Meyer Handelman Co. Sells 676 Shares of United Technologies Co. (UTX)

Meyer Handelman Co. decreased its holdings in United Technologies Co. (NYSE:UTX) by 0.4% in the 4th quarter, HoldingsChannel reports. The firm owned 170,901 shares of the conglomerate’s stock after selling 676 shares during the quarter. Meyer Handelman Co.’s holdings in United Technologies were worth $21,802,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Knowledge Leaders Capital LLC bought a new position in shares of United Technologies in the third quarter worth $105,000. Wealthcare Advisory Partners LLC bought a new position in shares of United Technologies in the third quarter worth $118,000. Thompson Davis & CO. Inc. grew its stake in shares of United Technologies by 750.4% in 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 in the last quarter. Rowland & Co. Investment Counsel ADV grew its stake in shares of United Technologies by 0.3% in 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 in the last quarter. Finally, Aries Wealth Management bought a new position in shares of United Technologies in the fourth quarter worth $204,000. 81.86% of the stock is owned by institutional investors.

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In other news, VP Robert J. Bailey sold 2,032 shares of the company’s 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 completion of the sale, the vice president now directly owns 4,900 shares of the company’s stock, valued at $661,255. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 419 shares of the company’s stock in a transaction 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. Corporate insiders own 0.16% of the company’s stock.

Several research firms have recently issued reports on UTX. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $146.00 price target (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Cowen reissued a “hold” rating and issued a $141.00 price target on shares of United Technologies in a research note on Thursday, January 25th. UBS assumed coverage on United Technologies in a research note on Tuesday, January 23rd. They set a “buy” rating and a $158.00 target price for the company. Finally, Goldman Sachs raised United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. United Technologies currently has a consensus rating of “Buy” and an average price target of $137.00.

Shares of United Technologies Co. (NYSE UTX) opened at $122.31 on Monday. 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 market capitalization of $97,820.84, a price-to-earnings ratio of 21.46, a PEG ratio of 1.85 and a beta of 1.05. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80.

United Technologies (NYSE:UTX) last announced its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the prior year, the business posted $1.56 earnings per share. United Technologies’s revenue was up 7.0% compared to the same quarter last year. sell-side analysts anticipate that United Technologies Co. will post 7.04 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 16th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, February 15th. United Technologies’s dividend payout ratio is 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.

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

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