Domani Wealth LLC raised its holdings in United Technologies Co. (NYSE:UTX) by 4.0% in the third quarter, Holdings Channel reports. The fund owned 5,149 shares of the conglomerate’s stock after acquiring an additional 200 shares during the period. Domani Wealth LLC’s holdings in United Technologies were worth $703,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Phocas Financial Corp. acquired a new position in United Technologies in the second quarter valued at about $25,000. Krane Funds Advisors LLC acquired a new position in United Technologies in the second quarter valued at about $26,000. Transamerica Financial Advisors Inc. acquired a new position in United Technologies in the second quarter valued at about $30,000. American National Bank acquired a new position in United Technologies in the third quarter valued at about $34,000. Finally, Quad Cities Investment Group LLC grew its stake in United Technologies by 62.1% in the second quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 100 shares during the period. 80.68% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on UTX shares. Zacks Investment Research cut United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price objective for the company. in a research report on Friday, July 19th. JPMorgan Chase & Co. upped their price objective on United Technologies from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday. Wolfe Research set a $152.00 price objective on United Technologies and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of United Technologies in a research report on Wednesday, September 4th. Finally, William Blair reaffirmed a “hold” rating on shares of United Technologies in a research report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. United Technologies has a consensus rating of “Buy” and an average target price of $154.81.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 EPS for the quarter, beating the consensus estimate of $2.04 by $0.16. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The firm had revenue of $19.63 billion during the quarter, compared to analysts’ expectations of $19.58 billion. During the same period in the prior year, the firm posted $1.97 earnings per share. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. Analysts predict that United Technologies Co. will post 8.03 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.16%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.
In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $135.71, for a total value of $583,281.58. Following the sale, the executive vice president now owns 30,847 shares in the company, valued at $4,186,246.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael R. Dumais sold 4,329 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $130.98, for a total value of $567,012.42. Following the completion of the sale, the executive vice president now owns 39,265 shares in the company, valued at approximately $5,142,929.70. The disclosure for this sale can be found here. Insiders have sold 103,123 shares of company stock valued at $13,787,015 over the last three months. Insiders own 0.15% of the company’s stock.
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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