Huntington National Bank lifted its holdings in shares of United Technologies Co. (NYSE:UTX) by 4.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 348,950 shares of the conglomerate’s stock after buying an additional 14,714 shares during the quarter. Huntington National Bank’s holdings in United Technologies were worth $48,787,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in UTX. Summit Trail Advisors LLC boosted its stake in shares of United Technologies by 9,086.4% during the first quarter. Summit Trail Advisors LLC now owns 414,672 shares of the conglomerate’s stock worth $415,000 after buying an additional 410,158 shares during the period. Principal Financial Group Inc. lifted its position in United Technologies by 10.6% in the first quarter. Principal Financial Group Inc. now owns 1,317,730 shares of the conglomerate’s stock valued at $165,797,000 after purchasing an additional 126,621 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in United Technologies in the first quarter valued at about $1,057,000. Mount Yale Investment Advisors LLC acquired a new stake in United Technologies in the first quarter valued at about $1,599,000. Finally, Neville Rodie & Shaw Inc. acquired a new stake in United Technologies in the second quarter valued at about $9,740,000. Institutional investors and hedge funds own 81.79% of the company’s stock.
In other news, VP Robert J. Bailey sold 828 shares of United Technologies stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total transaction of $111,573.00. Following the completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $269,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Charles D. Gill sold 14,255 shares of United Technologies stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the sale, the vice president now owns 55,029 shares of the company’s stock, valued at $7,507,606.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,511 shares of company stock valued at $2,521,974. Insiders own 0.17% of the company’s stock.
Shares of NYSE:UTX opened at $128.68 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.10. The stock has a market capitalization of $103.16 billion, a P/E ratio of 19.35, a PEG ratio of 1.96 and a beta of 0.98. United Technologies Co. has a 52 week low of $115.40 and a 52 week high of $144.15.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The firm had revenue of $16.71 billion during the quarter, compared to the consensus estimate of $16.26 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts anticipate that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.28%. This is an increase from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, November 15th. United Technologies’s dividend payout ratio (DPR) is presently 42.11%.
A number of brokerages recently commented on UTX. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Friday, October 12th. Robert W. Baird raised their price objective on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, September 20th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. UBS Group began coverage on shares of United Technologies in a research report on Wednesday, August 15th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research report on Tuesday, July 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $149.70.
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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