Baystate Wealth Management LLC decreased its stake in United Technologies Co. (NYSE:UTX) by 18.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,196 shares of the conglomerate’s stock after selling 501 shares during the period. Baystate Wealth Management LLC’s holdings in United Technologies were worth $297,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in UTX. Knowledge Leaders Capital LLC bought a new position in United Technologies during the third quarter worth about $105,000. Tortoise Investment Management LLC grew its holdings in United Technologies by 5.3% during the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares during the period. Wealthcare Advisory Partners LLC bought a new position in United Technologies during the third quarter worth about $118,000. Thompson Davis & CO. Inc. grew its holdings in United Technologies by 750.4% during the third quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after purchasing an additional 953 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its holdings in United Technologies by 3.8% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock worth $133,000 after purchasing an additional 40 shares during the period. Institutional investors own 79.54% of the company’s stock.
Shares of United Technologies Co. (NYSE:UTX) opened at $133.15 on Friday. United Technologies Co. has a 1-year low of $107.05 and a 1-year high of $139.24. The stock has a market capitalization of $106,490.00, a P/E ratio of 20.30, a PEG ratio of 2.13 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. equities research analysts expect that United Technologies Co. will post 7.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Friday, February 16th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.10%. United Technologies’s payout ratio is 42.68%.
In other news, VP Akhil Johri sold 5,979 shares of United Technologies stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the completion of the sale, the vice president now directly owns 23,295 shares in the company, valued at $2,819,393.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 419 shares of United Technologies stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total transaction of $56,032.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,899 shares of company stock valued at $1,714,061. 0.16% of the stock is owned by company insiders.
A number of equities analysts recently commented on UTX shares. Atlantic Securities upgraded United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Goldman Sachs Group upgraded United Technologies from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Robert W. Baird upgraded United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Cowen reiterated a “hold” rating and set a $141.00 price target on shares of United Technologies in a report on Thursday, January 25th. Finally, Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a report on Saturday, January 20th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $137.07.
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United Technologies Profile
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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