Mercer Global Advisors Inc. ADV Takes $1.91 Million Position in United Technologies Co. (UTX)

Mercer Global Advisors Inc. ADV bought a new position in United Technologies Co. (NYSE:UTX) during the 1st quarter, HoldingsChannel.com reports. The fund bought 17,923 shares of the conglomerate’s stock, valued at approximately $1,908,000.

Other institutional investors have also recently added to or reduced their stakes in the company. WESPAC Advisors SoCal LLC purchased a new position in shares of United Technologies in the fourth quarter worth approximately $26,000. Guidant Wealth Advisors increased its position in shares of United Technologies by 64.9% in the fourth quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Braun Bostich & Associates Inc. increased its position in shares of United Technologies by 73.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock worth $39,000 after acquiring an additional 154 shares in the last quarter. Sageworth Trust Co purchased a new position in shares of United Technologies in the first quarter worth approximately $50,000. Finally, Canton Hathaway LLC increased its position in shares of United Technologies by 625.5% in the first quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock worth $51,000 after acquiring an additional 344 shares in the last quarter. 80.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of UTX opened at $133.98 on Thursday. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $144.40. The company has a market cap of $113.79 billion, a P/E ratio of 17.61, a P/E/G ratio of 1.88 and a beta of 1.23. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 0.98.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.20. The firm had revenue of $18.37 billion for the quarter, compared to the consensus estimate of $18.01 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The firm’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 earnings per share. On average, equities research analysts predict that United Technologies Co. will post 7.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, May 16th. United Technologies’s dividend payout ratio is 38.63%.

UTX has been the topic of several analyst reports. Goldman Sachs Group raised shares of United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 target price on the stock in a research report on Friday, February 1st. OTR Global downgraded shares of United Technologies to a “positive” rating in a research report on Friday, January 18th. Bank of America reaffirmed a “buy” rating and set a $185.00 price objective on shares of United Technologies in a research report on Thursday, January 24th. Royal Bank of Canada boosted their price objective on shares of United Technologies to $129.00 and gave the company a “sector perform” rating in a research report on Thursday, January 24th. Finally, Barclays boosted their price objective on shares of United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. United Technologies has an average rating of “Buy” and a consensus price target of $147.76.

In other United Technologies news, CEO Robert Kelly Ortberg sold 16,587 shares of the business’s stock in a transaction that occurred 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 directly owns 70,211 shares of the company’s stock, valued at $8,888,010.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 1,418 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $126.20, for a total transaction of $178,951.60. The disclosure for this sale can be found here. Insiders sold 28,415 shares of company stock valued at $3,614,625 over the last three months. Insiders own 0.15% of the company’s stock.

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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.

See Also: Compound Annual Growth Rate (CAGR)

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

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