IMA Wealth Inc. grew its position in United Technologies Co. (NYSE:UTX) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,235 shares of the conglomerate’s stock after purchasing an additional 920 shares during the period. IMA Wealth Inc.’s holdings in United Technologies were worth $1,431,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of UTX. Credit Agricole S A boosted its holdings in shares of United Technologies by 101.4% in the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after acquiring an additional 436 shares in the last quarter. Jolley Asset Management LLC bought a new position in shares of United Technologies in the second quarter valued at approximately $114,000. Fort L.P. bought a new position in shares of United Technologies in the second quarter valued at approximately $120,000. WP Advisors LLC bought a new position in shares of United Technologies in the second quarter valued at approximately $126,000. Finally, Kiley Juergens Wealth Management LLC bought a new position in shares of United Technologies in the second quarter valued at approximately $127,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.
UTX stock opened at $128.68 on Friday. United Technologies Co. has a 12 month low of $115.40 and a 12 month high of $144.15. The company has a market cap of $104.07 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.82.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, July 24th. The conglomerate reported $1.97 EPS for the quarter, beating the consensus estimate of $1.85 by $0.12. United Technologies had a net margin of 8.09% and a return on equity of 17.53%. The business had revenue of $16.71 billion during the quarter, compared to analyst estimates of $16.26 billion. During the same period in the prior year, the business earned $1.85 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts predict that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Thursday, November 15th. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 annualized dividend and a yield of 2.28%. United Technologies’s dividend payout ratio is currently 42.11%.
Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Friday, October 12th. Robert W. Baird increased their price objective on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, September 20th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. UBS Group assumed coverage on shares of United Technologies in a report on Wednesday, August 15th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the company a “buy” rating in a report on Tuesday, July 10th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $149.70.
In related news, VP Robert J. Bailey sold 828 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $134.75, for a total transaction of $111,573.00. Following the completion of the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at $269,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akhil Johri sold 3,428 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $135.82, for a total transaction of $465,590.96. Following the completion of the sale, the chief financial officer now owns 43,403 shares of the company’s stock, valued at approximately $5,894,995.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,511 shares of company stock valued at $2,521,974. Company 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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