United Technologies Co. (UTX) Stake Lessened by Glen Harbor Capital Management LLC

Glen Harbor Capital Management LLC decreased its holdings in United Technologies Co. (NYSE:UTX) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,560 shares of the conglomerate’s stock after selling 1,776 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in United Technologies were worth $10,388,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of United Technologies by 1.8% in the fourth quarter. BlackRock Inc. now owns 46,850,302 shares of the conglomerate’s stock worth $5,976,695,000 after purchasing an additional 822,595 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of United Technologies by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 7,665,846 shares of the conglomerate’s stock worth $975,815,000 after purchasing an additional 139,345 shares in the last quarter. Viking Global Investors LP grew its stake in shares of United Technologies by 42.7% in the fourth quarter. Viking Global Investors LP now owns 5,963,163 shares of the conglomerate’s stock worth $760,721,000 after purchasing an additional 1,784,355 shares in the last quarter. Boston Partners grew its stake in shares of United Technologies by 1.0% in the first quarter. Boston Partners now owns 5,402,756 shares of the conglomerate’s stock worth $679,775,000 after purchasing an additional 54,027 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of United Technologies by 2.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,753,925 shares of the conglomerate’s stock worth $606,459,000 after purchasing an additional 122,413 shares in the last quarter. 82.20% of the stock is owned by institutional investors.

In other news, VP Robert J. Bailey sold 2,032 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $134.95, for a total transaction of $274,218.40. Following the completion of the sale, the vice president now directly owns 4,900 shares of the company’s stock, valued at $661,255. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Elizabeth B. Amato sold 6,557 shares of the company’s stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $123.86, for a total value of $812,150.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,318 shares of company stock valued at $4,418,156. 0.17% of the stock is currently owned by company insiders.



Several research analysts have recently issued reports on the company. Zacks Investment Research cut United Technologies from a “hold” rating to a “sell” rating in a research note on Friday, April 13th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus restated a “hold” rating and issued a $139.00 price objective on shares of United Technologies in a report on Friday, February 16th. UBS set a $155.00 price objective on United Technologies and gave the company a “buy” rating in a report on Thursday, March 15th. Finally, Argus upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. United Technologies presently has an average rating of “Buy” and an average price target of $137.64.

Shares of United Technologies opened at $127.03 on Friday, according to Marketbeat.com. United Technologies Co. has a 12 month low of $109.10 and a 12 month high of $139.24. The firm has a market cap of $102.07 billion, a PE ratio of 19.10, a P/E/G ratio of 1.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.32 and a quick ratio of 0.96.

United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, April 24th. The conglomerate reported $1.77 EPS for the quarter, beating the consensus estimate of $1.51 by $0.26. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The business had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $14.62 billion. During the same period in the prior year, the business posted $1.48 earnings per share. United Technologies’s revenue was up 10.3% compared to the same quarter last year. research analysts anticipate that United Technologies Co. will post 7.13 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Friday, May 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, May 17th. United Technologies’s dividend payout ratio is 42.11%.

United Technologies Company 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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