Transcend Wealth Collective LLC bought a new position in shares of United Technologies Co. (NYSE:UTX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 12,366 shares of the conglomerate’s stock, valued at approximately $1,852,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Firestone Capital Management acquired a new stake in United Technologies in the 4th quarter valued at approximately $224,000. PSI Advisors LLC acquired a new stake in United Technologies in the 4th quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. acquired a new stake in United Technologies in the 4th quarter valued at approximately $30,000. Capital Wealth Alliance LLC acquired a new stake in United Technologies in the 4th quarter valued at approximately $30,000. Finally, Accurate Investment Solutions Inc. acquired a new stake in United Technologies in the 4th quarter valued at approximately $30,000. 81.71% of the stock is currently owned by institutional investors.
Several research firms recently commented on UTX. Benchmark began coverage on United Technologies in a research report on Friday, January 31st. They issued a “buy” rating and a $186.00 target price on the stock. UBS Group raised their target price on United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, November 28th. ValuEngine upgraded United Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Argus restated a “buy” rating and issued a $170.00 target price on shares of United Technologies in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. United Technologies has an average rating of “Buy” and a consensus price target of $162.80.
Shares of UTX stock traded up $8.45 during mid-day trading on Thursday, hitting $104.64. 14,523,033 shares of the stock traded hands, compared to its average volume of 7,059,056. United Technologies Co. has a twelve month low of $69.02 and a twelve month high of $158.44. The firm has a market cap of $75.15 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26. The company’s 50-day simple moving average is $127.90 and its 200-day simple moving average is $140.77. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.10. The business had revenue of $19.55 billion during the quarter, compared to analyst estimates of $19.34 billion. United Technologies had a return on equity of 16.60% and a net margin of 7.19%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.95 EPS. Analysts forecast that United Technologies Co. will post 7.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 14th were given a $0.735 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.94 annualized dividend and a dividend yield of 2.81%. United Technologies’s dividend payout ratio (DPR) is presently 35.59%.
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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