OLD National Bancorp IN boosted its position in shares of United Technologies Co. (NYSE:UTX) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,350 shares of the conglomerate’s stock after buying an additional 2,226 shares during the quarter. OLD National Bancorp IN’s holdings in United Technologies were worth $3,871,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of UTX. Traynor Capital Management Inc. lifted its stake in shares of United Technologies by 12.4% in the 3rd quarter. Traynor Capital Management Inc. now owns 6,762 shares of the conglomerate’s stock valued at $783,000 after purchasing an additional 744 shares during the period. Lee Danner & Bass Inc. lifted its stake in shares of United Technologies by 6.6% in the 3rd quarter. Lee Danner & Bass Inc. now owns 96,000 shares of the conglomerate’s stock valued at $11,144,000 after purchasing an additional 5,929 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of United Technologies in the 3rd quarter valued at $8,873,000. Somerville Kurt F lifted its stake in shares of United Technologies by 2.5% in the 3rd quarter. Somerville Kurt F now owns 88,763 shares of the conglomerate’s stock valued at $10,303,000 after purchasing an additional 2,204 shares during the period. Finally, Puzo Michael J lifted its stake in shares of United Technologies by 4.5% in the 3rd quarter. Puzo Michael J now owns 35,824 shares of the conglomerate’s stock valued at $4,158,000 after purchasing an additional 1,540 shares during the period. 80.07% of the stock is currently owned by hedge funds and other institutional investors.
UTX has been the topic of a number of analyst reports. Bank of America reissued a “buy” rating and issued a $140.00 price target on shares of United Technologies in a research note on Wednesday, September 6th. Cowen reissued a “buy” rating and issued a $127.00 price target on shares of United Technologies in a research note on Tuesday, September 5th. Royal Bank of Canada reissued a “hold” rating and issued a $126.00 price target on shares of United Technologies in a research note on Tuesday, October 10th. Deutsche Bank cut their price target on United Technologies from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Wednesday, September 6th. Finally, Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. United Technologies presently has an average rating of “Hold” and an average target price of $125.63.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.76 EPS. analysts expect that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Friday, November 17th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, November 16th. United Technologies’s payout ratio is presently 43.41%.
In related news, VP Robert J. Bailey sold 827 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Robert J. Bailey sold 636 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $124.35, for a total value of $79,086.60. Following the sale, the vice president now directly owns 1,500 shares in the company, valued at approximately $186,525. 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 ninety days. 0.16% of the stock is currently owned by company insiders.
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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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