Meridian Management Co. Boosts Position in United Technologies Co. (NYSE:UTX)

Meridian Management Co. raised its stake in shares of United Technologies Co. (NYSE:UTX) by 0.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,163 shares of the conglomerate’s stock after buying an additional 108 shares during the quarter. Meridian Management Co.’s holdings in United Technologies were worth $1,660,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sound View Wealth Advisors Group LLC purchased a new position in United Technologies during the 2nd quarter valued at about $2,049,000. Great Valley Advisor Group Inc. boosted its position in shares of United Technologies by 276.0% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 11,743 shares of the conglomerate’s stock valued at $1,526,000 after acquiring an additional 8,620 shares during the last quarter. Farr Miller & Washington LLC DC boosted its position in shares of United Technologies by 0.5% during the 2nd quarter. Farr Miller & Washington LLC DC now owns 383,785 shares of the conglomerate’s stock valued at $49,969,000 after acquiring an additional 2,017 shares during the last quarter. BTR Capital Management Inc. boosted its position in shares of United Technologies by 1.6% during the 2nd quarter. BTR Capital Management Inc. now owns 87,006 shares of the conglomerate’s stock valued at $11,328,000 after acquiring an additional 1,398 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of United Technologies by 50.3% during the 2nd quarter. Captrust Financial Advisors now owns 58,174 shares of the conglomerate’s stock valued at $7,574,000 after acquiring an additional 19,474 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

NYSE:UTX traded down $0.14 during mid-day trading on Wednesday, reaching $148.25. The stock had a trading volume of 162,407 shares, compared to its average volume of 3,507,103. The firm has a 50 day moving average price of $139.45 and a two-hundred day moving average price of $133.79. The stock has a market capitalization of $128.52 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.08 and a beta of 1.22. United Technologies Co. has a one year low of $100.48 and a one year high of $149.35. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 1.06.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.18. The company had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. United Technologies’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 EPS. Research analysts forecast that United Technologies Co. will post 8.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.735 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.94 dividend on an annualized basis and a yield of 1.98%. United Technologies’s payout ratio is 38.63%.

In related news, VP Charles D. Gill sold 26,542 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $131.42, for a total value of $3,488,149.64. Following the completion of the sale, the vice president now owns 103,458 shares in the company, valued at approximately $13,596,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert J. Bailey sold 1,299 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $149.17, for a total value of $193,771.83. Following the completion of the sale, the vice president now owns 2,600 shares of the company’s stock, valued at approximately $387,842. The disclosure for this sale can be found here. Insiders sold a total of 185,306 shares of company stock valued at $25,914,056 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on UTX shares. William Blair reiterated a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Sanford C. Bernstein lifted their price target on United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research report on Tuesday, September 17th. Zacks Investment Research downgraded United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target for the company. in a research report on Friday, July 19th. Wolfe Research set a $152.00 price target on United Technologies and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America reiterated a “buy” rating and set a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $154.69.

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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