Brooks Moore & Associates Inc. Takes $209,000 Position in United Technologies Co. (UTX)

Brooks Moore & Associates Inc. purchased a new position in United Technologies Co. (NYSE:UTX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,964 shares of the conglomerate’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in United Technologies by 30.6% during the 3rd quarter. Victory Capital Management Inc. now owns 143,163 shares of the conglomerate’s stock worth $20,016,000 after buying an additional 33,575 shares in the last quarter. AKO Capital LLP lifted its holdings in United Technologies by 22.3% during the 3rd quarter. AKO Capital LLP now owns 691,534 shares of the conglomerate’s stock worth $96,683,000 after buying an additional 126,314 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in United Technologies by 164.4% during the 3rd quarter. Gryphon Financial Partners LLC now owns 2,192 shares of the conglomerate’s stock worth $306,000 after buying an additional 1,363 shares in the last quarter. Sentry Investment Management LLC lifted its holdings in United Technologies by 2.3% during the 3rd quarter. Sentry Investment Management LLC now owns 50,843 shares of the conglomerate’s stock worth $7,108,000 after buying an additional 1,166 shares in the last quarter. Finally, Front Barnett Associates LLC lifted its stake in shares of United Technologies by 1.0% in the 3rd quarter. Front Barnett Associates LLC now owns 108,455 shares of the conglomerate’s stock valued at $15,163,000 after purchasing an additional 1,073 shares during the period. Hedge funds and other institutional investors own 80.09% of the company’s stock.

UTX stock opened at $126.89 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.81 and a current ratio of 1.13. The firm has a market capitalization of $109.13 billion, a PE ratio of 16.67, a P/E/G ratio of 1.79 and a beta of 1.20. United Technologies Co. has a twelve month low of $100.48 and a twelve month high of $144.15.

United Technologies (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 23rd. The conglomerate reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.42. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. The business had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $16.87 billion. During the same quarter in the prior year, the company earned $1.60 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts expect that United Technologies Co. will post 7.93 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 10th. Investors of record on Friday, February 15th were given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 14th. United Technologies’s dividend payout ratio is currently 38.63%.

In related news, CEO Robert Kelly Ortberg sold 16,587 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $126.59, for a total value of $2,099,748.33. Following the completion of the sale, the chief executive officer now owns 70,211 shares in the company, valued at approximately $8,888,010.49. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Gregory Hayes sold 35,942 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $123.81, for a total transaction of $4,449,979.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,352 shares of company stock valued at $11,974,093. 0.17% of the stock is owned by corporate insiders.

UTX has been the topic of a number of analyst reports. Bank of America set a $180.00 price target on United Technologies and gave the company a “buy” rating in a research note on Tuesday, November 27th. Jefferies Financial Group set a $148.00 price target on United Technologies and gave the company a “buy” rating in a research note on Tuesday, November 27th. Wolfe Research set a $147.00 price target on United Technologies and gave the company a “buy” rating in a research note on Monday, November 26th. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $149.00 price target on shares of United Technologies in a research note on Wednesday, January 23rd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $143.93.

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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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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