CIBC World Markets Inc. lowered its holdings in shares of United Technologies Co. (NYSE:UTX) by 88.8% in the 4th quarter, HoldingsChannel reports. The firm owned 23,390 shares of the conglomerate’s stock after selling 186,064 shares during the period. CIBC World Markets Inc.’s holdings in United Technologies were worth $2,984,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Knowledge Leaders Capital LLC bought a new position in United Technologies during the third quarter valued at approximately $105,000. Wealthcare Advisory Partners LLC bought a new position in United Technologies during the third quarter valued at approximately $118,000. Thompson Davis & CO. Inc. boosted its stake in United Technologies by 750.4% during the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock valued at $125,000 after buying an additional 953 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in United Technologies by 3.8% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock valued at $133,000 after buying an additional 40 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV boosted its stake in United Technologies by 0.3% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock valued at $143,000 after buying an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 81.51% of the company’s stock.
Shares of United Technologies Co. (NYSE:UTX) opened at $134.07 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. United Technologies Co. has a fifty-two week low of $109.10 and a fifty-two week high of $139.24. The firm has a market capitalization of $107,230.00, a P/E ratio of 20.44, a PEG ratio of 2.21 and a beta of 1.05.
The firm also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 16th were issued a $0.70 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.09%. United Technologies’s payout ratio is 42.68%.
In other news, EVP Elizabeth B. Amato sold 4,341 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $125.92, for a total value of $546,618.72. Following the sale, the executive vice president now directly owns 29,122 shares in the company, valued at $3,667,042.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert J. Bailey sold 419 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $133.73, for a total value of $56,032.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,292 shares of company stock worth $1,064,829. Company insiders own 0.16% of the company’s stock.
UTX has been the subject of a number of research reports. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Goldman Sachs Group raised United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Cowen reaffirmed a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a research note on Thursday, January 25th. Finally, Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a research note on Saturday, January 20th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $137.20.
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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.
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