Pinnacle Advisory Group Inc. acquired a new stake in shares of United Technologies Co. (NYSE:UTX) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,634 shares of the conglomerate’s stock, valued at approximately $208,000.
Other institutional investors have also recently bought and sold shares of the company. Knowledge Leaders Capital LLC acquired a new position in shares of United Technologies in the 3rd quarter worth approximately $105,000. Wealthcare Advisory Partners LLC acquired a new position in shares of United Technologies in the 3rd quarter worth approximately $118,000. Thompson Davis & CO. Inc. lifted its holdings in shares of United Technologies by 750.4% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after acquiring an additional 953 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of United Technologies by 3.8% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock worth $133,000 after acquiring an additional 40 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV lifted its holdings in shares of United Technologies by 0.3% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock worth $143,000 after acquiring an additional 3 shares during the last quarter. 79.54% of the stock is owned by institutional investors and hedge funds.
In other United Technologies news, VP Robert J. Bailey sold 864 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at approximately $252,020. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 419 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total transaction of $56,032.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,899 shares of company stock worth $1,714,061. 0.16% of the stock is owned by company insiders.
United Technologies (NYSE:UTX) last released its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.04. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.56 EPS. equities analysts predict that United Technologies Co. will post 7.04 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.07%. United Technologies’s dividend payout ratio (DPR) is presently 42.68%.
UTX has been the topic of several recent analyst reports. Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Cowen restated a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a report on Sunday, February 11th. Sanford C. Bernstein restated a “positive” rating and issued a $153.00 price objective (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Barclays initiated coverage on shares of United Technologies in a report on Thursday, February 15th. They issued an “overweight” rating and a $157.00 price objective on the stock. Finally, Royal Bank of Canada set a $126.00 price objective on shares of United Technologies and gave the stock a “hold” rating in a report on Sunday, November 12th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $137.20.
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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