Comerica Bank lessened its position in shares of United Technologies Co. (NYSE:UTX) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 260,665 shares of the conglomerate’s stock after selling 6,144 shares during the period. Comerica Bank’s holdings in United Technologies were worth $35,367,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in UTX. Beach Investment Management LLC. bought a new stake in shares of United Technologies in the 2nd quarter worth approximately $434,000. Sfmg LLC bought a new stake in shares of United Technologies in the 2nd quarter worth approximately $330,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of United Technologies by 2.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 32,344 shares of the conglomerate’s stock worth $3,951,000 after purchasing an additional 623 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of United Technologies by 14.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 184,004 shares of the conglomerate’s stock worth $22,469,000 after purchasing an additional 23,623 shares during the last quarter. Finally, BDO Wealth Advisors LLC bought a new stake in shares of United Technologies in the 2nd quarter worth approximately $844,000. 82.38% of the stock is currently owned by institutional investors.
United Technologies Co. (NYSE UTX) opened at $131.50 on Tuesday. United Technologies Co. has a 1 year low of $109.10 and a 1 year high of $139.24. The stock has a market capitalization of $105,170.00, a price-to-earnings ratio of 20.05, a PEG ratio of 2.21 and a beta of 1.05. 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 also recently declared a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 16th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 42.68%.
Several brokerages recently issued reports on UTX. Barclays raised their price target on United Technologies from $157.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Stifel Nicolaus restated a “hold” rating and issued a $139.00 target price on shares of United Technologies in a research report on Friday, February 16th. Cowen restated a “hold” rating and issued a $141.00 target price on shares of United Technologies in a research report on Sunday, February 11th. Argus upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Finally, ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $137.20.
In related news, EVP Elizabeth B. Amato sold 4,341 shares of United Technologies stock in a transaction 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 transaction, the executive vice president now directly owns 29,122 shares in the company, valued at approximately $3,667,042.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 636 shares of United Technologies stock in a transaction on 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 transaction, the vice president now owns 1,500 shares in the company, valued at $186,525. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,292 shares of company stock worth $1,064,829. 0.16% of the stock is owned by insiders.
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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.
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