United Technologies Co. (UTX) Holdings Raised by Grassi Investment Management

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Grassi Investment Management boosted its position in shares of United Technologies Co. (NYSE:UTX) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,216 shares of the conglomerate’s stock after acquiring an additional 876 shares during the period. Grassi Investment Management’s holdings in United Technologies were worth $7,999,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sun Life Financial INC raised its position in shares of United Technologies by 546.5% during the second quarter. Sun Life Financial INC now owns 6,265 shares of the conglomerate’s stock valued at $784,000 after buying an additional 5,296 shares during the last quarter. Pennsylvania Trust Co raised its position in shares of United Technologies by 0.4% during the third quarter. Pennsylvania Trust Co now owns 103,636 shares of the conglomerate’s stock valued at $14,489,000 after buying an additional 410 shares during the last quarter. Martin Investment Management LLC raised its position in shares of United Technologies by 2.3% during the second quarter. Martin Investment Management LLC now owns 89,070 shares of the conglomerate’s stock valued at $11,136,000 after buying an additional 1,988 shares during the last quarter. Lcnb Corp raised its position in shares of United Technologies by 13.2% during the second quarter. Lcnb Corp now owns 8,185 shares of the conglomerate’s stock valued at $1,023,000 after buying an additional 955 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of United Technologies by 189.6% during the second quarter. Victory Capital Management Inc. now owns 109,588 shares of the conglomerate’s stock valued at $13,701,000 after buying an additional 71,753 shares during the last quarter. Institutional investors own 81.68% of the company’s stock.

In related news, VP Charles D. Gill sold 14,255 shares of the firm’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total value of $1,944,809.65. Following the completion of the transaction, the vice president now directly owns 55,029 shares of the company’s stock, valued at $7,507,606.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Akhil Johri sold 3,428 shares of the firm’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total transaction of $465,590.96. Following the completion of the transaction, the chief financial officer now directly owns 43,403 shares of the company’s stock, valued at $5,894,995.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,511 shares of company stock valued at $2,521,974. 0.17% of the stock is currently owned by insiders.

UTX stock opened at $129.63 on Friday. United Technologies Co. has a fifty-two week low of $115.40 and a fifty-two week high of $144.15. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $111.86 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.12 and a beta of 0.98.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The firm had revenue of $16.71 billion during the quarter, compared to analyst estimates of $16.26 billion. During the same period last year, the firm posted $1.85 earnings per share. United Technologies’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts predict that United Technologies Co. will post 7.23 earnings per share for the current year.

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.27%. United Technologies’s dividend payout ratio (DPR) is 42.11%.

Several research firms have recently issued reports on UTX. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Friday. Robert W. Baird lifted their price objective on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, September 20th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. UBS Group began coverage on shares of United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research report on Tuesday, July 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $149.70.

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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