CHICAGO TRUST Co NA Decreases Stake in United Technologies Co. (UTX)
CHICAGO TRUST Co NA lessened its position in United Technologies Co. (NYSE:UTX) by 24.2% during the 4th quarter, HoldingsChannel reports. The fund owned 4,017 shares of the conglomerate’s stock after selling 1,282 shares during the quarter. CHICAGO TRUST Co NA’s holdings in United Technologies were worth $513,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Beach Investment Management LLC. acquired a new stake in shares of United Technologies in the second quarter valued at approximately $434,000. Stoneridge Investment Partners LLC increased its holdings in shares of United Technologies by 755.1% in the second quarter. Stoneridge Investment Partners LLC now owns 33,178 shares of the conglomerate’s stock valued at $4,051,000 after purchasing an additional 29,298 shares during the last quarter. Morse Asset Management Inc increased its holdings in shares of United Technologies by 106.9% in the second quarter. Morse Asset Management Inc now owns 14,225 shares of the conglomerate’s stock valued at $1,737,000 after purchasing an additional 7,350 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of United Technologies by 136.2% in the second quarter. Canada Pension Plan Investment Board now owns 340,295 shares of the conglomerate’s stock valued at $41,553,000 after purchasing an additional 196,200 shares during the last quarter. Finally, Connecticut Wealth Management LLC increased its holdings 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 valued at $1,473,000 after purchasing an additional 1,098 shares during the last quarter. Institutional investors and hedge funds own 79.87% of the company’s stock.
In other news, VP Robert J. Bailey sold 636 shares of United Technologies stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $124.35, for a total value of $79,086.60. Following the completion of the sale, the vice president now directly owns 1,500 shares of the company’s stock, valued at $186,525. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Akhil Johri sold 5,979 shares of United Technologies stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold 13,480 shares of company stock valued at $1,658,028 over the last ninety days. Insiders own 0.16% of the company’s stock.
United Technologies (NYSE:UTX) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. equities analysts expect that United Technologies Co. will post 7.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 16th will be paid a $0.70 dividend. The ex-dividend date is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.17%. United Technologies’s payout ratio is presently 42.68%.
Several research firms recently commented on UTX. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $146.00 price target (up previously from $124.00) on shares of United Technologies in a report on Thursday, January 25th. Cowen reaffirmed a “hold” rating and issued a $141.00 price target on shares of United Technologies in a report on Thursday, January 25th. UBS Group began coverage on United Technologies in a report on Tuesday, January 23rd. They issued a “buy” rating and a $158.00 price target for the company. Finally, Goldman Sachs Group raised United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. United Technologies has a consensus rating of “Buy” and an average price target of $137.07.
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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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