Madison Investment Holdings Inc. Buys 37,853 Shares of United Technologies Co. (UTX)
Madison Investment Holdings Inc. increased its stake in United Technologies Co. (NYSE:UTX) by 21.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,802 shares of the conglomerate’s stock after acquiring an additional 37,853 shares during the period. Madison Investment Holdings Inc.’s holdings in United Technologies were worth $25,050,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UTX. Bank of Nova Scotia Trust Co. bought a new stake in United Technologies in the third quarter worth about $178,000. Janus Henderson Group PLC lifted its stake in United Technologies by 63.7% in the third quarter. Janus Henderson Group PLC now owns 449,709 shares of the conglomerate’s stock worth $52,198,000 after purchasing an additional 175,058 shares during the last quarter. Vident Investment Advisory LLC bought a new stake in United Technologies in the third quarter worth about $512,000. Cornerstone Capital Management Holdings LLC. lifted its stake in United Technologies by 25.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 178,093 shares of the conglomerate’s stock worth $20,671,000 after purchasing an additional 36,446 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. lifted its stake in United Technologies by 0.7% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 664,133 shares of the conglomerate’s stock worth $77,093,000 after purchasing an additional 4,363 shares during the last quarter. Institutional investors own 80.01% of the company’s stock.
Several analysts have issued reports on the stock. Goldman Sachs Group raised shares of United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Cowen reissued a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a research note on Thursday, January 25th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $146.00 price objective (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $136.15.
Shares of United Technologies Co. (NYSE:UTX) opened at $127.24 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.35. United Technologies Co. has a 12 month low of $107.05 and a 12 month high of $139.24. The firm has a market cap of $101,610.00, a P/E ratio of 22.32, a PEG ratio of 2.29 and a beta of 1.08.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. The company had revenue of $15.68 billion during 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%. United Technologies’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.56 earnings per share. sell-side analysts expect that United Technologies Co. will post 7.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 16th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.20%. United Technologies’s dividend payout ratio (DPR) is 49.12%.
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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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