Lakeview Capital Partners LLC increased its position in United Technologies Co. (NYSE:UTX) by 8.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,186 shares of the conglomerate’s stock after acquiring an additional 173 shares during the period. Lakeview Capital Partners LLC’s holdings in United Technologies were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of UTX. Gamble Jones Investment Counsel grew its position in United Technologies by 0.6% during the third quarter. Gamble Jones Investment Counsel now owns 83,834 shares of the conglomerate’s stock worth $11,445,000 after buying an additional 512 shares during the period. Eagle Asset Management Inc. bought a new position in shares of United Technologies during the 3rd quarter worth approximately $809,000. Alps Advisors Inc. bought a new position in shares of United Technologies during the 3rd quarter worth approximately $778,000. Delaney Dennis R grew its stake in shares of United Technologies by 4.0% during the 3rd quarter. Delaney Dennis R now owns 14,190 shares of the conglomerate’s stock worth $1,936,000 after acquiring an additional 550 shares in the last quarter. Finally, Front Barnett Associates LLC grew its stake in shares of United Technologies by 2.1% during the 3rd quarter. Front Barnett Associates LLC now owns 110,822 shares of the conglomerate’s stock worth $15,129,000 after acquiring an additional 2,290 shares in the last quarter. Institutional investors own 80.62% of the company’s stock.
Shares of NYSE:UTX traded up $0.15 during midday trading on Friday, hitting $148.88. 1,668,146 shares of the stock were exchanged, compared to its average volume of 3,289,642. The stock has a market capitalization of $127.63 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.07 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 1.06. The business’s 50-day moving average price is $138.67 and its 200 day moving average price is $133.63. United Technologies Co. has a 12 month low of $100.48 and a 12 month high of $149.35.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 1.97%. The ex-dividend date is Thursday, November 14th. United Technologies’s dividend payout ratio (DPR) is currently 38.63%.
UTX has been the subject of several research reports. Credit Suisse Group set a $162.00 price target on shares of United Technologies and gave the stock a “buy” rating in a research note on Friday, October 25th. William Blair reiterated a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Cowen reiterated a “buy” rating and issued a $150.00 target price on shares of United Technologies in a research report on Wednesday, September 4th. Sanford C. Bernstein lifted their target price on United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research report on Tuesday, September 17th. Finally, Zacks Investment Research cut United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price on the stock. in a research report on Friday, July 19th. 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. The company currently has an average rating of “Buy” and an average price target of $154.69.
In other news, VP Robert J. Bailey sold 831 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $135.09, for a total transaction of $112,259.79. Following the sale, the vice president now directly owns 2,000 shares in the company, valued at $270,180. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 1,299 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $149.17, for a total value of $193,771.83. Following the sale, the vice president now owns 2,600 shares in the company, valued at $387,842. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,306 shares of company stock worth $25,914,056. Company insiders own 0.15% of the company’s stock.
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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