United Technologies Co. (UTX) Holdings Raised by Highstreet Asset Management Inc.
Highstreet Asset Management Inc. grew its holdings in United Technologies Co. (NYSE:UTX) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,358 shares of the conglomerate’s stock after acquiring an additional 2,849 shares during the quarter. Highstreet Asset Management Inc.’s holdings in United Technologies were worth $3,408,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Knowledge Leaders Capital LLC bought a new stake in shares of United Technologies in the third quarter worth about $105,000. Tortoise Investment Management LLC increased its holdings in shares of United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after acquiring an additional 48 shares in the last quarter. Seven Bridges Advisors LLC bought a new stake in shares of United Technologies in the second quarter worth about $120,000. Winfield Associates Inc. increased its holdings in shares of United Technologies by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after acquiring an additional 29 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of United Technologies in the second quarter worth about $131,000. Institutional investors own 80.07% of the company’s stock.
In related news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the transaction, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 827 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. Insiders have sold 16,466 shares of company stock valued at $2,019,274 over the last three months. Insiders own 0.16% of the company’s stock.
United Technologies Co. (UTX) opened at $127.23 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $101,665.94, a PE ratio of 19.73, a P/E/G ratio of 2.29 and a beta of 1.07. United Technologies Co. has a fifty-two week low of $106.85 and a fifty-two week high of $127.89.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the consensus estimate of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. analysts anticipate that United Technologies Co. will post 6.61 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Friday, November 17th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.20%. United Technologies’s dividend payout ratio (DPR) is presently 43.41%.
Several equities research analysts have issued reports on the company. Royal Bank of Canada restated a “hold” rating and issued a $126.00 price target on shares of United Technologies in a report on Tuesday, October 10th. Jefferies Group reiterated a “buy” rating and set a $139.00 price objective on shares of United Technologies in a report on Tuesday, August 29th. Cowen reiterated a “hold” rating and set a $120.00 price objective on shares of United Technologies in a report on Friday, November 10th. Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of United Technologies in a report on Friday, September 1st. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. United Technologies has a consensus rating of “Hold” and a consensus price target of $125.63.
United Technologies Company 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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