Valmark Advisers Inc. reduced its position in United Technologies Co. (NYSE:UTX) by 46.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,498 shares of the conglomerate’s stock after selling 3,841 shares during the period. Valmark Advisers Inc.’s holdings in United Technologies were worth $479,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Guidant Wealth Advisors increased its stake in shares of United Technologies by 64.9% in the 4th quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of United Technologies in the 4th quarter worth $51,000. Glassman Wealth Services increased its stake in shares of United Technologies by 297.9% in the 4th quarter. Glassman Wealth Services now owns 561 shares of the conglomerate’s stock worth $60,000 after purchasing an additional 420 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of United Technologies in the 4th quarter worth $64,000. Finally, Tributary Capital Management LLC purchased a new stake in shares of United Technologies in the 4th quarter worth $69,000. Institutional investors own 80.09% of the company’s stock.
In related news, EVP Michael R. Dumais sold 9,620 shares of the company’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total value of $1,145,934.40. Following the completion of the transaction, the executive vice president now owns 35,627 shares of the company’s stock, valued at approximately $4,243,888.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert Kelly Ortberg sold 16,587 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $126.59, for a total transaction of $2,099,748.33. Following the transaction, the chief executive officer now directly owns 70,211 shares of the company’s stock, valued at approximately $8,888,010.49. The disclosure for this sale can be found here. Insiders sold a total of 96,352 shares of company stock valued at $11,974,093 in the last ninety days. 0.17% of the stock is currently owned by insiders.
Several equities research analysts have recently commented on UTX shares. Goldman Sachs Group upgraded United Technologies from a “buy” rating to a “conviction-buy” rating and set a $153.00 price objective for the company in a research note on Friday, February 1st. Jefferies Financial Group set a $148.00 price objective on United Technologies and gave the stock a “buy” rating in a research note on Tuesday, November 27th. OTR Global lowered United Technologies to a “positive” rating in a research note on Friday, January 18th. Bank of America restated a “buy” rating and issued a $185.00 price objective on shares of United Technologies in a research note on Thursday, January 24th. Finally, Barclays reduced their price objective on United Technologies from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, January 11th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. United Technologies presently has an average rating of “Buy” and a consensus target price of $143.08.
Shares of United Technologies stock opened at $125.92 on Friday. The firm has a market capitalization of $108.51 billion, a P/E ratio of 16.55, a PEG ratio of 1.79 and a beta of 1.20. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 1.01. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.15.
United Technologies (NYSE:UTX) last issued its earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.42. The company had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $16.87 billion. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. United Technologies’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 EPS. On average, sell-side analysts forecast that United Technologies Co. will post 7.93 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Sunday, March 10th. Investors of record on Friday, February 15th were issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 14th. United Technologies’s dividend payout ratio is currently 38.63%.
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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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