Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of United Technologies Co. (NYSE:UTX) by 17.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 253,454 shares of the conglomerate’s stock after selling 54,133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United Technologies were worth $32,667,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of UTX. Headinvest LLC grew its stake in shares of United Technologies by 264.6% in the 4th quarter. Headinvest LLC now owns 48,202 shares of the conglomerate’s stock worth $5,133,000 after buying an additional 34,980 shares in the last quarter. Ingalls & Snyder LLC grew its stake in shares of United Technologies by 4.2% in the 1st quarter. Ingalls & Snyder LLC now owns 113,027 shares of the conglomerate’s stock worth $14,568,000 after buying an additional 4,504 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new position in shares of United Technologies in the 4th quarter worth $70,000. Drexel Morgan & Co. grew its stake in shares of United Technologies by 4.1% in the 4th quarter. Drexel Morgan & Co. now owns 12,530 shares of the conglomerate’s stock worth $1,334,000 after buying an additional 491 shares in the last quarter. Finally, Signet Investment Advisory Group Inc. purchased a new position in shares of United Technologies in the 4th quarter worth $403,000. 80.67% of the stock is owned by institutional investors.
Shares of UTX stock traded up $0.50 during trading hours on Friday, reaching $125.31. 1,418,676 shares of the stock were exchanged, compared to its average volume of 3,923,554. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 0.98. The stock has a market cap of $106.98 billion, a PE ratio of 16.47, a P/E/G ratio of 1.77 and a beta of 1.26.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid 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 dividend yield of 2.35%. United Technologies’s dividend payout ratio is presently 38.63%.
A number of brokerages have commented on UTX. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Friday. William Blair reissued a “hold” rating on shares of United Technologies in a research note on Monday. Seaport Global Securities raised shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a research note on Monday. Morgan Stanley lifted their price objective on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. United Technologies has a consensus rating of “Buy” and an average target price of $149.86.
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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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