Dividend Assets Capital LLC cut its stake in United Technologies Co. (NYSE:UTX) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,554 shares of the conglomerate’s stock after selling 9,109 shares during the quarter. Dividend Assets Capital LLC’s holdings in United Technologies were worth $4,638,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Newman Dignan & Sheerar Inc. grew its holdings in United Technologies by 1.1% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 8,234 shares of the conglomerate’s stock valued at $877,000 after purchasing an additional 86 shares during the period. Cim LLC grew its holdings in United Technologies by 4.0% during the fourth quarter. Cim LLC now owns 2,280 shares of the conglomerate’s stock valued at $243,000 after purchasing an additional 87 shares during the period. Pineno Levin & Ford Asset Management Inc. grew its holdings in United Technologies by 2.0% during the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 4,794 shares of the conglomerate’s stock valued at $510,000 after purchasing an additional 93 shares during the period. Parkside Financial Bank & Trust grew its holdings in United Technologies by 3.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,221 shares of the conglomerate’s stock valued at $343,000 after purchasing an additional 95 shares during the period. Finally, Burke & Herbert Bank & Trust Co. grew its holdings in United Technologies by 1.6% during the fourth quarter. Burke & Herbert Bank & Trust Co. now owns 6,068 shares of the conglomerate’s stock valued at $646,000 after purchasing an additional 96 shares during the period. 80.09% of the stock is owned by institutional investors.
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. initiated coverage on United Technologies in a report on Friday, February 22nd. They set an “overweight” rating and a $132.00 price objective for the company. Royal Bank of Canada lowered United Technologies from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $139.00 to $119.00 in a report on Thursday, January 3rd. Cowen reaffirmed a “hold” rating and issued a $141.00 price target on shares of United Technologies in a report on Thursday, December 6th. Barclays cut their price target on United Technologies from $153.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, December 17th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $149.00 price target on shares of United Technologies in a report on Wednesday, January 23rd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. United Technologies has an average rating of “Buy” and a consensus target price of $143.08.
In related news, Chairman Gregory Hayes sold 35,942 shares of United Technologies stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $123.81, for a total transaction of $4,449,979.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael R. Dumais sold 9,620 shares of United Technologies stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total value of $1,145,934.40. Following the sale, the executive vice president now directly owns 35,627 shares of the company’s stock, valued at approximately $4,243,888.24. The disclosure for this sale can be found here. Insiders have sold 96,352 shares of company stock valued at $11,974,093 in the last three months. 0.17% of the stock is owned by corporate insiders.
United Technologies stock opened at $125.92 on Friday. United Technologies Co. has a one year low of $100.48 and a one year high of $144.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.13 and a quick ratio of 0.81. The firm has a market capitalization of $108.51 billion, a PE ratio of 16.55, a P/E/G ratio of 1.79 and a beta of 1.20.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.42. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The firm had revenue of $18.04 billion during the quarter, compared to analyst estimates of $16.87 billion. During the same period last year, the company earned $1.60 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts anticipate that United Technologies Co. will post 7.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 10th. Investors of record on Friday, February 15th were paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.33%. The ex-dividend date was Thursday, February 14th. United Technologies’s dividend payout ratio is 38.63%.
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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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