Flagship Harbor Advisors LLC Sells 121 Shares of United Technologies Co. (NYSE:UTX)

Flagship Harbor Advisors LLC lessened its stake in United Technologies Co. (NYSE:UTX) by 2.0% in the third quarter, HoldingsChannel reports. The firm owned 6,043 shares of the conglomerate’s stock after selling 121 shares during the period. Flagship Harbor Advisors LLC’s holdings in United Technologies were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Phocas Financial Corp. bought a new stake in United Technologies in the 2nd quarter worth approximately $25,000. Krane Funds Advisors LLC bought a new stake in United Technologies in the 2nd quarter worth approximately $26,000. Transamerica Financial Advisors Inc. bought a new stake in United Technologies in the 2nd quarter worth approximately $30,000. American National Bank bought a new stake in United Technologies in the 3rd quarter worth approximately $34,000. Finally, Financial Management Professionals Inc. grew its position in United Technologies by 3,600.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 259 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 252 shares during the period. 80.73% of the stock is owned by institutional investors and hedge funds.

UTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. William Blair reissued a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Sanford C. Bernstein boosted their price objective on shares of United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research report on Tuesday, September 17th. Barclays boosted their price objective on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Zacks Investment Research downgraded shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a research report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $154.81.

In related news, VP Charles D. Gill sold 33,763 shares of United Technologies stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $135.04, for a total transaction of $4,559,355.52. Following the transaction, the vice president now owns 112,458 shares in the company, valued at approximately $15,186,328.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth B. Amato sold 4,113 shares of United Technologies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $137.18, for a total transaction of $564,221.34. Following the transaction, the executive vice president now owns 31,501 shares in the company, valued at approximately $4,321,307.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,123 shares of company stock worth $13,787,015. 0.15% of the stock is owned by corporate insiders.

Shares of UTX traded up $0.56 during trading hours on Thursday, reaching $140.47. 10,924 shares of the stock traded hands, compared to its average volume of 2,818,332. The company has a current ratio of 1.06, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.40. The company’s 50-day moving average price is $135.42 and its two-hundred day moving average price is $132.79. The company has a market cap of $122.03 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 2.00 and a beta of 1.21.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.18. United Technologies had a net margin of 6.72% and a return on equity of 16.81%. The company had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.31 billion. During the same quarter in the previous year, the company earned $1.93 EPS. United Technologies’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, research analysts forecast that United Technologies Co. will post 8.05 EPS 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 paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 14th. United Technologies’s dividend payout ratio (DPR) is 38.63%.

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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