Sumitomo Life Insurance Co. lessened its position in shares of United Technologies Co. (NYSE:UTX) by 4.6% during the 4th quarter, HoldingsChannel reports. The firm owned 25,444 shares of the conglomerate’s stock after selling 1,235 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in United Technologies were worth $3,246,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in UTX. Beach Investment Management LLC. acquired a new stake in United Technologies in the 2nd quarter valued at $434,000. Parallel Advisors LLC boosted its stake in United Technologies by 0.4% in the 2nd quarter. Parallel Advisors LLC now owns 14,518 shares of the conglomerate’s stock valued at $1,721,000 after buying an additional 65 shares in the last quarter. American Asset Management Inc. boosted its stake in United Technologies by 19.3% in the 2nd quarter. American Asset Management Inc. now owns 2,737 shares of the conglomerate’s stock valued at $334,000 after buying an additional 442 shares in the last quarter. Sfmg LLC acquired a new stake in United Technologies in the 2nd quarter valued at $330,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in United Technologies by 2.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 32,344 shares of the conglomerate’s stock valued at $3,951,000 after buying an additional 623 shares in the last quarter. 81.51% of the stock is currently owned by institutional investors.
UTX has been the topic of several recent analyst reports. Royal Bank of Canada raised United Technologies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Barclays boosted their price target on United Technologies from $157.00 to $159.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Sanford C. Bernstein reaffirmed a “positive” rating and issued a $153.00 price target (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Finally, Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $137.20.
Shares of United Technologies Co. (UTX) opened at $134.07 on Friday. The firm has a market capitalization of $107,230.00, a price-to-earnings ratio of 20.44, a PEG ratio of 2.16 and a beta of 1.05. United Technologies Co. has a 52-week low of $109.10 and a 52-week high of $139.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35.
United Technologies (NYSE:UTX) last released its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. The company had revenue of $15.68 billion during the quarter, compared to the consensus estimate of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.56 earnings per share. research analysts forecast that United Technologies Co. will post 7.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 16th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.09%. United Technologies’s payout ratio is currently 42.68%.
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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