Caxton Associates LP Trims Position in United Technologies Co. (UTX)

Caxton Associates LP cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 68.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,191 shares of the conglomerate’s stock after selling 23,809 shares during the period. Caxton Associates LP’s holdings in United Technologies were worth $1,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems purchased a new stake in United Technologies during the third quarter valued at approximately $7,931,000. Dodge & Cox lifted its position in United Technologies by 25.7% during the third quarter. Dodge & Cox now owns 2,200 shares of the conglomerate’s stock valued at $308,000 after acquiring an additional 450 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in United Technologies during the fourth quarter valued at approximately $70,000. Drexel Morgan & Co. raised its holdings in shares of United Technologies by 4.1% in the fourth quarter. Drexel Morgan & Co. now owns 12,530 shares of the conglomerate’s stock worth $1,334,000 after buying an additional 491 shares during the last quarter. Finally, Signet Investment Advisory Group Inc. purchased a new position in shares of United Technologies in the fourth quarter worth $403,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.

A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a report on Wednesday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $159.00 price objective on shares of United Technologies in a research note on Wednesday, April 24th. Seaport Global Securities assumed coverage on shares of United Technologies in a research note on Friday. They issued a “neutral” rating and a $136.86 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of United Technologies in a research note on Friday, February 22nd. They issued an “overweight” rating and a $132.00 price objective on the stock. Finally, Barclays raised their price target on shares of United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $147.76.

In other United Technologies news, VP Robert J. Bailey sold 1,418 shares of United Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $126.20, for a total transaction of $178,951.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Akhil Johri sold 3,210 shares of United Technologies stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $128.49, for a total transaction of $412,452.90. Following the transaction, the vice president now directly owns 62,915 shares in the company, valued at $8,083,948.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,288 shares of company stock worth $10,902,196. Insiders own 0.15% of the company’s stock.

Shares of NYSE UTX traded up $0.31 during trading on Friday, hitting $137.17. The company had a trading volume of 2,625,413 shares, compared to its average volume of 3,985,148. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. The firm has a market cap of $118.19 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.20. The firm had revenue of $18.37 billion for the quarter, compared to the consensus estimate of $18.01 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the firm posted $1.77 earnings per share. Equities research analysts anticipate that United Technologies Co. will post 7.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, May 16th. United Technologies’s dividend payout ratio is currently 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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