Bray Capital Advisors raised its position in shares of United Technologies Co. (NYSE:UTX) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,009 shares of the conglomerate’s stock after acquiring an additional 498 shares during the period. Bray Capital Advisors’ holdings in United Technologies were worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Knowledge Leaders Capital LLC bought a new position in shares of United Technologies during the 3rd quarter valued at approximately $105,000. Tortoise Investment Management LLC increased its position in shares of United Technologies by 5.3% during the 2nd 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 last quarter. Seven Bridges Advisors LLC bought a new position in shares of United Technologies during the 2nd quarter valued at approximately $120,000. Winfield Associates Inc. increased its position in shares of United Technologies by 2.9% during the 2nd 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 last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of United Technologies during the 2nd quarter valued at approximately $131,000. 80.07% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Robert J. Bailey sold 827 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total transaction of $97,635.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 864 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $126.01, for a total value of $108,872.64. Following the transaction, 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. Insiders have sold a total of 16,466 shares of company stock worth $2,019,274 in the last three months. Corporate insiders own 0.16% of the company’s stock.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company earned $1.76 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. equities research analysts expect that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Friday, November 17th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, November 16th. United Technologies’s payout ratio is 43.34%.
Several research firms have recently weighed in on UTX. Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday. Royal Bank of Canada raised United Technologies from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. They noted that the move was a valuation call. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Cowen reaffirmed a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research report on Friday, November 10th. Finally, Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $125.63.
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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