Toronto Dominion Bank raised its position in United Technologies Co. (NYSE:UTX) by 20.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 288,845 shares of the conglomerate’s stock after buying an additional 49,205 shares during the period. Toronto Dominion Bank’s holdings in United Technologies were worth $35,272,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of UTX. PGGM Investments boosted its holdings in shares of United Technologies by 52.4% during the 2nd quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock worth $91,486,000 after purchasing an additional 257,582 shares during the last quarter. Connecticut Wealth Management LLC boosted its holdings in shares of United Technologies by 10.1% during the 2nd quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock worth $1,473,000 after purchasing an additional 1,098 shares during the last quarter. Huntington National Bank boosted its holdings in shares of United Technologies by 3.7% during the 2nd quarter. Huntington National Bank now owns 284,531 shares of the conglomerate’s stock worth $34,744,000 after purchasing an additional 10,025 shares during the last quarter. Pioneer Investment Management Inc. boosted its holdings in shares of United Technologies by 2.1% during the 1st quarter. Pioneer Investment Management Inc. now owns 1,223,811 shares of the conglomerate’s stock worth $137,324,000 after purchasing an additional 25,625 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of United Technologies by 0.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,695,965 shares of the conglomerate’s stock worth $207,154,000 after purchasing an additional 9,664 shares during the last quarter. Institutional investors own 80.20% of the company’s stock.
Several research analysts have recently weighed in on the company. Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Royal Bank of Canada set a $126.00 target price on United Technologies and gave the stock a “hold” rating in a report on Sunday, November 12th. Cowen restated a “hold” rating and set a $120.00 target price on shares of United Technologies in a report on Friday, November 10th. Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Stifel Nicolaus boosted their target price on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. United Technologies presently has an average rating of “Hold” and an average target price of $125.63.
United Technologies (NYSE:UTX) last released 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. The firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.76 EPS. sell-side analysts forecast that United Technologies Co. will post 6.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Thursday, November 16th. United Technologies’s payout ratio is 43.41%.
In other United Technologies news, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 833 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $122.66, for a total value of $102,175.78. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $245,320. The disclosure for this sale can be found here. In the last three months, insiders sold 10,625 shares of company stock worth $1,284,696. 0.16% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.