Ellis Investment Partners LLC Invests $778,000 in United Technologies Co. (UTX) Stock

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Ellis Investment Partners LLC purchased a new stake in United Technologies Co. (NYSE:UTX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,310 shares of the conglomerate’s stock, valued at approximately $778,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Guidant Wealth Advisors raised its holdings in shares of United Technologies by 64.9% in the fourth quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in shares of United Technologies in the fourth quarter valued at approximately $64,000. Tributary Capital Management LLC acquired a new stake in shares of United Technologies in the fourth quarter valued at approximately $69,000. Lavaca Capital LLC acquired a new stake in shares of United Technologies in the fourth quarter valued at approximately $83,000. Finally, CKW Financial Group raised its holdings in shares of United Technologies by 700.0% in the fourth quarter. CKW Financial Group now owns 800 shares of the conglomerate’s stock valued at $85,000 after purchasing an additional 700 shares during the last quarter. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

In other United Technologies news, EVP Michael R. Dumais sold 9,620 shares of the company’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total value of $1,145,934.40. Following the transaction, the executive vice president now directly owns 35,627 shares in the company, valued at $4,243,888.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert J. Bailey sold 862 shares of the company’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $121.71, for a total transaction of $104,914.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,266 shares of company stock worth $7,288,998. Corporate insiders own 0.17% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a report on Wednesday, January 30th. Royal Bank of Canada boosted their target price on shares of United Technologies to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, January 24th. Robert W. Baird lowered their target price on shares of United Technologies from $167.00 to $149.00 and set an “outperform” rating on the stock in a report on Wednesday, November 28th. Bank of America set a $180.00 target price on shares of United Technologies and gave the stock a “buy” rating in a report on Tuesday, November 27th. Finally, OTR Global downgraded shares of United Technologies to a “positive” rating in a report on Friday, January 18th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. United Technologies has a consensus rating of “Buy” and an average price target of $144.85.

Shares of UTX opened at $124.42 on Thursday. The firm has a market cap of $105.56 billion, a P/E ratio of 16.35, a PEG ratio of 1.76 and a beta of 1.17. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.81 and a current ratio of 1.13.

United Technologies (NYSE:UTX) last issued its earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.42. The business had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $16.87 billion. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.60 earnings per share. On average, analysts predict that United Technologies Co. will post 7.89 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 10th. Investors of record on Friday, February 15th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $2.94 dividend on an annualized basis and a yield of 2.36%. United Technologies’s payout ratio is 38.63%.

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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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