Norinchukin Bank The raised its position in shares of United Technologies Co. (NYSE:UTX) by 20.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 381,673 shares of the conglomerate’s stock after acquiring an additional 65,132 shares during the period. United Technologies accounts for 0.9% of Norinchukin Bank The’s investment portfolio, making the stock its 17th biggest position. Norinchukin Bank The’s holdings in United Technologies were worth $48,690,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Knowledge Leaders Capital LLC acquired a new position in shares of United Technologies in the third quarter worth $105,000. Wealthcare Advisory Partners LLC acquired a new position in shares of United Technologies in the third quarter worth $118,000. Thompson Davis & CO. Inc. increased 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 acquiring an additional 953 shares during the last quarter. Taylor Hoffman Wealth Management acquired a new position in shares of United Technologies in the fourth quarter worth $140,000. Finally, Rowland & Co. Investment Counsel ADV increased 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 acquiring an additional 3 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors.
UTX stock opened at $122.76 on Friday. 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 52-week low of $109.10 and a 52-week high of $139.24. The stock has a market cap of $100,588.12, a price-to-earnings ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.08.
The company also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is 42.11%.
In other United Technologies news, VP Robert J. Bailey sold 2,032 shares of the company’s 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 sale, the vice president now directly owns 4,900 shares in the company, valued at $661,255. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert J. Bailey sold 419 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were 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 corporate insiders.
A number of equities analysts have recently weighed in on UTX shares. Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Cowen reiterated a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a report on Sunday, February 11th. Sanford C. Bernstein reiterated a “positive” rating and issued a $153.00 price objective (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Barclays started coverage on shares of United Technologies in a report on Thursday, February 15th. They issued an “overweight” rating and a $157.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a report on Saturday, January 20th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. United Technologies has a consensus rating of “Buy” and a consensus target price of $139.07.
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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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