Hikari Power Ltd Grows Holdings in United Technologies Co. (UTX)
Hikari Power Ltd grew its holdings in shares of United Technologies Co. (NYSE:UTX) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 165,650 shares of the conglomerate’s stock after buying an additional 4,850 shares during the period. United Technologies makes up approximately 2.5% of Hikari Power Ltd’s investment portfolio, making the stock its 10th largest holding. Hikari Power Ltd’s holdings in United Technologies were worth $21,132,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Rowland & Co. Investment Counsel ADV increased its position in United Technologies by 0.3% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock worth $143,000 after purchasing an additional 3 shares during the period. Jackson Grant Investment Advisers Inc. increased its position in United Technologies by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 8 shares during the period. Mosaic Family Wealth LLC increased its position in United Technologies by 0.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 4,357 shares of the conglomerate’s stock worth $532,000 after purchasing an additional 14 shares during the period. Hudock Capital Group LLC increased its position in United Technologies by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 3,705 shares of the conglomerate’s stock worth $452,000 after purchasing an additional 15 shares during the period. Finally, Laurel Wealth Advisors Inc. increased its position in United Technologies by 0.3% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 5,943 shares of the conglomerate’s stock worth $725,000 after purchasing an additional 18 shares during the period. Institutional investors own 79.87% of the company’s stock.
In related news, EVP Elizabeth B. Amato sold 4,341 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 29,122 shares of the company’s stock, valued at approximately $3,667,042.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert J. Bailey sold 864 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $252,020. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,480 shares of company stock worth $1,658,028. 0.16% of the stock is owned by corporate insiders.
United Technologies (NYSE:UTX) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The firm had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. During the same quarter in the prior year, the company earned $1.56 EPS. United Technologies’s revenue was up 7.0% on a year-over-year basis. equities analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 16th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Thursday, February 15th. United Technologies’s payout ratio is currently 49.12%.
Several research firms have issued reports on UTX. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and set a $146.00 price target (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Cowen reissued a “hold” rating and set a $141.00 price target on shares of United Technologies in a research note on Thursday, January 25th. UBS Group initiated coverage on United Technologies in a research note on Tuesday, January 23rd. They set a “buy” rating and a $158.00 price target on the stock. Finally, Goldman Sachs Group raised United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $136.15.
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About United Technologies
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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