Blue Chip Wealth Management Inc. Buys New Stake in United Technologies Co. (UTX)

Blue Chip Wealth Management Inc. bought a new stake in shares of United Technologies Co. (NYSE:UTX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,587 shares of the conglomerate’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpha Cubed Investments LLC boosted its position in shares of United Technologies by 8.1% in the third quarter. Alpha Cubed Investments LLC now owns 152,767 shares of the conglomerate’s stock worth $19,658,000 after purchasing an additional 11,406 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of United Technologies by 17.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 222,485 shares of the conglomerate’s stock worth $31,105,000 after purchasing an additional 32,977 shares during the period. Oakworth Capital Inc. boosted its position in shares of United Technologies by 17.6% in the third quarter. Oakworth Capital Inc. now owns 3,929 shares of the conglomerate’s stock worth $550,000 after purchasing an additional 589 shares during the period. Carnick & Kubik Group LLC boosted its position in shares of United Technologies by 19.1% in the third quarter. Carnick & Kubik Group LLC now owns 13,710 shares of the conglomerate’s stock worth $1,917,000 after purchasing an additional 2,200 shares during the period. Finally, Middleton & Co Inc MA boosted its position in shares of United Technologies by 1.3% in the third quarter. Middleton & Co Inc MA now owns 91,715 shares of the conglomerate’s stock worth $12,823,000 after purchasing an additional 1,189 shares during the period. Institutional investors own 81.84% of the company’s stock.

Shares of NYSE:UTX opened at $121.09 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17. United Technologies Co. has a fifty-two week low of $115.40 and a fifty-two week high of $144.15. The firm has a market cap of $98.60 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.87 and a beta of 0.98.

United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The firm had revenue of $16.51 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. United Technologies’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts anticipate that United Technologies Co. will post 7.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a dividend of $0.735 per share. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.43%. United Technologies’s dividend payout ratio is currently 42.11%.

A number of research firms have weighed in on UTX. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada dropped their price target on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. ValuEngine lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Robert W. Baird upped their price target on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, September 20th. Finally, UBS Group began coverage on shares of United Technologies in a research report on Wednesday, August 15th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $151.90.

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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