Cypress Asset Management Inc. TX reduced its stake in United Technologies Co. (NYSE:UTX) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,375 shares of the conglomerate’s stock after selling 1,330 shares during the quarter. United Technologies makes up approximately 1.5% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 20th biggest position. Cypress Asset Management Inc. TX’s holdings in United Technologies were worth $4,549,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. Accurate Investment Solutions Inc. purchased a new stake in United Technologies in the 4th quarter worth $30,000. Savior LLC purchased a new position in shares of United Technologies during the fourth quarter valued at about $32,000. Lighthouse Financial Advisors Inc. purchased a new position in shares of United Technologies during the fourth quarter valued at about $36,000. Manchester Financial Inc. purchased a new position in shares of United Technologies during the fourth quarter valued at about $40,000. Finally, Massey Quick Simon & CO. LLC grew its position in shares of United Technologies by 1,500.0% during the third quarter. Massey Quick Simon & CO. LLC now owns 320 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 300 shares in the last quarter. 80.94% of the stock is currently owned by institutional investors.
UTX traded down $0.04 on Friday, hitting $153.02. The company had a trading volume of 40,712 shares, compared to its average volume of 3,849,656. The company has a market cap of $135.46 billion, a PE ratio of 23.86, a PEG ratio of 2.29 and a beta of 1.24. United Technologies Co. has a 12-month low of $121.48 and a 12-month high of $158.44. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The business’s fifty day simple moving average is $152.90 and its 200 day simple moving average is $142.18.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 14th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, February 13th. United Technologies’s payout ratio is currently 35.59%.
A number of research analysts have recently weighed in on the company. Argus restated a “buy” rating and set a $170.00 price objective on shares of United Technologies in a research report on Wednesday, January 29th. Benchmark started coverage on United Technologies in a research report on Friday, January 31st. They issued a “buy” rating and a $186.00 price target for the company. Credit Suisse Group lifted their price target on United Technologies from $174.00 to $176.00 and gave the stock an “outperform” rating in a research report on Tuesday. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 28th. Finally, Cowen started coverage on United Technologies in a research report on Tuesday, January 28th. They issued a “buy” rating and a $169.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $164.53.
United Technologies Company 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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