Curbstone Financial Management Corp Boosts Position in United Technologies Co. (UTX)
Curbstone Financial Management Corp increased its holdings in shares of United Technologies Co. (NYSE:UTX) by 95.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,824 shares of the conglomerate’s stock after acquiring an additional 9,687 shares during the period. Curbstone Financial Management Corp’s holdings in United Technologies were worth $2,301,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. PGGM Investments lifted its stake in shares of United Technologies by 52.4% in the second quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock worth $91,486,000 after buying an additional 257,582 shares in the last quarter. Connecticut Wealth Management LLC lifted its stake in shares of United Technologies by 10.1% in the second quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock worth $1,473,000 after buying an additional 1,098 shares in the last quarter. Huntington National Bank lifted its stake in shares of United Technologies by 3.7% in the second quarter. Huntington National Bank now owns 284,531 shares of the conglomerate’s stock worth $34,744,000 after buying an additional 10,025 shares in the last quarter. Pioneer Investment Management Inc. lifted its stake in shares of United Technologies by 2.1% in the first quarter. Pioneer Investment Management Inc. now owns 1,223,811 shares of the conglomerate’s stock worth $137,324,000 after buying an additional 25,625 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of United Technologies by 0.6% in the second quarter. Russell Investments Group Ltd. now owns 1,695,965 shares of the conglomerate’s stock worth $207,154,000 after buying an additional 9,664 shares in the last quarter. 80.20% of the stock is currently owned by institutional investors and hedge funds.
In other United Technologies news, VP Akhil Johri sold 5,979 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $121.03, for a total transaction of $723,638.37. Following the completion of the sale, the vice president now directly owns 23,295 shares of the company’s stock, valued at $2,819,393.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the sale, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,261 shares of company stock worth $1,363,783. 0.16% of the stock is owned by insiders.
Several research analysts have recently issued reports on UTX shares. Bank of America reiterated a “buy” rating and issued a $140.00 target price on shares of United Technologies in a research note on Wednesday, September 6th. Deutsche Bank dropped their target price on shares of United Technologies from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Wednesday, September 6th. Vertical Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, September 5th. Cowen downgraded shares of United Technologies from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $127.00 to $120.00 in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus upped their target price on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $125.63.
Shares of United Technologies Co. (UTX) traded up $2.41 during trading on Friday, reaching $126.17. 6,193,558 shares of the company were exchanged, compared to its average volume of 2,996,031. The company has a market capitalization of $98,831.02, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. United Technologies Co. has a 12 month low of $106.85 and a 12 month high of $126.44. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 earnings per share. equities research analysts predict that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Friday, November 17th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.22%. United Technologies’s dividend payout ratio (DPR) is 43.41%.
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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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