WINTON GROUP Ltd cut its stake in United Technologies Co. (NYSE:UTX) by 29.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,073 shares of the conglomerate’s stock after selling 20,412 shares during the period. WINTON GROUP Ltd’s holdings in United Technologies were worth $6,300,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cypress Capital Group raised its holdings in United Technologies by 10.8% in the 1st quarter. Cypress Capital Group now owns 25,680 shares of the conglomerate’s stock valued at $3,231,000 after acquiring an additional 2,510 shares in the last quarter. Rational Advisors LLC raised its holdings in United Technologies by 416.3% in the 1st quarter. Rational Advisors LLC now owns 14,457 shares of the conglomerate’s stock valued at $1,819,000 after acquiring an additional 11,657 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in United Technologies by 6.2% in the 1st quarter. Wesbanco Bank Inc. now owns 132,636 shares of the conglomerate’s stock valued at $16,688,000 after acquiring an additional 7,802 shares in the last quarter. CIBC World Markets Inc. raised its holdings in United Technologies by 125.5% in the 1st quarter. CIBC World Markets Inc. now owns 52,739 shares of the conglomerate’s stock valued at $6,636,000 after acquiring an additional 29,349 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in United Technologies by 14.1% in the 1st quarter. Moors & Cabot Inc. now owns 66,689 shares of the conglomerate’s stock valued at $8,391,000 after acquiring an additional 8,249 shares in the last quarter. 81.57% of the stock is owned by hedge funds and other institutional investors.
In other United Technologies news, VP Charles D. Gill sold 9,700 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $128.47, for a total value of $1,246,159.00. Following the sale, the vice president now owns 25,029 shares in the company, valued at approximately $3,215,475.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert J. Mcdonough sold 10,770 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $119.09, for a total value of $1,282,599.30. Following the completion of the sale, the insider now owns 40,612 shares in the company, valued at approximately $4,836,483.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,286 shares of company stock valued at $4,143,938. Insiders own 0.17% of the company’s stock.
Several brokerages have weighed in on UTX. Zacks Investment Research cut United Technologies from a “hold” rating to a “sell” rating in a report on Friday, April 13th. ValuEngine cut United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Morgan Stanley began coverage on United Technologies in a report on Friday, June 15th. They issued an “overweight” rating and a $160.00 price objective for the company. Stifel Nicolaus dropped their price objective on United Technologies from $131.00 to $127.00 and set a “hold” rating for the company in a report on Wednesday, April 25th. Finally, UBS Group set a $155.00 price target on United Technologies and gave the stock a “buy” rating in a report on Thursday, March 15th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $140.31.
United Technologies stock opened at $123.48 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 0.77. United Technologies Co. has a 52 week low of $109.10 and a 52 week high of $139.24. The firm has a market cap of $100.30 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.26. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The business had revenue of $15.24 billion during the quarter, compared to analysts’ expectations of $14.62 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. research analysts forecast that United Technologies Co. will post 7.13 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.27%. United Technologies’s payout ratio is presently 42.11%.
United Technologies Company 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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