Chilton Capital Management LLC Sells 4,514 Shares of United Technologies Co. (UTX)
Chilton Capital Management LLC reduced its position in United Technologies Co. (NYSE:UTX) by 66.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,288 shares of the company’s stock after selling 4,514 shares during the period. Chilton Capital Management LLC’s holdings in United Technologies were worth $251,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in UTX. The Manufacturers Life Insurance Company bought a new position in shares of United Technologies during the third quarter worth approximately $374,918,000. Russell Investments Group Ltd. bought a new position in shares of United Technologies during the fourth quarter worth approximately $168,592,000. Asset Management One Co. Ltd. boosted its position in shares of United Technologies by 1,283.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,554,886 shares of the company’s stock worth $170,546,000 after buying an additional 1,442,524 shares during the period. Boston Partners boosted its position in shares of United Technologies by 26.0% in the third quarter. Boston Partners now owns 5,281,056 shares of the company’s stock worth $536,555,000 after buying an additional 1,088,456 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of United Technologies by 31.7% in the third quarter. Lazard Asset Management LLC now owns 4,038,736 shares of the company’s stock worth $410,335,000 after buying an additional 973,053 shares during the period. Institutional investors own 79.89% of the company’s stock.
United Technologies Co. (NYSE:UTX) opened at 113.51 on Tuesday. The stock’s 50 day moving average price is $111.56 and its 200 day moving average price is $107.26. The stock has a market capitalization of $91.47 billion, a PE ratio of 18.55 and a beta of 1.09. United Technologies Co. has a 1-year low of $96.89 and a 1-year high of $114.44.
United Technologies (NYSE:UTX) last announced its quarterly earnings results on Wednesday, January 25th. The company reported $1.56 EPS for the quarter, meeting analysts’ consensus estimates of $1.56. United Technologies had a return on equity of 18.13% and a net margin of 8.83%. The company earned $14.70 billion during the quarter, compared to analyst estimates of $14.70 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts predict that United Technologies Co. will post $6.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, February 15th. United Technologies’s payout ratio is presently 43.21%.
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A number of equities analysts have commented on UTX shares. Vetr cut United Technologies from a “buy” rating to a “hold” rating and set a $114.78 price target on the stock. in a research note on Tuesday, February 21st. Credit Suisse Group AG raised United Technologies from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $108.00 to $125.00 in a research note on Monday, December 19th. Barclays PLC lifted their price target on United Technologies from $111.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 26th. Argus cut United Technologies from a “buy” rating to a “hold” rating and lifted their price target for the stock from $110.96 to $115.00 in a research note on Thursday, January 26th. They noted that the move was a valuation call. Finally, Deutsche Bank AG lifted their price target on United Technologies from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Monday, December 5th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $115.70.
In related news, VP Robert J. Bailey sold 1,022 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $112.26, for a total transaction of $114,729.72. Following the completion of the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at $224,520. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Akhil Johri sold 2,209 shares of the stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $111.41, for a total value of $246,104.69. Following the transaction, the vice president now directly owns 19,100 shares of the company’s stock, valued at $2,127,931. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,497 shares of company stock valued at $4,982,862. 0.15% of the stock is owned by corporate 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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