies’s payout ratio is 42.11%.

In related news, Director Fredric G. Reynolds bought 9,000 shares of the business’s stock in a transaction dated Friday, April 27th. The stock was purchased at an average cost of $121.58 per share, for a total transaction of $1,094,220.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert J. Mcdonough sold 10,770 shares of the company’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $119.09, for a total value of $1,282,599.30. Following the sale, the insider now owns 40,612 shares of the company’s stock, valued at $4,836,483.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,778 shares of company stock valued at $2,425,001. Corporate insiders own 0.17% of the company’s stock.

A number of research analysts recently weighed in on UTX shares. Cowen reissued a “hold” rating and set a $141.00 target price on shares of United Technologies in a report on Thursday, January 25th. Barclays started coverage on United Technologies in a research note on Thursday, February 15th. They issued an “overweight” rating and a $157.00 price target for the company. Daiwa Capital Markets upgraded United Technologies from a “hold” rating to an “outperform” rating in a research note on Tuesday, May 8th. UBS set a $155.00 price target on United Technologies and gave the company a “buy” rating in a research note on Thursday, March 15th. Finally, Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $138.21.

About United Technologies

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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

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