Rockland Trust Co. Has $13.87 Million Stake in United Technologies Co. (NYSE:UTX)

Rockland Trust Co. raised its position in United Technologies Co. (NYSE:UTX) by 4.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 105,679 shares of the conglomerate’s stock after purchasing an additional 4,294 shares during the period. United Technologies accounts for approximately 1.3% of Rockland Trust Co.’s portfolio, making the stock its 29th largest position. Rockland Trust Co.’s holdings in United Technologies were worth $13,866,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Buffington Mohr McNeal lifted its position in shares of United Technologies by 0.4% in the 3rd quarter. Buffington Mohr McNeal now owns 39,061 shares of the conglomerate’s stock worth $5,333,000 after purchasing an additional 137 shares during the period. Truvestments Capital LLC lifted its position in shares of United Technologies by 32.8% in the 3rd quarter. Truvestments Capital LLC now owns 478 shares of the conglomerate’s stock worth $65,000 after purchasing an additional 118 shares during the period. Pacer Advisors Inc. lifted its position in shares of United Technologies by 13.5% in the 3rd quarter. Pacer Advisors Inc. now owns 87,073 shares of the conglomerate’s stock worth $11,887,000 after purchasing an additional 10,383 shares during the period. We Are One Seven LLC lifted its position in shares of United Technologies by 10.2% in the 3rd quarter. We Are One Seven LLC now owns 2,197 shares of the conglomerate’s stock worth $300,000 after purchasing an additional 204 shares during the period. Finally, Gradient Investments LLC lifted its position in shares of United Technologies by 9.7% in the 3rd quarter. Gradient Investments LLC now owns 1,104 shares of the conglomerate’s stock worth $151,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 80.68% of the company’s stock.

A number of research analysts have recently issued reports on UTX shares. JPMorgan Chase & Co. boosted their price target on shares of United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America restated a “buy” rating and issued a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Barclays boosted their price target on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Cowen restated a “buy” rating and issued a $150.00 price target on shares of United Technologies in a research report on Wednesday, September 4th. Finally, 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 report on Tuesday, September 17th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. United Technologies presently has an average rating of “Buy” and a consensus price target of $154.81.

Shares of United Technologies stock traded up $2.36 during trading on Friday, reaching $136.28. 795,457 shares of the company traded hands, compared to its average volume of 2,680,964. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.40. The company has a 50 day moving average price of $132.76 and a 200-day moving average price of $132.21. The firm has a market capitalization of $115.56 billion, a PE ratio of 17.91, a P/E/G ratio of 2.28 and a beta of 1.21.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company had revenue of $19.63 billion for the quarter, compared to the consensus estimate of $19.58 billion. During the same quarter in the previous year, the company earned $1.97 EPS. United Technologies’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities research analysts expect that United Technologies Co. will post 8.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 yield of 2.16%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.

In other United Technologies news, CFO Akhil Johri sold 4,680 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $135.29, for a total transaction of $633,157.20. Following the completion of the sale, the chief financial officer now owns 67,345 shares in the company, valued at approximately $9,111,105.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth B. Amato sold 4,113 shares of the business’s 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 sale, the executive vice president now owns 31,501 shares of the company’s stock, valued at approximately $4,321,307.18. The disclosure for this sale can be found here. Insiders have sold a total of 103,123 shares of company stock valued at $13,787,015 in the last 90 days. 0.15% of the stock is currently owned by company insiders.

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

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