Old Mutual Global Investors UK Ltd. lowered its position in United Technologies Co. (NYSE:UTX) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,844 shares of the conglomerate’s stock after selling 4,368 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in United Technologies were worth $8,920,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Knowledge Leaders Capital LLC acquired a new stake in United Technologies during the 3rd quarter valued at $105,000. Tortoise Investment Management LLC grew its holdings in United Technologies by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after buying an additional 48 shares during the last quarter. Seven Bridges Advisors LLC acquired a new stake in United Technologies during the 2nd quarter valued at $120,000. Thompson Davis & CO. Inc. grew its holdings in United Technologies by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after buying an additional 953 shares during the last quarter. Finally, Winfield Associates Inc. grew its holdings in United Technologies by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
Shares of United Technologies Co. (NYSE:UTX) opened at $130.45 on Friday. United Technologies Co. has a fifty-two week low of $106.85 and a fifty-two week high of $130.87. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $104,170.00, a price-to-earnings ratio of 20.19, a PEG ratio of 2.23 and a beta of 1.07.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Friday, November 17th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, November 16th. United Technologies’s dividend payout ratio (DPR) is 43.34%.
A number of equities research analysts have commented on the company. Royal Bank of Canada upgraded United Technologies from a “sector perform” rating to an “outperform” rating in a report on Wednesday. They noted that the move was a valuation call. Cowen reiterated a “hold” rating and set a $120.00 target price on shares of United Technologies in a report on Tuesday, October 24th. Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Stifel Nicolaus increased their target price on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. United Technologies currently has a consensus rating of “Hold” and a consensus price target of $125.63.
In related news, EVP Elizabeth B. Amato sold 4,341 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $125.92, for a total value of $546,618.72. Following the transaction, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at approximately $3,667,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Akhil Johri sold 5,979 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $121.03, for a total value of $723,638.37. Following the completion of the transaction, the vice president now directly owns 23,295 shares in the company, valued at $2,819,393.85. The disclosure for this sale can be found here. Insiders have sold 16,466 shares of company stock worth $2,019,274 in the last 90 days. Insiders own 0.16% of the company’s stock.
United Technologies 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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