Godsey & Gibb Associates lessened its holdings in United Technologies Co. (NYSE:UTX) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 114,116 shares of the conglomerate’s stock after selling 1,302 shares during the quarter. United Technologies comprises approximately 2.4% of Godsey & Gibb Associates’ holdings, making the stock its 16th biggest position. Godsey & Gibb Associates’ holdings in United Technologies were worth $14,557,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in United Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock valued at $6,693,250,000 after purchasing an additional 848,623 shares during the last quarter. BlackRock Inc. lifted its stake in United Technologies by 0.3% in the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock valued at $5,384,561,000 after purchasing an additional 133,036 shares during the last quarter. FMR LLC lifted its stake in United Technologies by 13.2% in the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after purchasing an additional 2,401,795 shares during the last quarter. Capital Research Global Investors lifted its stake in United Technologies by 3.6% in the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock valued at $1,072,082,000 after purchasing an additional 304,989 shares during the last quarter. Finally, Boston Partners lifted its stake in United Technologies by 5.3% in the third quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock valued at $634,658,000 after purchasing an additional 274,184 shares during the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.
UTX has been the topic of several research analyst reports. Robert W. Baird upgraded 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 research note on Sunday, February 11th. Sanford C. Bernstein reiterated a “positive” rating and issued a $153.00 price objective (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Barclays initiated coverage on United Technologies in a research note on Thursday, February 15th. They issued an “overweight” rating and a $157.00 price objective on the stock. Finally, Royal Bank of Canada set a $126.00 price objective on United Technologies and gave the company a “hold” rating in a research note on Sunday, November 12th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $137.07.
In other news, VP Robert J. Bailey sold 864 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at $252,020. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 827 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. Insiders have sold a total of 13,899 shares of company stock worth $1,714,061 in the last three months. Insiders own 0.16% of the company’s stock.
Shares of United Technologies Co. (UTX) opened at $133.15 on Friday. 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 Co. has a 1-year low of $107.05 and a 1-year high of $139.24. The stock has a market cap of $106,490.00, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08.
United Technologies (NYSE:UTX) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The business had revenue of $15.68 billion for the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities research analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.10%. United Technologies’s payout ratio is 42.68%.
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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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