United Technologies Co. (UTX) Position Raised by Foundry Partners LLC
Foundry Partners LLC increased its position in shares of United Technologies Co. (NYSE:UTX) by 18.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,919 shares of the conglomerate’s stock after purchasing an additional 10,829 shares during the period. Foundry Partners LLC’s holdings in United Technologies were worth $9,636,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in UTX. Charles Schwab Investment Advisory Inc. bought a new position in shares of United Technologies in the second quarter valued at $341,297,000. Boston Partners increased its holdings in shares of United Technologies by 25.0% in the second quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock valued at $844,240,000 after buying an additional 1,349,539 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of United Technologies by 597.6% in the second quarter. Epoch Investment Partners Inc. now owns 1,289,716 shares of the conglomerate’s stock valued at $161,253,000 after buying an additional 1,104,849 shares in the last quarter. Mainstay Capital Management LLC ADV increased its holdings in shares of United Technologies by 5,810.8% in the second quarter. Mainstay Capital Management LLC ADV now owns 993,368 shares of the conglomerate’s stock valued at $8,864,000 after buying an additional 976,562 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of United Technologies in the second quarter valued at $113,560,000. 81.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:UTX opened at $128.94 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. United Technologies Co. has a 12-month low of $115.40 and a 12-month high of $144.15. The firm has a market cap of $111.86 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.12 and a beta of 0.98.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.735 per share. This is an increase from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, November 15th. United Technologies’s payout ratio is 42.11%.
In other United Technologies news, VP Charles D. Gill sold 14,255 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 55,029 shares of the company’s stock, valued at approximately $7,507,606.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akhil Johri sold 3,428 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total transaction of $465,590.96. Following the sale, the chief financial officer now directly owns 43,403 shares in the company, valued at $5,894,995.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,511 shares of company stock worth $2,521,974. Company insiders own 0.17% of the company’s stock.
Several research analysts have issued reports on UTX shares. Wolfe Research started coverage on United Technologies in a report on Wednesday, June 27th. They issued an “outperform” rating on the stock. Jefferies Financial Group set a $157.00 price target on United Technologies and gave the company a “buy” rating in a report on Tuesday, July 10th. Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Finally, UBS Group started coverage on United Technologies in a report on Wednesday, August 15th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. United Technologies currently has an average rating of “Buy” and a consensus target price of $149.70.
United Technologies 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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