Bright Rock Capital Management LLC Sells 4,000 Shares of United Technologies Co. (UTX)

Bright Rock Capital Management LLC decreased its holdings in United Technologies Co. (NYSE:UTX) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,000 shares of the conglomerate’s stock after selling 4,000 shares during the quarter. Bright Rock Capital Management LLC’s holdings in United Technologies were worth $5,108,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Knowledge Leaders Capital LLC acquired a new position in United Technologies in the third quarter worth approximately $105,000. Tortoise Investment Management LLC grew its position in United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after buying an additional 48 shares during the last quarter. Seven Bridges Advisors LLC acquired a new position in United Technologies in the second quarter worth approximately $120,000. Winfield Associates Inc. grew its position in United Technologies by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after buying an additional 29 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in United Technologies in the second quarter worth approximately $131,000. Hedge funds and other institutional investors own 80.07% of the company’s stock.

United Technologies Co. (NYSE:UTX) opened at $131.57 on Friday. United Technologies Co. has a 52-week low of $106.85 and a 52-week high of $132.36. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The firm has a market cap of $105,070.00, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.26 and a beta of 1.07.

United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the previous year, the company posted $1.76 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. equities analysts anticipate that United Technologies Co. will post 6.61 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Friday, November 17th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Thursday, November 16th. United Technologies’s dividend payout ratio is currently 43.34%.

In other news, VP Robert J. Bailey sold 864 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $126.01, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the transaction, the executive vice president now owns 27,548 shares in the company, valued at $3,332,757.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,466 shares of company stock worth $2,019,274. 0.16% of the stock is currently owned by corporate insiders.

UTX has been the topic of several recent research reports. Royal Bank of Canada set a $126.00 price target on shares of United Technologies and gave the stock a “hold” rating in a research report on Sunday, November 12th. Cowen restated a “hold” rating and issued a $120.00 price target on shares of United Technologies in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Stifel Nicolaus lifted their price objective on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $125.63.

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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.

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

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