Granite Investment Partners LLC decreased its stake in shares of United Technologies Co. (NYSE:UTX) by 16.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,750 shares of the conglomerate’s stock after selling 1,350 shares during the period. Granite Investment Partners LLC’s holdings in United Technologies were worth $861,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Knowledge Leaders Capital LLC bought a new stake in shares of United Technologies during the 3rd quarter valued at about $105,000. Wealthcare Advisory Partners LLC bought a new stake in shares of United Technologies during the 3rd quarter valued at about $118,000. Thompson Davis & CO. Inc. boosted its stake in shares of United Technologies by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after purchasing an additional 953 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in shares of United Technologies by 3.8% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock valued at $133,000 after purchasing an additional 40 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV boosted its stake in shares of United Technologies by 0.3% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after purchasing an additional 3 shares in the last quarter. 81.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of United Technologies Co. (UTX) opened at $134.07 on Monday. United Technologies Co. has a 52 week low of $109.10 and a 52 week high of $139.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35. The company has a market cap of $107,230.00, a PE ratio of 20.44, a P/E/G ratio of 2.21 and a beta of 1.05.
The company also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 16th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.80 annualized dividend and a yield of 2.09%. United Technologies’s dividend payout ratio (DPR) is presently 42.68%.
In other United Technologies news, EVP Elizabeth B. Amato sold 4,341 shares of United Technologies stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $125.92, for a total value of $546,618.72. Following the completion of the transaction, the executive vice president now directly owns 29,122 shares of the company’s stock, valued at $3,667,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Bailey sold 636 shares of United Technologies stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $124.35, for a total transaction of $79,086.60. Following the completion of the transaction, the vice president now directly owns 1,500 shares of the company’s stock, valued at $186,525. The disclosure for this sale can be found here. Insiders sold 8,292 shares of company stock valued at $1,064,829 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.
UTX has been the topic of a number of research reports. Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Cowen reissued a “hold” rating and set a $141.00 price objective on shares of United Technologies in a research note on Sunday, February 11th. Sanford C. Bernstein reissued a “positive” rating and set a $153.00 price objective (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Barclays began coverage on shares of United Technologies in a research note on Thursday, February 15th. They set an “overweight” rating and a $157.00 price objective on the stock. Finally, Royal Bank of Canada set a $126.00 price objective on shares of United Technologies and gave the stock a “hold” rating in a research note on Sunday, November 12th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. United Technologies has a consensus rating of “Buy” and an average target price of $137.20.
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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.
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