Guyasuta Investment Advisors Inc. reduced its holdings in United Technologies Corporation (NYSE:UTX) by 12.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,271 shares of the conglomerate’s stock after selling 1,150 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in United Technologies were worth $1,010,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alexandria Capital LLC increased its position in shares of United Technologies by 0.3% during the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after purchasing an additional 3 shares during the period. TCI Wealth Advisors Inc. increased its position in shares of United Technologies by 0.3% during the 1st quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock valued at $281,000 after purchasing an additional 7 shares during the period. Kissinger Financial Services LLC increased its position in shares of United Technologies by 0.5% during the 2nd quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock valued at $256,000 after purchasing an additional 11 shares during the period. Baystate Wealth Management LLC increased its position in shares of United Technologies by 0.5% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,262 shares of the conglomerate’s stock valued at $279,000 after purchasing an additional 11 shares during the period. Finally, Vigilant Capital Management LLC increased its position in shares of United Technologies by 0.7% during the 2nd quarter. Vigilant Capital Management LLC now owns 1,891 shares of the conglomerate’s stock valued at $231,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 78.33% of the company’s stock.
In related news, EVP Michael R. Dumais sold 2,986 shares of United Technologies stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.
Several brokerages have recently issued reports on UTX. BidaskClub upgraded United Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Cowen Inc restated a “hold” rating and issued a $120.00 target price on shares of United Technologies in a report on Tuesday, October 24th. Stifel Nicolaus lifted their target price on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $126.00 target price on shares of United Technologies in a report on Tuesday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. United Technologies presently has an average rating of “Hold” and a consensus target price of $125.15.
Shares of United Technologies Corporation (UTX) traded up $0.24 during trading on Monday, hitting $117.15. The stock had a trading volume of 689,833 shares, compared to its average volume of 3,029,279. The firm has a market capitalization of $93,360.82, a PE ratio of 17.66, a PEG ratio of 2.11 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 1-year low of $106.85 and a 1-year high of $124.79.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. United Technologies’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.76 earnings per share. research analysts anticipate that United Technologies Corporation will post 6.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.39%. United Technologies’s payout ratio is 43.41%.
About United Technologies
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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