Greystone Investment Management LLC acquired a new stake in United Technologies Co. (NYSE:UTX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,650 shares of the conglomerate’s stock, valued at approximately $210,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its stake in United Technologies by 13.2% during the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares during the last quarter. Stifel Financial Corp lifted its stake in United Technologies by 14,827.8% during the third quarter. Stifel Financial Corp now owns 1,079,875 shares of the conglomerate’s stock worth $125,442,000 after purchasing an additional 1,072,641 shares during the last quarter. Vanguard Group Inc. lifted its stake in United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after purchasing an additional 848,623 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in United Technologies by 50.9% during the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock worth $274,067,000 after purchasing an additional 756,600 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in United Technologies by 325.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 880,900 shares of the conglomerate’s stock worth $107,567,000 after purchasing an additional 673,800 shares during the last quarter. Institutional investors and hedge funds own 79.54% of the company’s stock.
Several research firms recently weighed in on UTX. Barclays boosted their target price on United Technologies from $157.00 to $159.00 and gave the stock an “overweight” rating in a research note on Monday. Stifel Nicolaus reaffirmed a “hold” rating and set a $139.00 price target on shares of United Technologies in a research report on Friday, February 16th. Cowen reaffirmed a “hold” rating and set a $141.00 price target on shares of United Technologies in a research report on Sunday, February 11th. Argus raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Finally, ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $137.20.
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, beating the Zacks’ consensus estimate of $1.56 by $0.04. The business had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 earnings per share. sell-side analysts forecast that United Technologies Co. will post 7.05 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 16th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, February 15th. United Technologies’s payout ratio is currently 42.68%.
In other news, VP Robert J. Bailey sold 833 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $122.66, for a total value of $102,175.78. Following the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $245,320. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 2,032 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.95, for a total value of $274,218.40. Following the completion of the transaction, the vice president now directly owns 4,900 shares in the company, valued at approximately $661,255. The disclosure for this sale can be found here. In the last three months, insiders sold 15,104 shares of company stock worth $1,890,643. Corporate insiders own 0.16% of the company’s stock.
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About United Technologies
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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