Mawer Investment Management Ltd. Sells 23,383 Shares of United Technologies Co. (UTX)
Mawer Investment Management Ltd. decreased its position in United Technologies Co. (NYSE:UTX) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 933,138 shares of the conglomerate’s stock after selling 23,383 shares during the period. Mawer Investment Management Ltd.’s holdings in United Technologies were worth $116,657,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. HC Financial Advisors Inc. purchased a new stake in United Technologies in the 4th quarter worth about $1,559,000. Global X Management Co. LLC raised its position in United Technologies by 12.4% in the 1st quarter. Global X Management Co. LLC now owns 7,326 shares of the conglomerate’s stock worth $922,000 after purchasing an additional 808 shares during the period. FDx Advisors Inc. raised its position in United Technologies by 5.8% in the 1st quarter. FDx Advisors Inc. now owns 20,041 shares of the conglomerate’s stock worth $2,522,000 after purchasing an additional 1,099 shares during the period. Daiwa Securities Group Inc. raised its position in United Technologies by 10.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 63,924 shares of the conglomerate’s stock worth $8,042,000 after purchasing an additional 5,852 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in United Technologies by 149.7% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 88,820 shares of the conglomerate’s stock worth $11,007,000 after purchasing an additional 53,244 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.
Shares of UTX stock opened at $132.59 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.10 and a current ratio of 1.46. The stock has a market capitalization of $107.61 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 2.04 and a beta of 1.05. United Technologies Co. has a one year low of $109.10 and a one year high of $139.24.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 17th will be paid a $0.70 dividend. The ex-dividend date is Thursday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.11%. United Technologies’s dividend payout ratio is currently 42.11%.
In other news, VP Charles D. Gill sold 14,255 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total transaction of $1,944,809.65. Following the transaction, the vice president now directly owns 55,029 shares in the company, valued at $7,507,606.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert J. Bailey sold 828 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total transaction of $111,573.00. Following the transaction, the vice president now owns 2,000 shares in the company, valued at $269,500. The disclosure for this sale can be found here. Insiders sold a total of 18,511 shares of company stock worth $2,521,974 over the last 90 days. Insiders own 0.17% of the company’s stock.
A number of analysts recently weighed in on UTX shares. Morgan Stanley started coverage on shares of United Technologies in a research report on Friday, June 15th. They issued an “overweight” rating and a $160.00 price objective on the stock. Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Daiwa Capital Markets raised shares of United Technologies from a “hold” rating to an “outperform” rating in a research report on Tuesday, May 8th. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Finally, Wolfe Research started coverage on shares of United Technologies in a research report on Wednesday, June 27th. They issued an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $142.17.
United Technologies Company Profile
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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