Pennsylvania Trust Co lifted its position in United Technologies Co. (NYSE:UTX) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,149 shares of the conglomerate’s stock after acquiring an additional 2,058 shares during the quarter. Pennsylvania Trust Co’s holdings in United Technologies were worth $14,699,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Nachman Norwood & Parrott Inc grew its position in shares of United Technologies by 0.9% in the 4th quarter. Nachman Norwood & Parrott Inc now owns 9,275 shares of the conglomerate’s stock worth $1,389,000 after acquiring an additional 85 shares in the last quarter. Neville Rodie & Shaw Inc. grew its position in shares of United Technologies by 3.4% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 78,640 shares of the conglomerate’s stock worth $11,777,000 after acquiring an additional 2,604 shares in the last quarter. Burke & Herbert Bank & Trust Co. grew its position in shares of United Technologies by 18.3% in the 4th quarter. Burke & Herbert Bank & Trust Co. now owns 6,458 shares of the conglomerate’s stock worth $967,000 after acquiring an additional 997 shares in the last quarter. Carroll Financial Associates Inc. grew its position in shares of United Technologies by 17.7% in the 4th quarter. Carroll Financial Associates Inc. now owns 16,112 shares of the conglomerate’s stock worth $2,413,000 after acquiring an additional 2,428 shares in the last quarter. Finally, Accurate Investment Solutions Inc. acquired a new position in shares of United Technologies in the 4th quarter worth approximately $30,000. Institutional investors own 80.88% of the company’s stock.
NYSE:UTX traded up $0.23 during midday trading on Wednesday, reaching $153.42. 2,374,122 shares of the company traded hands, compared to its average volume of 2,729,826. The company has a fifty day moving average price of $148.96 and a 200 day moving average price of $138.37. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.75. The firm has a market capitalization of $132.67 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.00 and a beta of 1.22. United Technologies Co. has a twelve month low of $108.54 and a twelve month high of $154.65.
United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.18. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 EPS. On average, equities research analysts forecast that United Technologies Co. will post 8.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, November 14th. United Technologies’s payout ratio is currently 38.63%.
Several brokerages have recently commented on UTX. Credit Suisse Group set a $162.00 target price on United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Sanford C. Bernstein boosted their price objective on United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research report on Tuesday, September 17th. Cowen boosted their price objective on United Technologies from $150.00 to $169.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, upgraded United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, November 28th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $160.08.
In other United Technologies news, CEO Gregory Hayes sold 27,987 shares of United Technologies stock in a transaction on Monday, November 4th. The stock was sold at an average price of $147.79, for a total transaction of $4,136,198.73. Following the sale, the chief executive officer now owns 287,649 shares of the company’s stock, valued at approximately $42,511,645.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Charles D. Gill sold 7,468 shares of United Technologies stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $142.19, for a total value of $1,061,874.92. Following the sale, the vice president now directly owns 55,208 shares in the company, valued at approximately $7,850,025.52. The disclosure for this sale can be found here. Insiders have sold a total of 90,810 shares of company stock worth $13,277,336 in the last ninety days. 0.15% of the stock is owned by company insiders.
About United Technologies
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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