Northwest Wealth Management LLC raised its position in United Technologies Co. (NYSE:UTX) by 47.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,084 shares of the conglomerate’s stock after buying an additional 350 shares during the period. Northwest Wealth Management LLC’s holdings in United Technologies were worth $140,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Point View Wealth Management Inc. boosted its holdings in shares of United Technologies by 2.4% during the 4th quarter. Point View Wealth Management Inc. now owns 3,600 shares of the conglomerate’s stock worth $383,000 after purchasing an additional 85 shares during the last quarter. Newman Dignan & Sheerar Inc. boosted its holdings in shares of United Technologies by 1.1% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 8,234 shares of the conglomerate’s stock worth $877,000 after purchasing an additional 86 shares during the last quarter. Cim LLC boosted its holdings in shares of United Technologies by 4.0% during the 4th quarter. Cim LLC now owns 2,280 shares of the conglomerate’s stock worth $243,000 after purchasing an additional 87 shares during the last quarter. Addenda Capital Inc. boosted its holdings in shares of United Technologies by 0.7% during the 1st quarter. Addenda Capital Inc. now owns 11,912 shares of the conglomerate’s stock worth $1,535,000 after purchasing an additional 87 shares during the last quarter. Finally, Pineno Levin & Ford Asset Management Inc. boosted its holdings in shares of United Technologies by 2.0% during the 4th quarter. Pineno Levin & Ford Asset Management Inc. now owns 4,794 shares of the conglomerate’s stock worth $510,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 80.53% of the company’s stock.
UTX has been the topic of several recent research reports. Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Bank of America restated a “buy” rating and set a $185.00 target price on shares of United Technologies in a report on Thursday, January 24th. Goldman Sachs Group upgraded United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 target price on the stock in a report on Friday, February 1st. Barclays boosted their target price on United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a research report on Wednesday, April 24th. Six 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 has an average rating of “Buy” and an average price target of $147.76.
UTX stock opened at $133.98 on Thursday. The company has a market cap of $113.79 billion, a PE ratio of 17.61, a PEG ratio of 1.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.79 and a current ratio of 1.13. United Technologies Co. has a one year low of $100.48 and a one year high of $144.40.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.20. The firm had revenue of $18.37 billion for the quarter, compared to analyst estimates of $18.01 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 EPS. Analysts forecast that United Technologies Co. will post 7.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Thursday, May 16th. United Technologies’s payout ratio is presently 38.63%.
In other United Technologies news, CEO Robert Kelly Ortberg sold 16,587 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $126.59, for a total value of $2,099,748.33. Following the sale, the chief executive officer now owns 70,211 shares of the company’s stock, valued at $8,888,010.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO David L. Gitlin sold 7,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $128.26, for a total value of $923,472.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,415 shares of company stock worth $3,614,625. Corporate insiders own 0.15% of the company’s stock.
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.
Read More: Cost of Debt
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.