Burgundy Asset Management Ltd. Purchases 10,893 Shares of United Technologies Co. (UTX)

Burgundy Asset Management Ltd. increased its position in shares of United Technologies Co. (NYSE:UTX) by 0.3% in the third quarter, HoldingsChannel reports. The firm owned 3,455,766 shares of the conglomerate’s stock after purchasing an additional 10,893 shares during the period. United Technologies makes up approximately 3.8% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 4th biggest holding. Burgundy Asset Management Ltd.’s holdings in United Technologies were worth $401,145,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its holdings in United Technologies by 13.2% during the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after acquiring an additional 2,401,795 shares during the last quarter. Stifel Financial Corp grew its holdings in United Technologies by 14,827.8% during the 3rd quarter. Stifel Financial Corp now owns 1,079,875 shares of the conglomerate’s stock worth $125,442,000 after acquiring an additional 1,072,641 shares during the last quarter. Vanguard Group Inc. grew its holdings in United Technologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after acquiring an additional 848,623 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in United Technologies by 50.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock worth $274,067,000 after acquiring an additional 756,600 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in United Technologies by 325.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 880,900 shares of the conglomerate’s stock worth $107,567,000 after acquiring an additional 673,800 shares during the last quarter. 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 dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Akhil Johri sold 5,979 shares of United Technologies stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $121.03, for a total transaction of $723,638.37. Following the transaction, the vice president now directly owns 23,295 shares in the company, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. Insiders sold a total of 13,480 shares of company stock worth $1,658,028 in the last ninety days. Insiders own 0.16% of the company’s stock.

A number of equities research analysts have commented on UTX shares. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Sanford C. Bernstein reissued a “positive” rating and set a $153.00 price objective (up previously from $135.00) on shares of United Technologies in a report on Tuesday, January 30th. Royal Bank of Canada set a $126.00 price objective on shares of United Technologies and gave the stock a “hold” rating in a report on Sunday, November 12th. Finally, Cowen reissued a “hold” rating and set a $120.00 price objective on shares of United Technologies in a report on Tuesday, October 24th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $136.15.

United Technologies Co. (NYSE:UTX) opened at $125.03 on Friday. The stock has a market cap of $99,850.00, a PE ratio of 21.94, a PEG ratio of 2.17 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 Co. has a one year low of $107.05 and a one year high of $139.24.

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

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 16th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 49.12%.

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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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