Cypress Capital Management LLC raised its stake in United Technologies Co. (NYSE:UTX) by 1.1% in the first quarter, HoldingsChannel.com reports. The firm owned 86,661 shares of the conglomerate’s stock after acquiring an additional 905 shares during the period. United Technologies makes up approximately 2.1% of Cypress Capital Management LLC’s holdings, making the stock its 16th largest holding. Cypress Capital Management LLC’s holdings in United Technologies were worth $10,904,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Almanack Investment Partners LLC. bought a new stake in United Technologies in the 4th quarter valued at $103,000. Wealthcare Advisory Partners LLC acquired a new position in shares of United Technologies in the 3rd quarter valued at $118,000. Taylor Hoffman Wealth Management acquired a new position in shares of United Technologies in the 4th quarter valued at $140,000. Trustcore Financial Services LLC acquired a new position in shares of United Technologies in the 4th quarter valued at $143,000. Finally, First Dallas Securities Inc. acquired a new position in shares of United Technologies in the 4th quarter valued at $148,000. 81.96% of the stock is owned by hedge funds and other institutional investors.
UTX opened at $124.48 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $98.50 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.90 and a beta of 1.09. United Technologies Co. has a 1-year low of $109.10 and a 1-year high of $139.24.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.26. The firm had revenue of $15.24 billion during the quarter, compared to analysts’ expectations of $14.62 billion. United Technologies had a net margin of 7.28% and a return on equity of 17.67%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.48 EPS. equities research analysts forecast that United Technologies Co. will post 7.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Shareholders of record on Friday, May 18th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, May 17th. United Technologies’s payout ratio is presently 42.11%.
UTX has been the subject of a number of recent research reports. Cowen restated a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a research note on Saturday, January 20th. Barclays initiated coverage on shares of United Technologies in a research note on Thursday, February 15th. They issued an “overweight” rating and a $157.00 price objective for the company. Daiwa Capital Markets upgraded shares of United Technologies from a “hold” rating to an “outperform” rating in a research note on Tuesday, May 8th. Finally, ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $138.21.
In related news, Director Fredric G. Reynolds acquired 9,000 shares of the stock in a transaction on Friday, April 27th. The stock was purchased at an average price of $121.58 per share, for a total transaction of $1,094,220.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert J. Mcdonough sold 10,770 shares of the firm’s stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $119.09, for a total transaction of $1,282,599.30. Following the completion of the sale, the insider now owns 40,612 shares of the company’s stock, valued at approximately $4,836,483.08. The disclosure for this sale can be found here. Insiders sold a total of 19,778 shares of company stock valued at $2,425,001 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.
United Technologies Profile
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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