Stoneridge Investment Partners LLC Grows Position in United Technologies Co. (UTX)
Stoneridge Investment Partners LLC lifted its holdings in United Technologies Co. (NYSE:UTX) by 58.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 52,487 shares of the conglomerate’s stock after acquiring an additional 19,309 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in United Technologies were worth $6,093,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Alexandria Capital LLC grew its stake in United Technologies by 0.3% during the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after buying an additional 3 shares in the last quarter. Rowland & Co. Investment Counsel ADV grew its stake in United Technologies by 0.3% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock worth $143,000 after buying an additional 3 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in United Technologies by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock worth $218,000 after buying an additional 8 shares in the last quarter. Kissinger Financial Services LLC grew its stake in United Technologies by 0.5% during the second quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock worth $256,000 after buying an additional 11 shares in the last quarter. Finally, Vigilant Capital Management LLC grew its stake in United Technologies by 0.7% during the second quarter. Vigilant Capital Management LLC now owns 1,891 shares of the conglomerate’s stock worth $231,000 after buying an additional 14 shares in the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
A number of equities research analysts have issued reports on UTX shares. Zacks Investment Research downgraded shares of United Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Royal Bank of Canada upgraded shares of United Technologies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Cowen reiterated a “hold” rating and set a $120.00 price objective on shares of United Technologies in a research note on Friday, November 10th. Finally, Robert W. Baird upgraded shares of United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. United Technologies presently has an average rating of “Hold” and a consensus target price of $125.63.
In related news, VP Robert J. Bailey sold 864 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the transaction, the vice president now owns 2,000 shares in the company, valued at approximately $252,020. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the transaction, the executive vice president now owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,466 shares of company stock valued at $2,019,274. 0.16% of the stock is owned by company insiders.
Shares of United Technologies Co. (NYSE:UTX) opened at $131.57 on Monday. United Technologies Co. has a one year low of $106.85 and a one year high of $132.36. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The firm has a market cap of $105,070.00, a P/E ratio of 20.37, a PEG ratio of 2.29 and a beta of 1.07.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The company had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same period last year, the company posted $1.76 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. sell-side analysts anticipate that United Technologies Co. will post 6.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Investors of record on Friday, November 17th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.13%. United Technologies’s dividend payout ratio (DPR) is presently 43.34%.
TRADEMARK VIOLATION WARNING: “Stoneridge Investment Partners LLC Grows Position in United Technologies Co. (UTX)” was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The original version of this piece of content can be accessed at https://www.watchlistnews.com/stoneridge-investment-partners-llc-grows-position-in-united-technologies-co-utx/1798341.html.
United Technologies 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.
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with Analyst Ratings Network's FREE daily email newsletter.