GSA Capital Partners LLP acquired a new stake in United Technologies Co. (NYSE:UTX) in the 4th quarter, HoldingsChannel reports. The fund acquired 38,464 shares of the conglomerate’s stock, valued at approximately $4,096,000. United Technologies makes up 0.5% of GSA Capital Partners LLP’s portfolio, making the stock its 14th largest holding.
A number of other hedge funds have also recently made changes to their positions in the stock. Columbia Asset Management boosted its position in shares of United Technologies by 1.9% during the 4th quarter. Columbia Asset Management now owns 11,221 shares of the conglomerate’s stock valued at $1,195,000 after purchasing an additional 208 shares in the last quarter. Mawer Investment Management Ltd. grew its stake in shares of United Technologies by 8.3% in the 4th quarter. Mawer Investment Management Ltd. now owns 1,015,456 shares of the conglomerate’s stock worth $108,097,000 after purchasing an additional 77,546 shares during the last quarter. Findlay Park Partners LLP bought a new stake in shares of United Technologies in the 4th quarter worth approximately $119,790,000. Insight Wealth Strategies LLC bought a new stake in shares of United Technologies in the 4th quarter worth approximately $435,000. Finally, Matrix Asset Advisors Inc. NY raised its holdings in shares of United Technologies by 0.7% in the 4th quarter. Matrix Asset Advisors Inc. NY now owns 136,611 shares of the conglomerate’s stock worth $14,546,000 after purchasing an additional 969 shares in the last quarter. 80.83% of the stock is owned by institutional investors and hedge funds.
In other United Technologies news, CEO Robert Kelly Ortberg sold 16,587 shares of United Technologies stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $126.59, for a total transaction of $2,099,748.33. Following the transaction, the chief executive officer now owns 70,211 shares of the company’s stock, valued at approximately $8,888,010.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert J. Bailey sold 1,418 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $126.20, for a total transaction of $178,951.60. The disclosure for this sale can be found here. Insiders have sold 97,770 shares of company stock worth $12,153,044 over the last three months. 0.15% of the stock is owned by insiders.
A number of analysts recently weighed in on UTX shares. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Wednesday, January 30th. Royal Bank of Canada increased their price objective on United Technologies to $129.00 and gave the company a “sector perform” rating in a research report on Thursday, January 24th. OTR Global lowered United Technologies to a “positive” rating in a research note on Friday, January 18th. Barclays decreased their target price on United Technologies from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, January 11th. Finally, JPMorgan Chase & Co. initiated coverage on United Technologies in a research report on Friday, February 22nd. They set an “overweight” rating and a $132.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $144.00.
NYSE UTX opened at $133.72 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.81 and a current ratio of 1.13. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $144.15. The company has a market cap of $114.43 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 1.90 and a beta of 1.20.
United Technologies (NYSE:UTX) last released its earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.42. The company had revenue of $18.04 billion during the quarter, compared to analyst estimates of $16.87 billion. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 earnings per share. As a group, equities analysts expect that United Technologies Co. will post 7.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, March 10th. Investors of record on Friday, February 15th were given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, February 14th. United Technologies’s payout ratio is 38.63%.
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.
See Also: Diluted Earnings Per Share
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.