Baker Ellis Asset Management LLC increased its position in United Technologies Co. (NYSE:UTX) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,469 shares of the conglomerate’s stock after purchasing an additional 500 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in United Technologies were worth $1,860,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Newman Dignan & Sheerar Inc. boosted its stake in United Technologies by 1.1% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 8,234 shares of the conglomerate’s stock valued at $877,000 after acquiring an additional 86 shares during the last quarter. Cim LLC boosted its stake in United Technologies by 4.0% during the 4th quarter. Cim LLC now owns 2,280 shares of the conglomerate’s stock valued at $243,000 after acquiring an additional 87 shares during the last quarter. Pineno Levin & Ford Asset Management Inc. boosted its stake in United Technologies by 2.0% during the 4th quarter. Pineno Levin & Ford Asset Management Inc. now owns 4,794 shares of the conglomerate’s stock valued at $510,000 after acquiring an additional 93 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in United Technologies by 3.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,221 shares of the conglomerate’s stock valued at $343,000 after acquiring an additional 95 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. boosted its stake in United Technologies by 1.6% during the 4th quarter. Burke & Herbert Bank & Trust Co. now owns 6,068 shares of the conglomerate’s stock valued at $646,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.
Shares of NYSE:UTX opened at $126.90 on Tuesday. The firm has a market cap of $108.51 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.81 and a current ratio of 1.13.
The firm also recently announced a quarterly dividend, which was paid on Sunday, March 10th. Shareholders of record on Friday, February 15th were issued a dividend of $0.735 per share. The ex-dividend date was Thursday, February 14th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.32%. United Technologies’s dividend payout ratio (DPR) is 38.63%.
In related news, Chairman Gregory Hayes sold 35,942 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $123.81, for a total value of $4,449,979.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael R. Dumais sold 9,620 shares of the stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $119.12, for a total transaction of $1,145,934.40. Following the completion of the sale, the executive vice president now directly owns 35,627 shares in the company, valued at approximately $4,243,888.24. The disclosure for this sale can be found here. Insiders have sold 97,770 shares of company stock worth $12,153,044 over the last three months. 0.17% of the stock is owned by corporate insiders.
UTX has been the topic of a number of research analyst reports. Goldman Sachs Group upgraded shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 price objective on the stock in a research note on Friday, February 1st. Jefferies Financial Group set a $148.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, November 27th. OTR Global downgraded shares of United Technologies to a “positive” rating in a research note on Friday, January 18th. Bank of America reiterated a “buy” rating and set a $185.00 price objective on shares of United Technologies in a research note on Thursday, January 24th. Finally, Barclays dropped their target price on shares of United Technologies from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, January 11th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $143.08.
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United Technologies Profile
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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