Financial Management Professionals Inc. increased its holdings in shares of United Technologies Co. (NYSE:UTX) by 3,600.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259 shares of the conglomerate’s stock after buying an additional 252 shares during the period. Financial Management Professionals Inc.’s holdings in United Technologies were worth $35,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of UTX. Clarus Wealth Advisors increased its stake in United Technologies by 13.0% in the third quarter. Clarus Wealth Advisors now owns 3,500 shares of the conglomerate’s stock valued at $478,000 after purchasing an additional 403 shares in the last quarter. Northside Capital Management LLC increased its stake in United Technologies by 40.5% in the third quarter. Northside Capital Management LLC now owns 5,107 shares of the conglomerate’s stock valued at $697,000 after purchasing an additional 1,472 shares in the last quarter. Burns J W & Co. Inc. NY increased its stake in United Technologies by 0.8% in the third quarter. Burns J W & Co. Inc. NY now owns 30,853 shares of the conglomerate’s stock valued at $4,212,000 after purchasing an additional 237 shares in the last quarter. Abner Herrman & Brock LLC increased its stake in United Technologies by 146.7% in the third quarter. Abner Herrman & Brock LLC now owns 16,926 shares of the conglomerate’s stock valued at $2,311,000 after purchasing an additional 10,066 shares in the last quarter. Finally, Domani Wealth LLC increased its stake in United Technologies by 4.0% in the third quarter. Domani Wealth LLC now owns 5,149 shares of the conglomerate’s stock valued at $703,000 after purchasing an additional 200 shares in the last quarter. 80.68% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Akhil Johri sold 4,680 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $135.29, for a total transaction of $633,157.20. Following the completion of the sale, the chief financial officer now owns 67,345 shares of the company’s stock, valued at $9,111,105.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert J. Bailey sold 831 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.09, for a total transaction of $112,259.79. Following the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $270,180. The disclosure for this sale can be found here. Insiders have sold 103,123 shares of company stock valued at $13,787,015 in the last three months. 0.15% of the stock is owned by insiders.
Several brokerages have commented on UTX. Wolfe Research set a $152.00 target price on shares of United Technologies and gave the company a “buy” rating in a research note on Wednesday, September 18th. Sanford C. Bernstein upped their target price on shares of United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their target price on shares of United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday. William Blair reaffirmed a “hold” rating on shares of United Technologies in a research note on Tuesday, September 3rd. Finally, Cowen reaffirmed a “buy” rating and issued a $150.00 target price on shares of United Technologies in a research note on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $154.81.
Shares of UTX stock traded up $2.20 during trading hours on Friday, hitting $136.12. 334,591 shares of the company were exchanged, compared to its average volume of 2,680,964. The business has a 50 day moving average of $132.76 and a two-hundred day moving average of $132.21. The company has a current ratio of 1.05, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $144.40. The company has a market capitalization of $115.56 billion, a PE ratio of 17.89, a PEG ratio of 2.28 and a beta of 1.21.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The company had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. On average, research analysts forecast that United Technologies Co. will post 8.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.16%. United Technologies’s dividend payout ratio is 38.63%.
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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