Sterling Capital Management LLC Lowers Stake in United Technologies Co. (UTX)

Sterling Capital Management LLC cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,545 shares of the conglomerate’s stock after selling 526 shares during the period. Sterling Capital Management LLC’s holdings in United Technologies were worth $9,814,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in UTX. Knowledge Leaders Capital LLC acquired a new stake in shares of United Technologies during the third quarter worth $105,000. Tortoise Investment Management LLC lifted its holdings in shares of United Technologies by 5.3% during the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares during the period. Seven Bridges Advisors LLC acquired a new stake in shares of United Technologies during the second quarter worth $120,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of United Technologies during the second quarter worth $131,000. Finally, Thompson Davis & CO. Inc. lifted its holdings in shares of United Technologies by 750.4% during the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after purchasing an additional 953 shares during the period. Institutional investors and hedge funds own 80.01% of the company’s stock.

In other 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 value of $97,635.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Akhil Johri sold 5,979 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the completion of the transaction, the vice president now owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,480 shares of company stock valued at $1,658,028. Company insiders own 0.16% of the company’s stock.

Several equities research analysts recently weighed in on the company. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Cowen reaffirmed a “hold” rating and set a $141.00 price target on shares of United Technologies in a report on Thursday, January 25th. Stifel Nicolaus reaffirmed a “hold” rating and set a $146.00 price target (up from $124.00) on shares of United Technologies in a report on Thursday, January 25th. Sanford C. Bernstein reaffirmed a “positive” rating and set a $153.00 price target (up from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Finally, Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. United Technologies has a consensus rating of “Buy” and an average price target of $136.15.

United Technologies Co. (NYSE:UTX) opened at $131.97 on Thursday. United Technologies Co. has a 52-week low of $107.05 and a 52-week high of $139.24. The firm has a market capitalization of $105,390.00, a price-to-earnings ratio of 23.15, a PEG ratio of 2.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.35 and a quick ratio of 0.94.

United Technologies (NYSE:UTX) last announced its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The business had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter last year, the business posted $1.56 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. sell-side analysts forecast that United Technologies Co. will post 7.01 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 16th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, February 15th. United Technologies’s dividend payout ratio is currently 49.12%.

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

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