Connecticut Wealth Management LLC increased its holdings in United Technologies Co. (NYSE:UTX) by 44.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,950 shares of the conglomerate’s stock after purchasing an additional 4,905 shares during the period. United Technologies makes up 1.1% of Connecticut Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Connecticut Wealth Management LLC’s holdings in United Technologies were worth $1,970,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Almanack Investment Partners LLC. acquired a new position in United Technologies during the 4th quarter worth $103,000. Wealthcare Advisory Partners LLC acquired a new position in United Technologies during the 3rd quarter worth $118,000. Taylor Hoffman Wealth Management acquired a new position in United Technologies during the 4th quarter worth $140,000. Trustcore Financial Services LLC acquired a new position in United Technologies during the 4th quarter worth $143,000. Finally, First Dallas Securities Inc. acquired a new position in United Technologies during the 4th quarter worth $148,000. Hedge funds and other institutional investors own 81.45% of the company’s stock.
A number of research analysts have weighed in on the stock. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and set a $146.00 target price (up previously from $124.00) on shares of United Technologies in a research report on Thursday, January 25th. Cowen reissued a “hold” rating and set a $141.00 target price on shares of United Technologies in a research report on Thursday, January 25th. Barclays began coverage on shares of United Technologies in a research report on Thursday, February 15th. They set an “overweight” rating and a $157.00 price objective for the company. Finally, Zacks Investment Research lowered shares of United Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 13th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. United Technologies presently has a consensus rating of “Buy” and an average target price of $138.21.
In related news, insider Robert J. Mcdonough sold 10,770 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $119.09, for a total value of $1,282,599.30. Following the sale, the insider now owns 40,612 shares of the company’s stock, valued at $4,836,483.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 2,032 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the completion of the sale, the vice president now directly owns 4,900 shares in the company, valued at approximately $661,255. The disclosure for this sale can be found here. In the last three months, insiders sold 19,778 shares of company stock worth $2,425,001. 0.17% of the stock is currently owned by insiders.
Shares of United Technologies opened at $125.19 on Monday, according to Marketbeat. The stock has a market cap of $100.16 billion, a PE ratio of 18.83, a P/E/G ratio of 1.93 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.32 and a quick ratio of 0.96. United Technologies Co. has a 52 week low of $109.10 and a 52 week high of $139.24.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, April 24th. The conglomerate reported $1.77 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.26. The business had revenue of $15.24 billion during the quarter, compared to analyst estimates of $14.62 billion. United Technologies had a net margin of 7.28% and a return on equity of 17.67%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. equities analysts predict that United Technologies Co. will post 7.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Friday, May 18th will be paid a $0.70 dividend. The ex-dividend date is Thursday, May 17th. This represents a $2.80 dividend on an annualized basis and a yield of 2.24%. United Technologies’s payout ratio is currently 42.11%.
United Technologies Company 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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