Belpointe Asset Management LLC trimmed its position in shares of United Technologies Co. (NYSE:UTX) by 30.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,885 shares of the conglomerate’s stock after selling 3,038 shares during the quarter. Belpointe Asset Management LLC’s holdings in United Technologies were worth $1,031,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of UTX. PSI Advisors LLC acquired a new position in United Technologies in the fourth quarter valued at about $29,000. Accurate Investment Solutions Inc. acquired a new position in United Technologies in the fourth quarter valued at about $30,000. Mizuho Securities Co. Ltd. acquired a new position in United Technologies in the fourth quarter valued at about $30,000. Capital Wealth Alliance LLC acquired a new position in United Technologies in the fourth quarter valued at about $30,000. Finally, Savior LLC acquired a new position in United Technologies in the fourth quarter valued at about $32,000. 81.71% of the stock is owned by hedge funds and other institutional investors.
UTX has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Benchmark initiated coverage on shares of United Technologies in a research report on Friday, January 31st. They issued a “buy” rating and a $186.00 target price on the stock. Barclays reaffirmed a “buy” rating and issued a $150.00 target price on shares of United Technologies in a research report on Friday, March 13th. Cowen reaffirmed an “outperform” rating and issued a $150.00 target price (down previously from $169.00) on shares of United Technologies in a research report on Thursday, March 5th. Finally, Argus reaffirmed a “buy” rating and issued a $170.00 target price on shares of United Technologies in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. United Technologies presently has an average rating of “Buy” and an average price target of $162.80.
Shares of UTX opened at $96.19 on Thursday. The stock has a market capitalization of $64.92 billion, a PE ratio of 15.01, a P/E/G ratio of 1.17 and a beta of 1.26. United Technologies Co. has a 1 year low of $69.02 and a 1 year high of $158.44. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. The company’s 50-day simple moving average is $129.04 and its 200-day simple moving average is $140.96.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.10. The business had revenue of $19.55 billion for the quarter, compared to analysts’ expectations of $19.34 billion. United Technologies had a net margin of 7.19% and a return on equity of 16.60%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.95 earnings per share. On average, sell-side analysts predict that United Technologies Co. will post 7.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $0.735 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.94 annualized dividend and a dividend yield of 3.06%. United Technologies’s dividend payout ratio is presently 35.59%.
United Technologies 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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