Principle Wealth Partners LLC boosted its stake in United Technologies Co. (NYSE:UTX) by 12.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,750 shares of the conglomerate’s stock after acquiring an additional 1,613 shares during the quarter. Principle Wealth Partners LLC’s holdings in United Technologies were worth $2,014,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC grew its stake in shares of United Technologies by 2.2% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the conglomerate’s stock worth $447,000 after acquiring an additional 71 shares during the last quarter. Eads & Heald Wealth Management raised its stake in United Technologies by 0.5% during the third quarter. Eads & Heald Wealth Management now owns 14,267 shares of the conglomerate’s stock valued at $1,948,000 after buying an additional 72 shares in the last quarter. Wealth Architects LLC raised its stake in United Technologies by 4.3% during the second quarter. Wealth Architects LLC now owns 1,812 shares of the conglomerate’s stock valued at $236,000 after buying an additional 75 shares in the last quarter. Patten Group Inc. raised its stake in United Technologies by 0.3% during the second quarter. Patten Group Inc. now owns 27,978 shares of the conglomerate’s stock valued at $3,643,000 after buying an additional 75 shares in the last quarter. Finally, Glenview State Bank Trust DEPT. raised its stake in United Technologies by 3.0% during the second quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock valued at $331,000 after buying an additional 75 shares in the last quarter. 80.62% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Robert J. Bailey sold 1,299 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $149.17, for a total transaction of $193,771.83. Following the completion of the transaction, the vice president now directly owns 2,600 shares of the company’s stock, valued at $387,842. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Charles D. Gill sold 26,542 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $131.42, for a total value of $3,488,149.64. Following the transaction, the vice president now directly owns 103,458 shares of the company’s stock, valued at $13,596,450.36. The disclosure for this sale can be found here. Insiders have sold 185,306 shares of company stock valued at $25,914,056 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.
Several analysts have issued reports on the company. Credit Suisse Group set a $162.00 price objective on United Technologies and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America restated a “buy” rating and set a $195.00 price objective (up previously from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Wolfe Research set a $152.00 price objective on United Technologies and gave the company a “buy” rating in a research note on Wednesday, September 18th. Sanford C. Bernstein upped their price objective on United Technologies from $143.00 to $154.00 and gave the company a “market perform” rating in a research note on Tuesday, September 17th. Finally, Zacks Investment Research cut United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective on the stock. in a research note on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $154.69.
Shares of NYSE:UTX traded up $0.15 during trading on Friday, hitting $148.88. 1,668,146 shares of the company traded hands, compared to its average volume of 3,289,642. The stock has a market capitalization of $127.63 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 2.07 and a beta of 1.22. The business’s fifty day moving average is $138.67 and its 200-day moving average is $133.63. United Technologies Co. has a one year low of $100.48 and a one year high of $149.35. The company has a quick ratio of 0.75, a current ratio of 1.06 and a debt-to-equity ratio of 0.93.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 earnings per share. On average, analysts forecast that United Technologies Co. will post 8.13 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, November 14th. 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.
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