Cipher Capital LP Purchases New Stake in United Technologies Corporation (UTX)

Cipher Capital LP purchased a new position in shares of United Technologies Corporation (NYSE:UTX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,956 shares of the conglomerate’s stock, valued at approximately $5,001,000.

A number of other large investors also recently modified their holdings of the stock. Hikari Power Ltd grew its position in United Technologies Corporation by 35.8% during the second quarter. Hikari Power Ltd now owns 153,700 shares of the conglomerate’s stock worth $18,768,000 after buying an additional 40,500 shares in the last quarter. Delta Lloyd Asset Management N.V. acquired a new stake in United Technologies Corporation during the second quarter worth approximately $13,048,000. Swiss National Bank boosted its holdings in shares of United Technologies Corporation by 0.9% in the 2nd quarter. Swiss National Bank now owns 2,797,221 shares of the conglomerate’s stock valued at $341,569,000 after purchasing an additional 25,500 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of United Technologies Corporation by 14.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 13,145 shares of the conglomerate’s stock valued at $1,605,000 after purchasing an additional 1,685 shares in the last quarter. Finally, Sentry Investments Corp. boosted its holdings in shares of United Technologies Corporation by 7.1% in the 2nd quarter. Sentry Investments Corp. now owns 121,400 shares of the conglomerate’s stock valued at $14,824,000 after purchasing an additional 8,100 shares in the last quarter. 78.33% of the stock is currently owned by institutional investors and hedge funds.

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In related news, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the transaction, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

A number of brokerages have weighed in on UTX. Zacks Investment Research raised United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. BidaskClub raised United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Vertical Research downgraded United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, September 5th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a report on Sunday, August 13th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $120.00 target price on shares of United Technologies Corporation in a report on Tuesday, October 24th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $125.15.

United Technologies Corporation (NYSE:UTX) opened at $117.04 on Wednesday. The stock has a market capitalization of $93,460.00, a price-to-earnings ratio of 17.60, a P/E/G ratio of 2.10 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 12-month low of $106.85 and a 12-month high of $124.79.

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

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio is currently 43.34%.

About United Technologies Corporation

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.

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

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