Whitnell & Co. grew its position in shares of United Technologies Co. (NYSE:UTX) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,079 shares of the conglomerate’s stock after acquiring an additional 3,100 shares during the quarter. Whitnell & Co.’s holdings in United Technologies were worth $2,741,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Phocas Financial Corp. purchased a new stake in United Technologies in the second quarter valued at $25,000. Krane Funds Advisors LLC acquired a new stake in United Technologies during the 2nd quarter worth $26,000. Transamerica Financial Advisors Inc. acquired a new position in United Technologies in the second quarter valued at $30,000. American National Bank acquired a new position in United Technologies in the third quarter valued at $34,000. Finally, Financial Management Professionals Inc. increased its stake in United Technologies by 3,600.0% in the third quarter. Financial Management Professionals Inc. now owns 259 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 252 shares during the period. 80.62% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on UTX. William Blair restated a “hold” rating on shares of United Technologies in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Sanford C. Bernstein boosted their price objective on shares of United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research report on Tuesday, September 17th. Wolfe Research set a $152.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Credit Suisse Group set a $162.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $154.69.
Shares of UTX stock traded up $0.15 on Friday, hitting $148.88. The stock had a trading volume of 1,668,146 shares, compared to its average volume of 3,289,642. The firm has a market capitalization of $127.63 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.07 and a beta of 1.22. The stock’s 50 day moving average is $138.67 and its 200-day moving average is $133.63. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 1.06. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $149.35.
United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.18. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.31 billion. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.93 earnings per share. Equities analysts expect that United Technologies Co. will post 8.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.94 annualized dividend and a yield of 1.97%. United Technologies’s payout ratio is 38.63%.
In related news, VP Robert J. Bailey sold 1,299 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total transaction of $193,771.83. Following the transaction, the vice president now owns 2,600 shares of the company’s stock, valued at $387,842. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Charles D. Gill sold 26,542 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $131.42, for a total transaction of $3,488,149.64. Following the transaction, the vice president now directly owns 103,458 shares in the company, valued at approximately $13,596,450.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,306 shares of company stock worth $25,914,056. 0.15% of the stock is owned by corporate insiders.
United Technologies Company Profile
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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