Aspire Private Capital LLC purchased a new position in shares of United Technologies Co. (NYSE:UTX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,033 shares of the conglomerate’s stock, valued at approximately $110,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Kentucky Retirement Systems purchased a new stake in United Technologies in the 3rd quarter valued at about $7,931,000. Headinvest LLC boosted its position in United Technologies by 264.6% in the 4th quarter. Headinvest LLC now owns 48,202 shares of the conglomerate’s stock valued at $5,133,000 after buying an additional 34,980 shares during the period. Dodge & Cox boosted its position in United Technologies by 25.7% in the 3rd quarter. Dodge & Cox now owns 2,200 shares of the conglomerate’s stock valued at $308,000 after buying an additional 450 shares during the period. Semmax Financial Advisors Inc. purchased a new stake in United Technologies in the 4th quarter valued at about $70,000. Finally, Drexel Morgan & Co. boosted its position in United Technologies by 4.1% in the 4th quarter. Drexel Morgan & Co. now owns 12,530 shares of the conglomerate’s stock valued at $1,334,000 after buying an additional 491 shares during the period. 80.53% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Robert J. Bailey sold 1,418 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $126.20, for a total value of $178,951.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Kelly Ortberg sold 16,587 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $126.59, for a total transaction of $2,099,748.33. Following the completion of the sale, the chief executive officer now directly owns 70,211 shares in the company, valued at $8,888,010.49. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
Several equities research analysts have issued reports on UTX shares. Goldman Sachs Group raised shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 price objective for the company in a research report on Friday, February 1st. Bank of America reissued a “buy” rating and issued a $185.00 price objective on shares of United Technologies in a research report on Thursday, January 24th. Seaport Global Securities started coverage on shares of United Technologies in a report on Friday, May 10th. They issued a “neutral” rating and a $136.86 price target for the company. Royal Bank of Canada boosted their price target on shares of United Technologies to $129.00 and gave the company a “sector perform” rating in a report on Thursday, January 24th. Finally, Barclays boosted their price target on shares of United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $148.07.
United Technologies stock traded down $0.62 during mid-day trading on Wednesday, reaching $135.41. 1,757,107 shares of the company traded hands, compared to its average volume of 3,861,640. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 0.98. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The firm has a market capitalization of $116.47 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.91 and a beta of 1.23.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.20. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The business had revenue of $18.37 billion for the quarter, compared to analyst estimates of $18.01 billion. During the same quarter in the prior year, the business posted $1.77 EPS. United Technologies’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, sell-side analysts predict that United Technologies Co. will post 7.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.735 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.17%. United Technologies’s payout ratio is 38.63%.
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About United Technologies
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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