Dorsey & Whitney Trust CO LLC increased its position in shares of United Technologies Co. (NYSE:UTX) by 21.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,943 shares of the conglomerate’s stock after buying an additional 1,387 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in United Technologies were worth $970,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of UTX. Tortoise Investment Management LLC lifted its position 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 acquiring an additional 48 shares in the last quarter. Seven Bridges Advisors LLC purchased a new stake in shares of United Technologies during the second quarter worth $120,000. Winfield Associates Inc. lifted its position in shares of United Technologies by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after acquiring an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of United Technologies in the second quarter worth $131,000. Finally, Alexandria Capital LLC raised its position in shares of United Technologies by 0.3% in the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after buying an additional 3 shares in the last quarter. 80.07% of the stock is currently owned by institutional investors and hedge funds.
United Technologies Co. (UTX) traded down $0.55 during trading hours on Friday, reaching $127.57. 1,806,180 shares of the company’s stock were exchanged, compared to its average volume of 3,007,393. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. United Technologies Co. has a fifty-two week low of $106.85 and a fifty-two week high of $128.49. The company has a market cap of $102,312.78, a P/E ratio of 19.78, a PEG ratio of 2.31 and a beta of 1.07.
The company also recently announced a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Friday, November 17th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, November 16th. United Technologies’s dividend payout ratio (DPR) is 43.41%.
A number of brokerages recently issued reports on UTX. Cowen reiterated a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research report on Tuesday, October 24th. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Stifel Nicolaus increased their target price on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $126.00 price objective on shares of United Technologies in a research note on Tuesday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. United Technologies has a consensus rating of “Hold” and an average price target of $125.63.
In other news, VP Akhil Johri sold 5,979 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $121.03, for a total transaction of $723,638.37. Following the sale, the vice president now directly owns 23,295 shares in the company, valued at approximately $2,819,393.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Bailey sold 864 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $126.01, for a total transaction of $108,872.64. Following the sale, the vice president now owns 2,000 shares in the company, valued at $252,020. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,466 shares of company stock worth $2,019,274. 0.16% of the stock is owned by corporate insiders.
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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