Blue Chip Wealth Management Inc. bought a new stake in shares of United Technologies Co. (NYSE:UTX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,657 shares of the conglomerate’s stock, valued at approximately $209,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in UTX. Cadinha & Co. LLC raised its holdings in shares of United Technologies by 3.8% in the fourth quarter. Cadinha & Co. LLC now owns 10,490 shares of the conglomerate’s stock worth $1,338,000 after buying an additional 380 shares during the last quarter. Atlas Brown Inc. raised its holdings in shares of United Technologies by 18.7% during the fourth quarter. Atlas Brown Inc. now owns 2,507 shares of the conglomerate’s stock worth $340,000 after purchasing an additional 395 shares during the last quarter. MEMBERS Trust Co increased its holdings in United Technologies by 8.9% in the fourth quarter. MEMBERS Trust Co now owns 4,977 shares of the conglomerate’s stock valued at $635,000 after buying an additional 405 shares in the last quarter. Good Life Advisors LLC increased its holdings in United Technologies by 22.7% in the fourth quarter. Good Life Advisors LLC now owns 2,207 shares of the conglomerate’s stock valued at $295,000 after buying an additional 408 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in shares of United Technologies by 1.6% in the first quarter. Cornercap Investment Counsel Inc. now owns 26,385 shares of the conglomerate’s stock valued at $3,320,000 after purchasing an additional 420 shares during the period. Institutional investors and hedge funds own 81.57% of the company’s stock.
In other United Technologies news, CFO Akhil Johri sold 6,259 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $128.30, for a total transaction of $803,029.70. Following the completion of the sale, the chief financial officer now owns 47,088 shares of the company’s stock, valued at $6,041,390.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth B. Amato sold 6,557 shares of the company’s stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $123.86, for a total value of $812,150.02. The disclosure for this sale can be found here. In the last three months, insiders sold 33,286 shares of company stock valued at $4,143,938. 0.17% of the stock is currently owned by company insiders.
Several brokerages have recently issued reports on UTX. Zacks Investment Research lowered shares of United Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 13th. ValuEngine downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Morgan Stanley initiated coverage on shares of United Technologies in a research note on Friday, June 15th. They issued an “overweight” rating and a $160.00 price target on the stock. Stifel Nicolaus cut their target price on shares of United Technologies from $131.00 to $127.00 and set a “hold” rating on the stock in a research note on Wednesday, April 25th. Finally, UBS Group set a $155.00 price target on shares of United Technologies and gave the stock a “buy” rating in a report on Thursday, March 15th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $140.31.
Shares of United Technologies opened at $124.87 on Friday, according to MarketBeat Ratings. United Technologies Co. has a 1 year low of $109.10 and a 1 year high of $139.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a market cap of $98.79 billion, a PE ratio of 17.77, a PEG ratio of 1.91 and a beta of 1.09.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $1.77 EPS for the quarter, topping the consensus estimate of $1.51 by $0.26. The firm had revenue of $15.24 billion for the quarter, compared to analysts’ expectations of $14.62 billion. United Technologies had a net margin of 7.28% and a return on equity of 17.67%. United Technologies’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 earnings per share. analysts anticipate that United Technologies Co. will post 7.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 17th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. United Technologies’s payout ratio is 42.11%.
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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