United Technologies Co. (UTX) Position Raised by M&T Bank Corp

M&T Bank Corp increased its holdings in shares of United Technologies Co. (NYSE:UTX) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 647,767 shares of the conglomerate’s stock after purchasing an additional 12,910 shares during the period. M&T Bank Corp owned approximately 0.08% of United Technologies worth $82,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UTX. Beach Investment Management LLC. acquired a new stake in United Technologies in the second quarter valued at approximately $434,000. State of Tennessee Treasury Department grew its stake in United Technologies by 33.9% in the second quarter. State of Tennessee Treasury Department now owns 595,084 shares of the conglomerate’s stock valued at $72,667,000 after acquiring an additional 150,693 shares during the period. Pictet & Cie Europe SA grew its stake in United Technologies by 4.4% in the second quarter. Pictet & Cie Europe SA now owns 74,008 shares of the conglomerate’s stock valued at $9,037,000 after acquiring an additional 3,100 shares during the period. Community Bank & Trust Waco Texas acquired a new stake in United Technologies in the second quarter valued at approximately $272,000. Finally, Thompson Siegel & Walmsley LLC grew its stake in United Technologies by 3.8% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock valued at $133,000 after acquiring an additional 40 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

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A number of equities research analysts have commented on the company. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Cowen reissued a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a research note on Thursday, January 25th. Stifel Nicolaus reissued a “hold” rating and issued a $146.00 price objective (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Sanford C. Bernstein reissued a “positive” rating and issued a $153.00 price objective (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Finally, Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. United Technologies currently has an average rating of “Buy” and an average target price of $137.00.

In related news, VP Robert J. Bailey sold 2,032 shares of United Technologies stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.95, for a total transaction of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

UTX stock opened at $122.31 on Friday. United Technologies Co. has a fifty-two week low of $109.10 and a fifty-two week high of $139.24. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $101,571.84, a P/E ratio of 21.46, a PEG ratio of 1.92 and a beta of 1.05.

United Technologies (NYSE:UTX) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same quarter last year, the company earned $1.56 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. sell-side analysts forecast that United Technologies Co. will post 7.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 16th were issued 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 yield of 2.29%. United Technologies’s dividend payout ratio (DPR) is currently 49.12%.

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United Technologies Company 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.

Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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