Schafer Cullen Capital Management Inc. Trims Stake in United Technologies Corporation (UTX)

Schafer Cullen Capital Management Inc. trimmed its holdings in United Technologies Corporation (NYSE:UTX) by 34.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,850 shares of the conglomerate’s stock after selling 990 shares during the quarter. Schafer Cullen Capital Management Inc.’s holdings in United Technologies were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tortoise Investment Management LLC boosted its position in shares of United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 48 shares during the period. Seven Bridges Advisors LLC acquired a new position in shares of United Technologies in the second quarter valued at $120,000. Winfield Associates Inc. raised its stake in shares of United Technologies by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after purchasing an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of United Technologies in the second quarter valued at $131,000. Finally, Alexandria Capital LLC raised its stake in shares of United Technologies by 0.3% in the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after purchasing an additional 3 shares in the last quarter. 80.20% of the stock is owned by institutional investors.

A number of research analysts recently commented on UTX shares. Jefferies Group restated a “buy” rating and issued a $139.00 target price on shares of United Technologies in a research note on Tuesday, August 29th. Credit Suisse Group restated a “neutral” rating on shares of United Technologies in a research note on Friday, September 1st. Vertical Research lowered United Technologies from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research note on Tuesday, September 5th. Cowen restated a “buy” rating and issued a $127.00 target price on shares of United Technologies in a research note on Tuesday, September 5th. Finally, Bank of America restated a “buy” rating and issued a $140.00 target price on shares of United Technologies in a research note on Wednesday, September 6th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. United Technologies has an average rating of “Hold” and a consensus price target of $125.63.

In related news, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Akhil Johri sold 5,979 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the completion of the transaction, the vice president now owns 23,295 shares in the company, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,625 shares of company stock valued at $1,284,696. 0.16% of the stock is currently owned by corporate insiders.

Shares of United Technologies Corporation (UTX) traded up $0.18 during trading hours on Wednesday, hitting $123.48. The stock had a trading volume of 3,528,200 shares, compared to its average volume of 3,040,845. United Technologies Corporation has a 52 week low of $106.85 and a 52 week high of $124.79. The firm has a market capitalization of $98,463.68, a price-to-earnings ratio of 18.63, a PEG ratio of 2.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The company had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. During the same period last year, the company posted $1.76 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. analysts predict that United Technologies Corporation will post 6.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Friday, November 17th were paid a $0.70 dividend. The ex-dividend date was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. United Technologies’s dividend payout ratio (DPR) is presently 43.41%.

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

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