Brasada Capital Management LP acquired a new stake in shares of United Technologies Co. (NYSE:UTX) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 6,000 shares of the conglomerate’s stock, valued at approximately $755,000.
A number of other large investors have also bought and sold shares of UTX. Morningstar Investment Services LLC raised its position in United Technologies by 6.3% during the first quarter. Morningstar Investment Services LLC now owns 261,808 shares of the conglomerate’s stock valued at $32,941,000 after purchasing an additional 15,624 shares in the last quarter. Stephens Inc. AR raised its position in United Technologies by 5.9% during the fourth quarter. Stephens Inc. AR now owns 42,471 shares of the conglomerate’s stock valued at $5,418,000 after purchasing an additional 2,348 shares in the last quarter. Pinnacle Associates Ltd. raised its position in United Technologies by 1.2% during the fourth quarter. Pinnacle Associates Ltd. now owns 96,183 shares of the conglomerate’s stock valued at $12,270,000 after purchasing an additional 1,099 shares in the last quarter. M&T Bank Corp raised its position in United Technologies by 2.0% during the fourth quarter. M&T Bank Corp now owns 647,767 shares of the conglomerate’s stock valued at $82,636,000 after purchasing an additional 12,910 shares in the last quarter. Finally, BlackRock Inc. raised its position in United Technologies by 1.8% during the fourth quarter. BlackRock Inc. now owns 46,850,302 shares of the conglomerate’s stock valued at $5,976,695,000 after purchasing an additional 822,595 shares in the last quarter. 81.57% of the stock is owned by institutional investors.
In related news, VP Charles D. Gill sold 9,700 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $128.47, for a total transaction of $1,246,159.00. Following the transaction, the vice president now owns 25,029 shares in the company, valued at approximately $3,215,475.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth B. Amato sold 6,557 shares of the business’s stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $123.86, for a total value of $812,150.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,286 shares of company stock worth $4,143,938. 0.17% of the stock is owned by company insiders.
A number of equities research analysts have weighed in on UTX shares. UBS Group set a $155.00 price target on United Technologies and gave the company a “buy” rating in a research report on Thursday, March 15th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Tuesday, May 22nd. ValuEngine downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Stifel Nicolaus decreased their price objective on United Technologies from $131.00 to $127.00 and set a “hold” rating on the stock in a report on Wednesday, April 25th. Finally, Cowen reiterated a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a report on Tuesday, April 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $140.31.
Shares of United Technologies opened at $123.48 on Friday, Marketbeat reports. United Technologies Co. has a 1 year low of $109.10 and a 1 year high of $139.24. The stock has a market cap of $100.05 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.
United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The company had revenue of $15.24 billion for the quarter, compared to the consensus estimate of $14.62 billion. During the same quarter in the previous year, the business earned $1.48 EPS. United Technologies’s revenue was up 10.3% compared to the same quarter last year. analysts expect that United Technologies Co. will post 7.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.27%. United Technologies’s dividend payout ratio is presently 42.11%.
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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