PBWM Holdings LLC reduced its position in United Technologies Corporation (NYSE:UTX) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,101 shares of the conglomerate’s stock after selling 434 shares during the period. PBWM Holdings LLC’s holdings in United Technologies Corporation were worth $572,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Tortoise Investment Management LLC raised its position in shares of United Technologies Corporation by 2.7% in the fourth quarter. Tortoise Investment Management LLC now owns 1,031 shares of the conglomerate’s stock valued at $113,000 after buying an additional 27 shares in the last quarter. Northwest Quadrant Wealth Management LLC bought a new position in United Technologies Corporation during the fourth quarter valued at about $115,000. Thomas J. Herzfeld Advisors Inc. bought a new position in United Technologies Corporation during the fourth quarter valued at about $118,000. Alexandria Capital LLC raised its position in United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares during the period. Finally, Focused Wealth Management Inc raised its position in United Technologies Corporation by 81.3% in the fourth quarter. Focused Wealth Management Inc now owns 1,115 shares of the conglomerate’s stock valued at $122,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.
Shares of United Technologies Corporation (UTX) opened at 123.11 on Tuesday. The firm’s 50-day moving average price is $121.16 and its 200-day moving average price is $114.71. The firm has a market capitalization of $98.64 billion, a PE ratio of 19.17 and a beta of 1.07. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79.
United Technologies Corporation (NYSE:UTX) last released its earnings results on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. The firm had revenue of $13.82 billion during the quarter, compared to the consensus estimate of $13.50 billion. United Technologies Corporation had a return on equity of 18.10% and a net margin of 9.10%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.47 earnings per share. On average, equities analysts predict that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.27%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio is 41.19%.
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UTX has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price target on United Technologies Corporation from $118.00 to $125.00 and gave the stock a “sector perform” rating in a report on Thursday, April 27th. Vetr downgraded United Technologies Corporation from a “hold” rating to a “sell” rating and set a $108.06 target price for the company. in a report on Monday, March 27th. Cowen and Company lifted their target price on United Technologies Corporation from $120.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, March 24th. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a report on Monday, June 5th. Finally, Morgan Stanley lifted their price target on United Technologies Corporation from $120.00 to $123.00 and gave the company an “overweight” rating in a research report on Friday, April 28th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. United Technologies Corporation has an average rating of “Hold” and a consensus target price of $122.60.
In other news, VP Robert J. Bailey sold 2,702 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total transaction of $322,970.06. Following the completion of the sale, the vice president now owns 5,000 shares in the company, valued at approximately $597,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Philippe Delpech sold 7,696 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total value of $925,982.72. Following the sale, the insider now owns 63,621 shares of the company’s stock, valued at approximately $7,654,878.72. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
About United Technologies Corporation
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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