Homrich & Berg Sells 722 Shares of United Technologies Co. (NYSE:UTX)

Homrich & Berg trimmed its stake in shares of United Technologies Co. (NYSE:UTX) by 9.5% in the third quarter, HoldingsChannel.com reports. The fund owned 6,864 shares of the conglomerate’s stock after selling 722 shares during the quarter. Homrich & Berg’s holdings in United Technologies were worth $937,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Neville Rodie & Shaw Inc. lifted its stake in United Technologies by 0.9% during the second quarter. Neville Rodie & Shaw Inc. now owns 77,083 shares of the conglomerate’s stock valued at $10,036,000 after purchasing an additional 703 shares during the last quarter. Cacti Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 11,126 shares during the period. Private Trust Co. NA lifted its holdings in shares of 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 acquiring an additional 689 shares during the period. Rockland Trust Co. lifted its holdings in shares of United Technologies by 0.8% during the 2nd quarter. Rockland Trust Co. now owns 101,385 shares of the conglomerate’s stock worth $13,200,000 after acquiring an additional 801 shares during the period. Finally, DNB Asset Management AS lifted its holdings in shares of United Technologies by 5.7% during the 2nd quarter. DNB Asset Management AS now owns 166,812 shares of the conglomerate’s stock worth $21,719,000 after acquiring an additional 8,934 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

UTX stock traded down $0.07 during trading on Wednesday, hitting $148.32. 105,610 shares of the stock traded hands, compared to its average volume of 3,507,103. United Technologies Co. has a one year low of $100.48 and a one year high of $149.35. The stock has a market cap of $128.52 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 2.08 and a beta of 1.22. The company has a 50 day simple moving average of $139.45 and a 200 day simple moving average of $133.79. The company has a current ratio of 1.06, a quick ratio of 0.75 and a debt-to-equity ratio of 0.93.

United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.31 billion. During the same period last year, the firm posted $1.93 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, analysts predict that United Technologies Co. will post 8.13 earnings per share for the current fiscal year.

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

A number of research firms have recently commented on UTX. Bank of America reaffirmed a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of United Technologies in a report on Thursday, July 25th. Wolfe Research set a $152.00 price objective on shares of United Technologies and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays raised their price objective on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Finally, Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of United Technologies in a report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $154.69.

In related news, VP Charles D. Gill sold 26,542 shares of United Technologies stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $131.42, for a total transaction of $3,488,149.64. Following the completion of the transaction, the vice president now directly owns 103,458 shares of the company’s stock, valued at approximately $13,596,450.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Hayes sold 19,542 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $133.35, for a total transaction of $2,605,925.70. Following the completion of the sale, the chief executive officer now owns 246,111 shares of the company’s stock, valued at approximately $32,818,901.85. The disclosure for this sale can be found here. Insiders have sold a total of 185,306 shares of company stock valued at $25,914,056 over the last three months. 0.15% of the stock is currently owned by insiders.

About United Technologies

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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