Beacon Financial Group Sells 1,182 Shares of United Technologies Co. (UTX)

Beacon Financial Group trimmed its position in shares of United Technologies Co. (NYSE:UTX) by 14.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,007 shares of the conglomerate’s stock after selling 1,182 shares during the quarter. Beacon Financial Group’s holdings in United Technologies were worth $813,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of UTX. FMR LLC raised its holdings in United Technologies by 13.2% in the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock valued at $2,514,316,000 after buying an additional 2,401,795 shares during the period. Harbour Capital Advisors LLC increased its stake in United Technologies by 11,652.2% during the second quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock worth $17,420,000 after purchasing an additional 2,109,056 shares during the period. Vanguard Group Inc. increased its stake in United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after purchasing an additional 848,623 shares during the period. Flossbach Von Storch AG increased its stake in shares of United Technologies by 95.6% during the second quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock worth $197,453,000 after buying an additional 790,496 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of United Technologies by 50.9% during the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock worth $274,067,000 after buying an additional 756,600 shares during the period. 80.20% of the stock is owned by hedge funds and other institutional investors.

Shares of United Technologies Co. (NYSE UTX) traded up $2.41 during mid-day trading on Friday, hitting $126.17. The stock had a trading volume of 6,190,000 shares, compared to its average volume of 2,996,031. United Technologies Co. has a twelve month low of $106.85 and a twelve month high of $126.44. The stock has a market capitalization of $100,755.58, a PE ratio of 19.06, a P/E/G ratio of 2.27 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter last year, the business posted $1.76 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. analysts forecast that United Technologies Co. will post 6.61 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Friday, November 17th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, November 16th. United Technologies’s payout ratio is currently 43.41%.

In other United Technologies news, VP Akhil Johri sold 5,979 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $121.03, for a total value of $723,638.37. Following the sale, the vice president now directly owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 636 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $124.35, for a total value of $79,086.60. Following the completion of the sale, the vice president now directly owns 1,500 shares in the company, valued at $186,525. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,261 shares of company stock worth $1,363,783. Corporate insiders own 0.16% of the company’s stock.

UTX has been the topic of a number of recent research reports. Jefferies Group restated a “buy” rating and set a $139.00 target price on shares of United Technologies in a research note on Tuesday, August 29th. Credit Suisse Group reaffirmed a “neutral” rating on shares of United Technologies in a report on Friday, September 1st. Vertical Research downgraded United Technologies from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Tuesday, September 5th. Cowen reissued a “buy” rating and issued a $127.00 price objective on shares of United Technologies in a report on Tuesday, September 5th. Finally, Bank of America reissued a “buy” rating and issued a $140.00 price objective on shares of United Technologies in a report on Wednesday, September 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $125.63.

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About United Technologies

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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