Farmers & Merchants Investments Inc. raised its stake in shares of United Technologies Co. (NYSE:UTX) by 10.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 49,195 shares of the conglomerate’s stock after purchasing an additional 4,747 shares during the period. Farmers & Merchants Investments Inc.’s holdings in United Technologies were worth $6,341,000 as of its most recent SEC filing.
Other hedge funds 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 4th quarter worth approximately $26,000. Braun Bostich & Associates Inc. raised its holdings in shares of United Technologies by 73.0% in the 4th quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 154 shares during the period. Massey Quick Simon & CO. LLC bought a new stake in shares of United Technologies in the 1st quarter worth approximately $47,000. Sageworth Trust Co bought a new stake in shares of United Technologies in the 1st quarter worth approximately $50,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of United Technologies in the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 80.67% of the company’s stock.
NYSE:UTX opened at $124.07 on Thursday. 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 Co. has a 12 month low of $100.48 and a 12 month high of $144.40. The company has a market capitalization of $113.95 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.88 and a beta of 1.26.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.735 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.37%. United Technologies’s payout ratio is 38.63%.
In other United Technologies news, VP Robert J. Bailey sold 1,418 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $126.20, for a total transaction of $178,951.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.
A number of equities research analysts recently commented on UTX shares. Seaport Global Securities started coverage on shares of United Technologies in a report on Friday, May 10th. They issued a “neutral” rating and a $136.86 price target on the stock. Barclays lifted their price target on shares of United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. started coverage on shares of United Technologies in a report on Friday, February 22nd. They issued an “overweight” rating and a $132.00 price target on the stock. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Monday. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $150.23.
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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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