Alta Capital Management LLC boosted its stake in shares of United Technologies Co. (NYSE:UTX) by 5.0% in the 3rd quarter, Holdings Channel reports. The firm owned 172,303 shares of the conglomerate’s stock after buying an additional 8,271 shares during the quarter. Alta Capital Management LLC’s holdings in United Technologies were worth $24,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in UTX. Credit Agricole S A raised its stake in United Technologies by 101.4% during the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after purchasing an additional 436 shares during the last quarter. Jolley Asset Management LLC acquired a new position in United Technologies during the 2nd quarter valued at $114,000. Fort L.P. acquired a new position in United Technologies during the 2nd quarter valued at $120,000. WP Advisors LLC acquired a new position in United Technologies during the 2nd quarter valued at $126,000. Finally, Kiley Juergens Wealth Management LLC acquired a new position in United Technologies during the 2nd quarter valued at $127,000. Hedge funds and other institutional investors own 81.68% of the company’s stock.
UTX has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, September 20th. Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, July 10th. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Friday, October 12th. Wolfe Research initiated coverage on shares of United Technologies in a research note on Wednesday, June 27th. They issued an “outperform” rating for the company. Finally, ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. United Technologies presently has an average rating of “Buy” and a consensus target price of $149.70.
Shares of UTX stock opened at $128.94 on Friday. United Technologies Co. has a 52-week low of $115.40 and a 52-week high of $144.15. The firm has a market capitalization of $111.86 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.12 and a beta of 0.98. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.82.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The company had revenue of $16.71 billion during the quarter, compared to analysts’ expectations of $16.26 billion. During the same quarter in the prior year, the company posted $1.85 EPS. The business’s revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that United Technologies Co. will post 7.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, November 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is 42.11%.
In related news, VP Charles D. Gill sold 14,255 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the completion of the sale, the vice president now owns 55,029 shares in the company, valued at approximately $7,507,606.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Bailey sold 828 shares of the stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total transaction of $111,573.00. Following the sale, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $269,500. The disclosure for this sale can be found here. Insiders have sold a total of 18,511 shares of company stock valued at $2,521,974 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.
United Technologies Profile
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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