Valmark Advisers Inc. acquired a new position in shares of United Technologies Co. (NYSE:UTX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,283 shares of the conglomerate’s stock, valued at approximately $419,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stephens Inc. AR grew its stake in shares of United Technologies by 5.9% in the 4th quarter. Stephens Inc. AR now owns 42,471 shares of the conglomerate’s stock worth $5,418,000 after acquiring an additional 2,348 shares in the last quarter. M&T Bank Corp grew its stake in shares of United Technologies by 2.0% in the 4th quarter. M&T Bank Corp now owns 647,767 shares of the conglomerate’s stock worth $82,636,000 after acquiring an additional 12,910 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of United Technologies by 19.2% in the 3rd quarter. Victory Capital Management Inc. now owns 42,601 shares of the conglomerate’s stock worth $4,945,000 after acquiring an additional 6,853 shares in the last quarter. Factory Mutual Insurance Co. grew its stake in shares of United Technologies by 1.7% in the 4th quarter. Factory Mutual Insurance Co. now owns 633,952 shares of the conglomerate’s stock worth $80,873,000 after acquiring an additional 10,300 shares in the last quarter. Finally, Mendel Money Management bought a new stake in shares of United Technologies in the 4th quarter worth $3,515,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.
UTX opened at $125.76 on Friday. The stock has a market cap of $99,900.31, a P/E ratio of 18.91, a P/E/G ratio of 1.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94. United Technologies Co. has a fifty-two week low of $109.10 and a fifty-two week high of $139.24.
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Shareholders 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 yield of 2.23%. United Technologies’s dividend payout ratio is presently 42.11%.
Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $146.00 target price (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Cowen reiterated a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research note on Thursday, January 25th. UBS started coverage on shares of United Technologies in a research report on Tuesday, January 23rd. They set a “buy” rating and a $158.00 price target for the company. Finally, Goldman Sachs upgraded shares of United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $139.07.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the completion of the transaction, the vice president now owns 4,900 shares in the company, valued at $661,255. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Bailey sold 419 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $133.73, for a total transaction of $56,032.87. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.
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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