Parametric Portfolio Associates LLC Purchases 44,123 Shares of United Technologies Co. (UTX)
Parametric Portfolio Associates LLC grew its stake in shares of United Technologies Co. (NYSE:UTX) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,224,741 shares of the conglomerate’s stock after buying an additional 44,123 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in United Technologies were worth $258,248,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Knowledge Leaders Capital LLC bought a new stake in shares of United Technologies during the 3rd quarter worth about $105,000. Tortoise Investment Management LLC raised its position in shares of United Technologies by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after buying an additional 48 shares in the last quarter. Seven Bridges Advisors LLC bought a new stake in shares of United Technologies during the 2nd quarter worth about $120,000. Wealthcare Advisory Partners LLC bought a new stake in shares of United Technologies during the 3rd quarter worth about $118,000. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of United Technologies during the 2nd quarter worth about $131,000. Institutional investors own 80.01% of the company’s stock.
A number of research firms have commented on UTX. Goldman Sachs Group upgraded shares of United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Cowen restated a “hold” rating and set a $141.00 price target on shares of United Technologies in a research report on Thursday, January 25th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $146.00 target price (up from $124.00) on shares of United Technologies in a report on Thursday, January 25th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $136.15.
United Technologies (NYSE:UTX) last released its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.04. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $15.34 billion. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $1.56 earnings per share. analysts predict that United Technologies Co. will post 7.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 16th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is currently 49.12%.
In other news, VP Robert J. Bailey sold 636 shares of United Technologies stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $124.35, for a total value of $79,086.60. Following the transaction, the vice president now directly owns 1,500 shares of the company’s stock, valued at $186,525. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 864 shares of United Technologies stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $126.01, for a total transaction of $108,872.64. Following the completion of the transaction, the vice president now directly owns 2,000 shares in the company, valued at $252,020. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,480 shares of company stock worth $1,658,028. 0.16% of the stock is currently owned by insiders.
United Technologies Company Profile
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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