United Technologies Corporation (UTX) Position Lifted by HighTower Advisors LLC
HighTower Advisors LLC boosted its holdings in shares of United Technologies Corporation (NYSE:UTX) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 287,114 shares of the conglomerate’s stock after buying an additional 6,726 shares during the period. HighTower Advisors LLC’s holdings in United Technologies were worth $35,036,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of UTX. PGGM Investments grew its stake in United Technologies by 52.4% in the second quarter. PGGM Investments now owns 749,206 shares of the conglomerate’s stock valued at $91,486,000 after purchasing an additional 257,582 shares in the last quarter. Connecticut Wealth Management LLC grew its stake in United Technologies by 10.1% in the second quarter. Connecticut Wealth Management LLC now owns 11,966 shares of the conglomerate’s stock valued at $1,473,000 after purchasing an additional 1,098 shares in the last quarter. Huntington National Bank grew its stake in United Technologies by 3.7% in the second quarter. Huntington National Bank now owns 284,531 shares of the conglomerate’s stock valued at $34,744,000 after purchasing an additional 10,025 shares in the last quarter. Pioneer Investment Management Inc. grew its stake in United Technologies by 2.1% in the first quarter. Pioneer Investment Management Inc. now owns 1,223,811 shares of the conglomerate’s stock valued at $137,324,000 after purchasing an additional 25,625 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in United Technologies by 0.6% in the second quarter. Russell Investments Group Ltd. now owns 1,695,965 shares of the conglomerate’s stock valued at $207,154,000 after purchasing an additional 9,664 shares in the last quarter. 80.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of United Technologies Corporation (NYSE UTX) traded up $0.41 during trading hours on Monday, reaching $122.81. The company had a trading volume of 2,999,600 shares, compared to its average volume of 3,038,381. United Technologies Corporation has a 1 year low of $106.85 and a 1 year high of $124.79. The company has a market cap of $98,072.38, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31.
The firm 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. The ex-dividend date was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.28%. United Technologies’s payout ratio is 43.41%.
Several analysts have recently issued reports on the company. Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Cowen reiterated a “hold” rating and set a $120.00 price target on shares of United Technologies in a research note on Tuesday, October 24th. Vertical Research downgraded United Technologies from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Tuesday, September 5th. Royal Bank Of Canada reiterated a “hold” rating and set a $125.00 price target on shares of United Technologies in a research note on Sunday, August 13th. Finally, Stifel Nicolaus upped their price target on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $125.63.
In related news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares in the company, valued at approximately $3,332,757.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Akhil Johri sold 5,979 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the sale, the vice president now owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,792 shares of company stock valued at $1,182,520. 0.16% of the stock is owned by corporate insiders.
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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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