Davis R M Inc. Boosts Position in United Technologies Co. (UTX)
Davis R M Inc. boosted its position in shares of United Technologies Co. (NYSE:UTX) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 265,069 shares of the conglomerate’s stock after acquiring an additional 12,592 shares during the quarter. Davis R M Inc.’s holdings in United Technologies were worth $30,769,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Knowledge Leaders Capital LLC bought a new stake in United Technologies during the third quarter valued at about $105,000. Tortoise Investment Management LLC grew its holdings in United Technologies by 5.3% during the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after purchasing an additional 48 shares during the period. Seven Bridges Advisors LLC bought a new stake in United Technologies during the second quarter valued at about $120,000. Winfield Associates Inc. grew its holdings in United Technologies by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after purchasing an additional 29 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new stake in United Technologies during the second quarter valued at about $131,000. Institutional investors own 80.07% of the company’s stock.
In other United Technologies news, VP Robert J. Bailey sold 864 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $126.01, for a total transaction of $108,872.64. Following the sale, the vice president now directly owns 2,000 shares in the company, valued at $252,020. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 636 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $124.35, for a total value of $79,086.60. Following the sale, 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 90 days, insiders have sold 16,466 shares of company stock worth $2,019,274. Company insiders own 0.16% of the company’s stock.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same period in the prior year, the business posted $1.76 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. equities research analysts predict that United Technologies Co. will post 6.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.20%. United Technologies’s dividend payout ratio (DPR) is presently 43.41%.
A number of equities analysts have recently weighed in on the company. Cowen reaffirmed a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research note on Tuesday, October 24th. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Stifel Nicolaus increased their price target on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $126.00 price target on shares of United Technologies in a research note on Tuesday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. United Technologies presently has an average rating of “Hold” and a consensus price target of $125.63.
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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