Cypress Wealth Services LLC decreased its holdings in United Technologies Co. (NYSE:UTX) by 3.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,138 shares of the conglomerate’s stock after selling 110 shares during the quarter. Cypress Wealth Services LLC’s holdings in United Technologies were worth $428,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UTX. Phocas Financial Corp. acquired a new stake in shares of United Technologies in the second quarter valued at approximately $25,000. Krane Funds Advisors LLC acquired a new stake in shares of United Technologies in the second quarter valued at approximately $26,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of United Technologies in the second quarter valued at approximately $30,000. American National Bank acquired a new stake in shares of United Technologies in the third quarter valued at approximately $34,000. Finally, Financial Management Professionals Inc. increased its holdings in shares of United Technologies by 3,600.0% in the third quarter. Financial Management Professionals Inc. now owns 259 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 252 shares during the last quarter. 80.72% of the stock is owned by institutional investors.
Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. William Blair reiterated a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Sanford C. Bernstein increased their price objective on United Technologies from $143.00 to $154.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 17th. Credit Suisse Group assumed coverage on United Technologies in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $164.00 price objective for the company. Finally, Cowen reiterated a “buy” rating and issued a $150.00 price objective on shares of United Technologies in a research report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $154.81.
In related news, EVP Elizabeth B. Amato sold 4,113 shares of United Technologies stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $137.18, for a total value of $564,221.34. Following the completion of the transaction, the executive vice president now directly owns 31,501 shares in the company, valued at $4,321,307.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akhil Johri sold 4,680 shares of United Technologies stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $135.29, for a total value of $633,157.20. Following the completion of the transaction, the chief financial officer now owns 67,345 shares of the company’s stock, valued at $9,111,105.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,123 shares of company stock valued at $13,787,015. 0.15% of the stock is currently owned by company insiders.
Shares of UTX traded up $1.23 during midday trading on Thursday, hitting $137.94. 90,769 shares of the stock were exchanged, compared to its average volume of 2,609,190. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.40. The stock has a fifty day simple moving average of $134.08 and a 200 day simple moving average of $132.52. The firm has a market cap of $118.55 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 1.05.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, topping the consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The business had revenue of $19.63 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same period last year, the business posted $1.97 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, equities research analysts forecast that United Technologies Co. will post 8.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $0.735 dividend. The ex-dividend date is Thursday, November 14th. This represents a $2.94 dividend on an annualized basis and a yield of 2.13%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.
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.
Read More: How to execute a trade ex-dividend strategy?
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.