Heritage Way Advisors LLC lifted its stake in United Technologies Co. (NYSE:UTX) by 104.1% during the 4th quarter, Holdings Channel reports. The firm owned 34,618 shares of the conglomerate’s stock after acquiring an additional 17,659 shares during the period. Heritage Way Advisors LLC’s holdings in United Technologies were worth $4,416,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Knowledge Leaders Capital LLC acquired a new stake in United Technologies during the 3rd quarter worth $105,000. Tortoise Investment Management LLC raised its stake in United Technologies by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after buying an additional 48 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in United Technologies during the 3rd quarter worth $118,000. Thompson Davis & CO. Inc. raised its stake in United Technologies by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after buying an additional 953 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its stake in United Technologies by 3.8% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock worth $133,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 79.54% of the company’s stock.
Shares of United Technologies Co. (UTX) opened at $126.46 on Wednesday. United Technologies Co. has a 12 month low of $107.05 and a 12 month high of $139.24. The stock has a market capitalization of $101,140.00, a PE ratio of 19.28, a price-to-earnings-growth ratio of 2.13 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 (NYSE:UTX) last released its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The firm had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same quarter last year, the business posted $1.56 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. equities research analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 16th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Thursday, February 15th. United Technologies’s dividend payout ratio is currently 42.68%.
Several analysts recently commented on UTX shares. Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Cowen reaffirmed a “hold” rating and set a $141.00 price objective on shares of United Technologies in a research note on Sunday, February 11th. Sanford C. Bernstein reaffirmed a “positive” rating and set a $153.00 price objective (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Finally, Barclays started coverage on United Technologies in a research note on Thursday, February 15th. They set an “overweight” rating and a $157.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. United Technologies presently has an average rating of “Buy” and a consensus target price of $137.07.
In related news, EVP Elizabeth B. Amato sold 4,341 shares of United Technologies stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $125.92, for a total value of $546,618.72. Following the sale, the executive vice president now owns 29,122 shares of the company’s stock, valued at $3,667,042.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,480 shares of company stock worth $1,658,028. 0.16% of the stock is owned by company insiders.
United Technologies Company 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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