Buckingham Capital Management Inc. lowered its position in shares of United Technologies Corporation (NYSE:UTX) by 14.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,694 shares of the conglomerate’s stock after selling 1,670 shares during the quarter. Buckingham Capital Management Inc.’s holdings in United Technologies were worth $1,184,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC boosted its holdings in shares of United Technologies by 11,652.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock valued at $17,420,000 after buying an additional 2,109,056 shares during the last quarter. Flossbach Von Storch AG boosted its holdings in shares of United Technologies by 95.6% in the 2nd quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock valued at $197,453,000 after buying an additional 790,496 shares during the last quarter. Schroder Investment Management Group lifted its holdings in United Technologies by 1,606.6% during the 2nd quarter. Schroder Investment Management Group now owns 592,583 shares of the conglomerate’s stock valued at $72,088,000 after purchasing an additional 557,859 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in United Technologies by 288.1% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 588,005 shares of the conglomerate’s stock valued at $60,300,000 after purchasing an additional 436,509 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in United Technologies by 14.8% during the 2nd quarter. Fiera Capital Corp now owns 3,013,096 shares of the conglomerate’s stock valued at $367,929,000 after purchasing an additional 388,467 shares during the last quarter. 80.20% of the stock is owned by hedge funds and other institutional investors.
United Technologies Corporation (NYSE UTX) traded up $0.25 during mid-day trading on Wednesday, reaching $120.29. The company’s stock had a trading volume of 3,149,300 shares, compared to its average volume of 3,037,953. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The company has a market cap of $95,860.34, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.16 and a beta of 1.07. United Technologies Corporation has a 1 year low of $106.85 and a 1 year high of $124.79.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.33%. The ex-dividend date is Thursday, November 16th. United Technologies’s payout ratio is 43.41%.
UTX has been the subject of several research reports. Bank of America reaffirmed a “buy” rating and set a $140.00 price target on shares of United Technologies in a report on Wednesday, September 6th. Deutsche Bank cut their price target on United Technologies from $125.00 to $120.00 and set a “hold” rating for the company in a report on Wednesday, September 6th. Vertical Research downgraded United Technologies from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a report on Tuesday, September 5th. Cowen downgraded United Technologies from an “outperform” rating to a “market perform” rating and cut their price target for the company from $127.00 to $120.00 in a report on Wednesday, September 6th. Finally, Stifel Nicolaus raised their price target on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $125.15.
In other United Technologies 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now owns 27,548 shares in the company, valued at approximately $3,332,757.04. The disclosure for this sale can be found here. Insiders have sold a total of 9,792 shares of company stock worth $1,182,520 in the last quarter. Company insiders own 0.16% of the company’s stock.
United Technologies Company Profile
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.
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Corporation (NYSE:UTX).
What are top analysts saying about United Technologies Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for United Technologies Corporation and related companies.