Hartford Investment Management Co. trimmed its stake in United Technologies Co. (NYSE:UTX) by 2.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 101,397 shares of the conglomerate’s stock after selling 2,634 shares during the period. Hartford Investment Management Co.’s holdings in United Technologies were worth $14,176,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in UTX. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of United Technologies in the 2nd quarter valued at approximately $341,297,000. Boston Partners grew 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 purchasing an additional 1,349,539 shares in the last quarter. Epoch Investment Partners Inc. grew 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 purchasing an additional 1,104,849 shares in the last quarter. Mainstay Capital Management LLC ADV grew 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 purchasing an additional 976,562 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of United Technologies by 2.7% in the second quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock valued at $3,308,428,000 after purchasing an additional 707,417 shares in the last quarter. 82.16% of the stock is currently owned by institutional investors and hedge funds.
NYSE UTX opened at $125.71 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. United Technologies Co. has a 52 week low of $115.40 and a 52 week high of $144.15. The company has a market cap of $100.92 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.98 and a beta of 1.09.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, November 15th. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s payout ratio is 44.21%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Robert W. Baird lifted their price objective on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, September 20th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. UBS Group assumed coverage on shares of United Technologies in a report on Wednesday, August 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada dropped their price objective on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $151.90.
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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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