United Technologies Co. (UTX) Shares Sold by Stearns Financial Services Group

Stearns Financial Services Group cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 14.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,508 shares of the conglomerate’s stock after selling 4,297 shares during the quarter. United Technologies makes up 0.7% of Stearns Financial Services Group’s investment portfolio, making the stock its 23rd largest holding. Stearns Financial Services Group’s holdings in United Technologies were worth $2,845,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Tortoise Investment Management LLC grew its stake 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 worth $117,000 after acquiring an additional 48 shares during the period. Seven Bridges Advisors LLC bought a new position in shares of United Technologies during the 2nd quarter worth $120,000. Winfield Associates Inc. grew its stake 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 worth $126,000 after acquiring an additional 29 shares during the period. Shine Investment Advisory Services Inc. bought a new position in shares of United Technologies during the 2nd quarter worth $131,000. Finally, Alexandria Capital LLC grew its stake in shares of United Technologies by 0.3% during the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after acquiring an additional 3 shares during the period. 80.20% of the stock is owned by hedge funds and other institutional investors.

In other United Technologies news, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 827 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,466 shares of company stock valued at $2,019,274. 0.16% of the stock is owned by corporate insiders.

UTX has been the subject of several research reports. Jefferies Group reiterated a “buy” rating and set a $139.00 price target on shares of United Technologies in a research note on Tuesday, August 29th. Credit Suisse Group reiterated a “neutral” rating on shares of United Technologies in a research note on Friday, September 1st. 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 research note on Tuesday, September 5th. Cowen reiterated a “buy” rating and set a $127.00 price target on shares of United Technologies in a research note on Tuesday, September 5th. Finally, Bank of America reiterated a “buy” rating and set a $140.00 price target on shares of United Technologies in a research note on Wednesday, September 6th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $125.63.

United Technologies Co. (NYSE UTX) opened at $126.71 on Tuesday. United Technologies Co. has a 12 month low of $106.85 and a 12 month high of $127.54. 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 capitalization of $100,755.58, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.27 and a beta of 1.07.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter last year, the company earned $1.76 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. equities analysts expect that United Technologies Co. will post 6.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were paid a $0.70 dividend. The ex-dividend date was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.21%. United Technologies’s dividend payout ratio is currently 43.41%.

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United Technologies 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.

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

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