United Technologies Co. (NYSE:UTX) Shares Sold by Altavista Wealth Management Inc.

Altavista Wealth Management Inc. lessened its holdings in shares of United Technologies Co. (NYSE:UTX) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,778 shares of the conglomerate’s stock after selling 350 shares during the period. Altavista Wealth Management Inc.’s holdings in United Technologies were worth $516,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of United Technologies by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 68,834,966 shares of the conglomerate’s stock worth $8,962,313,000 after acquiring an additional 777,327 shares in the last quarter. Morgan Stanley raised its position in shares of United Technologies by 2.0% during the 2nd quarter. Morgan Stanley now owns 11,814,971 shares of the conglomerate’s stock worth $1,538,310,000 after acquiring an additional 231,073 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of United Technologies by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 4,727,841 shares of the conglomerate’s stock worth $645,445,000 after acquiring an additional 117,400 shares in the last quarter. Jensen Investment Management Inc. raised its position in shares of United Technologies by 24.7% during the 2nd quarter. Jensen Investment Management Inc. now owns 3,968,549 shares of the conglomerate’s stock worth $516,705,000 after acquiring an additional 785,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of United Technologies by 3.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,913,669 shares of the conglomerate’s stock worth $509,560,000 after acquiring an additional 128,576 shares in the last quarter. 80.62% of the stock is currently owned by institutional investors and hedge funds.

In other United Technologies news, VP Robert J. Bailey sold 831 shares of United Technologies stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $135.09, for a total value of $112,259.79. Following the transaction, the vice president now directly owns 2,000 shares in the company, valued at approximately $270,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles D. Gill sold 26,542 shares of United Technologies stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $131.42, for a total value of $3,488,149.64. Following the completion of the transaction, the vice president now owns 103,458 shares in the company, valued at $13,596,450.36. The disclosure for this sale can be found here. Insiders sold a total of 185,306 shares of company stock worth $25,914,056 over the last quarter. Company insiders own 0.15% of the company’s stock.

Several equities research analysts have recently weighed in on UTX shares. Cowen reissued a “buy” rating and set a $150.00 target price on shares of United Technologies in a research report on Wednesday, September 4th. Credit Suisse Group set a $162.00 target price on United Technologies and gave the stock a “buy” rating in a research report on Friday, October 25th. Bank of America restated a “buy” rating and set a $195.00 price target (up previously from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein raised their price target on United Technologies from $143.00 to $154.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 17th. Six 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 has an average rating of “Buy” and an average target price of $154.69.

NYSE:UTX opened at $148.22 on Tuesday. The stock’s 50 day moving average price is $139.19 and its 200 day moving average price is $133.75. The company has a market capitalization of $127.63 billion, a PE ratio of 19.48, a P/E/G ratio of 2.07 and a beta of 1.22. The company has a quick ratio of 0.75, a current ratio of 1.06 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 $149.35.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.18. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.31 billion. During the same quarter last year, the business posted $1.93 EPS. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that United Technologies Co. will post 8.13 EPS for the current fiscal 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 paid a $0.735 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.94 annualized dividend and a dividend yield of 1.98%. United Technologies’s dividend payout ratio (DPR) is currently 38.63%.

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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