Oppenheimer & Co. Inc. lessened its holdings in United Technologies Co. (NYSE:UTX) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 72,535 shares of the conglomerate’s stock after selling 3,368 shares during the period. Oppenheimer & Co. Inc.’s holdings in United Technologies were worth $9,253,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Knowledge Leaders Capital LLC bought a new stake in shares of United Technologies during the third quarter worth about $105,000. Wealthcare Advisory Partners LLC bought a new stake in shares of United Technologies during the third quarter worth about $118,000. Thompson Davis & CO. Inc. grew its holdings in shares of United Technologies by 750.4% during the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after purchasing an additional 953 shares during the last quarter. Rowland & Co. Investment Counsel ADV grew its holdings in shares of United Technologies by 0.3% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock worth $143,000 after purchasing an additional 3 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. bought a new stake in shares of United Technologies during the third quarter worth about $178,000. Institutional investors own 81.86% of the company’s stock.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.95, for a total value of $274,218.40. Following the transaction, the vice president now directly owns 4,900 shares of the company’s stock, valued at $661,255. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert J. Bailey sold 419 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total value of $56,032.87. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.
United Technologies (NYSE:UTX) last announced its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. During the same period in the prior year, the business posted $1.56 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. equities analysts predict that United Technologies Co. will post 7.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 49.12%.
Several analysts have recently weighed in on UTX shares. Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Cowen restated a “hold” rating and set a $141.00 price target on shares of United Technologies in a report on Sunday, February 11th. Sanford C. Bernstein restated a “positive” rating and set a $153.00 price target (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Barclays started coverage on United Technologies in a report on Thursday, February 15th. They set an “overweight” rating and a $157.00 price target on the stock. Finally, Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a report on Saturday, January 20th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $137.00.
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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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