Columbia Asset Management Reduces Position in United Technologies Corporation (UTX)

Columbia Asset Management trimmed its position in shares of United Technologies Corporation (NYSE:UTX) by 0.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,232 shares of the conglomerate’s stock after selling 80 shares during the quarter. Columbia Asset Management’s holdings in United Technologies were worth $1,371,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Weatherstone Capital Management increased its position in shares of United Technologies by 13.0% during the second quarter. Weatherstone Capital Management now owns 2,526 shares of the conglomerate’s stock worth $308,000 after purchasing an additional 290 shares in the last quarter. Modera Wealth Management LLC acquired a new position in United Technologies during the second quarter worth $203,000. FCG Advisors LLC boosted its stake in United Technologies by 43.5% during the second quarter. FCG Advisors LLC now owns 3,295 shares of the conglomerate’s stock worth $402,000 after buying an additional 999 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its stake in United Technologies by 2.2% during the second quarter. Aberdeen Asset Management PLC UK now owns 537,384 shares of the conglomerate’s stock worth $65,620,000 after buying an additional 11,614 shares during the last quarter. Finally, Private Wealth Advisors Inc. boosted its stake in United Technologies by 5.5% during the second quarter. Private Wealth Advisors Inc. now owns 24,856 shares of the conglomerate’s stock worth $3,035,000 after buying an additional 1,305 shares during the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.

In related news, VP Robert J. Bailey sold 827 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total transaction of $97,635.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael R. Dumais sold 2,986 shares of the 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 directly owns 27,548 shares in the company, valued at approximately $3,332,757.04. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Shares of United Technologies Corporation (NYSE UTX) traded up $1.09 during trading on Monday, hitting $121.21. The stock had a trading volume of 1,188,116 shares, compared to its average volume of 3,038,684. United Technologies Corporation has a twelve month low of $106.85 and a twelve month high of $124.79. The firm has a market cap of $95,924.23, a price-to-earnings ratio of 18.15, a PEG ratio of 2.16 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 (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same quarter in the prior year, the company posted $1.76 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. research analysts expect that United Technologies Corporation will post 6.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies’s dividend payout ratio (DPR) is presently 43.41%.

UTX has been the topic of a number of recent research reports. Zacks Investment Research lowered United Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Cowen lowered United Technologies from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $127.00 to $120.00 in a research note on Wednesday, September 6th. Bank of America reissued a “buy” rating and set a $140.00 price objective on shares of United Technologies in a research note on Wednesday, September 6th. Jefferies Group reissued a “buy” rating and set a $139.00 price objective on shares of United Technologies in a research note on Tuesday, August 29th. Finally, Credit Suisse Group reissued a “neutral” rating on shares of United Technologies in a research note on Friday, September 1st. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. United Technologies has a consensus rating of “Hold” and an average target price of $125.15.

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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.

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

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