GWM Advisors LLC lowered its stake in shares of United Technologies Co. (NYSE:UTX) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,019 shares of the conglomerate’s stock after selling 1,836 shares during the quarter. GWM Advisors LLC’s holdings in United Technologies were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of UTX. Reilly Financial Advisors LLC boosted its holdings in United Technologies by 1.4% in the fourth quarter. Reilly Financial Advisors LLC now owns 85,784 shares of the conglomerate’s stock worth $9,134,000 after acquiring an additional 1,150 shares in the last quarter. Pillar Pacific Capital Management LLC boosted its holdings in United Technologies by 0.8% in the fourth quarter. Pillar Pacific Capital Management LLC now owns 51,251 shares of the conglomerate’s stock worth $5,457,000 after acquiring an additional 415 shares in the last quarter. Iberiabank Corp boosted its holdings in United Technologies by 0.4% in the fourth quarter. Iberiabank Corp now owns 37,587 shares of the conglomerate’s stock worth $4,002,000 after acquiring an additional 156 shares in the last quarter. Ackerman Capital Advisors LLC acquired a new stake in United Technologies in the fourth quarter worth about $274,000. Finally, New Mexico Educational Retirement Board boosted its holdings in United Technologies by 4.4% in the fourth quarter. New Mexico Educational Retirement Board now owns 69,267 shares of the conglomerate’s stock worth $7,376,000 after acquiring an additional 2,941 shares in the last quarter. 83.48% of the stock is currently owned by institutional investors.
Shares of NYSE:UTX opened at $123.98 on Wednesday. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.15. The stock has a market capitalization of $105.56 billion, a PE ratio of 16.29, a PEG ratio of 1.76 and a beta of 1.17. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.13 and a quick ratio of 0.81.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 10th. Stockholders of record on Friday, February 15th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, February 14th. United Technologies’s payout ratio is 38.63%.
Several equities research analysts have weighed in on UTX shares. Barclays lowered their price target on United Technologies from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, January 11th. Citigroup reissued a “neutral” rating and issued a $120.00 price target (down previously from $125.00) on shares of United Technologies in a report on Thursday, January 3rd. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Jefferies Financial Group set a $148.00 price target on United Technologies and gave the stock a “buy” rating in a report on Tuesday, November 27th. Finally, ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Friday, November 23rd. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $144.85.
In related news, VP Robert J. Bailey sold 862 shares of United Technologies stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $121.71, for a total transaction of $104,914.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael R. Dumais sold 9,620 shares of United Technologies stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total value of $1,145,934.40. Following the transaction, the executive vice president now owns 35,627 shares of the company’s stock, valued at $4,243,888.24. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
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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