Baird Financial Group Inc. grew its stake in shares of United Technologies Co. (NYSE:UTX) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 309,560 shares of the conglomerate’s stock after purchasing an additional 19,293 shares during the quarter. Baird Financial Group Inc.’s holdings in United Technologies were worth $43,619,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of UTX. Credit Agricole S A lifted its stake in shares of United Technologies by 101.4% during the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after purchasing an additional 436 shares in the last quarter. Fort L.P. acquired a new position in shares of United Technologies during the second quarter worth about $120,000. WP Advisors LLC acquired a new position in shares of United Technologies during the second quarter worth about $126,000. Psagot Investment House Ltd. acquired a new position in shares of United Technologies during the third quarter worth about $134,000. Finally, Adalta Capital Management LLC acquired a new position in shares of United Technologies during the second quarter worth about $163,000. Institutional investors own 82.16% of the company’s stock.
Shares of NYSE UTX opened at $121.84 on Friday. United Technologies Co. has a 1 year low of $115.40 and a 1 year high of $144.15. The stock has a market cap of $97.08 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.84 and a beta of 1.09. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.17 and a current ratio of 1.52.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be issued a $0.735 dividend. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, November 15th. United Technologies’s payout ratio is currently 44.21%.
A number of brokerages have commented on UTX. Robert W. Baird reduced their price objective on United Technologies from $167.00 to $149.00 and set an “outperform” rating on the stock in a research note on Wednesday. Bank of America set a $180.00 target price on United Technologies and gave the stock a “buy” rating in a research report on Tuesday, November 27th. UBS Group raised United Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group set a $148.00 target price on United Technologies and gave the stock a “buy” rating in a research report on Tuesday, November 27th. Finally, Wolfe Research set a $147.00 target price on United Technologies and gave the stock a “buy” rating in a research report on Monday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $151.58.
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United Technologies Company Profile
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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