23,422 Shares in United Technologies Co. (UTX) Purchased by First Hawaiian Bank

First Hawaiian Bank purchased a new stake in United Technologies Co. (NYSE:UTX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,422 shares of the conglomerate’s stock, valued at approximately $3,274,000.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of United Technologies by 2.7% in the 2nd quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock valued at $3,308,428,000 after purchasing an additional 707,417 shares during the period. Third Point LLC lifted its stake in shares of United Technologies by 7.0% in the 2nd quarter. Third Point LLC now owns 7,600,000 shares of the conglomerate’s stock valued at $950,228,000 after purchasing an additional 500,000 shares during the period. Boston Partners lifted its stake in shares of United Technologies by 25.0% in the 2nd quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock valued at $844,240,000 after purchasing an additional 1,349,539 shares during the period. Fisher Asset Management LLC lifted its stake in shares of United Technologies by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 4,086,665 shares of the conglomerate’s stock valued at $510,956,000 after purchasing an additional 150,259 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of United Technologies by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,490,898 shares of the conglomerate’s stock valued at $436,463,000 after purchasing an additional 402,311 shares during the period. 81.68% of the stock is currently owned by institutional investors.

UTX has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Robert W. Baird upped 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. 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. Finally, Wolfe Research initiated coverage on shares of United Technologies in a research report on Wednesday, June 27th. They issued an “outperform” rating for the company. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. United Technologies has an average rating of “Buy” and an average target price of $149.70.

UTX opened at $132.51 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.46 and a quick ratio of 1.10. United Technologies Co. has a 12 month low of $115.40 and a 12 month high of $144.15. The firm has a market capitalization of $111.86 billion, a P/E ratio of 19.93, a PEG ratio of 2.12 and a beta of 0.98.

United Technologies (NYSE:UTX) last released 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 business had revenue of $16.71 billion during the quarter, compared to analysts’ expectations of $16.26 billion. During the same quarter in the prior year, the company earned $1.85 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, November 15th. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio is 42.11%.

In other United Technologies news, VP Robert J. Bailey sold 828 shares of the stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total transaction of $111,573.00. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at approximately $269,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Charles D. Gill sold 14,255 shares of the stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $136.43, for a total value of $1,944,809.65. Following the transaction, the vice president now owns 55,029 shares of the company’s stock, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,511 shares of company stock valued at $2,521,974. Corporate insiders own 0.17% of the company’s stock.

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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