United Technologies Co. (NYSE:UTX) Shares Sold by Farmers Trust Co.

Farmers Trust Co. lessened its holdings in shares of United Technologies Co. (NYSE:UTX) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,521 shares of the conglomerate’s stock after selling 98 shares during the quarter. Farmers Trust Co.’s holdings in United Technologies were worth $1,027,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. Neville Rodie & Shaw Inc. grew its position in United Technologies by 0.9% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 77,083 shares of the conglomerate’s stock worth $10,036,000 after purchasing an additional 703 shares during the last quarter. Cacti Asset Management LLC grew its position in United Technologies by 7.3% during the 2nd quarter. Cacti Asset Management LLC now owns 164,324 shares of the conglomerate’s stock worth $21,193,000 after purchasing an additional 11,126 shares during the last quarter. Private Trust Co. NA grew its position in United Technologies by 5.9% during the 2nd quarter. Private Trust Co. NA now owns 12,401 shares of the conglomerate’s stock worth $1,614,000 after purchasing an additional 689 shares during the last quarter. Rockland Trust Co. lifted its stake in United Technologies by 0.8% during the 2nd quarter. Rockland Trust Co. now owns 101,385 shares of the conglomerate’s stock valued at $13,200,000 after acquiring an additional 801 shares during the period. Finally, DNB Asset Management AS lifted its stake in United Technologies by 5.7% during the 2nd quarter. DNB Asset Management AS now owns 166,812 shares of the conglomerate’s stock valued at $21,719,000 after acquiring an additional 8,934 shares during the period. 80.73% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have commented on UTX. Zacks Investment Research cut 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 note on Friday, July 19th. Sanford C. Bernstein boosted their target price on shares of United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. boosted their target price on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Cowen reiterated a “buy” rating and issued a $150.00 target price on shares of United Technologies in a research note on Wednesday, September 4th. Finally, William Blair reissued a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating, thirteen 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 price target of $154.81.

In other news, EVP Elizabeth B. Amato sold 4,113 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $137.18, for a total transaction of $564,221.34. Following the sale, the executive vice president now owns 31,501 shares of the company’s stock, valued at $4,321,307.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth B. Amato sold 4,298 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $135.71, for a total transaction of $583,281.58. Following the sale, the executive vice president now directly owns 30,847 shares in the company, valued at approximately $4,186,246.37. The disclosure for this sale can be found here. Insiders sold 103,123 shares of company stock worth $13,787,015 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

NYSE UTX opened at $143.44 on Friday. The firm’s 50-day moving average is $135.73 and its two-hundred day moving average is $132.84. United Technologies Co. has a 12 month low of $100.48 and a 12 month high of $144.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.06 and a quick ratio of 0.74. The stock has a market capitalization of $120.73 billion, a P/E ratio of 18.85, a PEG ratio of 1.96 and a beta of 1.21.

United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, beating the Zacks’ consensus estimate 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 prior year, the company posted $1.93 earnings per share. United Technologies’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, analysts anticipate that United Technologies Co. will post 8.11 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 2.05%. United Technologies’s payout ratio is currently 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.

Further Reading: Market Capitalization – What it Means for Investors

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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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