Arrowstreet Capital Limited Partnership Bought New Holding in United Technologies Co. (UTX)

Arrowstreet Capital Limited Partnership Bought New Holding in United Technologies Co. (UTX)

Arrowstreet Capital Limited Partnership acquired a new position in shares of United Technologies Co. (NYSE:UTX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,200 shares of the company’s stock, valued at approximately $1,118,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mitchell Sinkler & Starr PA increased its position in United Technologies by 1.2% in the third quarter. Mitchell Sinkler & Starr PA now owns 14,761 shares of the company’s stock worth $1,500,000 after buying an additional 175 shares in the last quarter. First Financial Bank N.A. Trust Division increased its position in United Technologies by 9.6% in the third quarter. First Financial Bank N.A. Trust Division now owns 35,093 shares of the company’s stock worth $3,566,000 after buying an additional 3,087 shares in the last quarter. Dynamic Advisors Solutions LLC increased its position in United Technologies by 133.3% in the third quarter. Dynamic Advisors Solutions LLC now owns 17,424 shares of the company’s stock worth $1,770,000 after buying an additional 9,957 shares in the last quarter. Raymond James Trust N.A. increased its position in United Technologies by 9.7% in the third quarter. Raymond James Trust N.A. now owns 60,240 shares of the company’s stock worth $6,121,000 after buying an additional 5,351 shares in the last quarter. Finally, Perkins Coie Trust Co increased its position in United Technologies by 3.0% in the third quarter. Perkins Coie Trust Co now owns 10,202 shares of the company’s stock worth $1,037,000 after buying an additional 294 shares in the last quarter. Institutional investors and hedge funds own 79.89% of the company’s stock.

United Technologies Co. (NYSE:UTX) opened at 112.21 on Friday. The firm has a 50 day moving average price of $112.28 and a 200 day moving average price of $107.71. The stock has a market capitalization of $90.43 billion, a P/E ratio of 18.34 and a beta of 1.09. United Technologies Co. has a 52 week low of $96.89 and a 52 week high of $114.44.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Wednesday, January 25th. The company reported $1.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.56. The firm earned $14.70 billion during the quarter, compared to analyst estimates of $14.70 billion. United Technologies had a return on equity of 18.13% and a net margin of 8.83%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $1.37 EPS. Equities research analysts predict that United Technologies Co. will post $6.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 17th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Wednesday, February 15th. United Technologies’s payout ratio is currently 43.21%.

UTX has been the topic of a number of research reports. Vetr upgraded United Technologies from a “hold” rating to a “buy” rating and set a $120.61 price target on the stock in a research note on Monday, December 19th. Jefferies Group LLC restated a “buy” rating and set a $126.00 price target on shares of United Technologies in a research note on Monday, March 13th. Stifel Nicolaus dropped their price target on United Technologies from $119.00 to $116.00 and set a “hold” rating on the stock in a research note on Friday, January 27th. Barclays PLC restated an “equal weight” rating and set a $111.00 price target on shares of United Technologies in a research note on Friday, December 16th. Finally, Robert W. Baird restated a “neutral” rating and set a $110.00 price target on shares of United Technologies in a research note on Friday, January 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $116.01.

In other United Technologies news, VP Akhil Johri sold 2,209 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $111.41, for a total transaction of $246,104.69. Following the completion of the transaction, the vice president now directly owns 19,100 shares of the company’s stock, valued at approximately $2,127,931. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 1,022 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $112.26, for a total value of $114,729.72. Following the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at $224,520. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,497 shares of company stock valued at $4,982,862. 0.15% of the stock is currently owned by corporate insiders.

About United Technologies

United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.

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