Garland Capital Management Inc. decreased its position in shares of United Technologies Co. (NYSE:UTX) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,340 shares of the conglomerate’s stock after selling 345 shares during the period. United Technologies accounts for approximately 3.8% of Garland Capital Management Inc.’s portfolio, making the stock its 7th biggest holding. Garland Capital Management Inc.’s holdings in United Technologies were worth $5,371,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Bridge LLC grew its stake in shares of United Technologies by 2.7% in the 1st quarter. Legacy Bridge LLC now owns 4,968 shares of the conglomerate’s stock valued at $640,000 after purchasing an additional 130 shares during the last quarter. Altium Wealth Management LLC grew its stake in shares of United Technologies by 6.5% in the 1st quarter. Altium Wealth Management LLC now owns 10,247 shares of the conglomerate’s stock valued at $1,321,000 after purchasing an additional 627 shares during the last quarter. Inlet Private Wealth LLC grew its stake in shares of United Technologies by 24.5% in the 1st quarter. Inlet Private Wealth LLC now owns 2,880 shares of the conglomerate’s stock valued at $371,000 after purchasing an additional 566 shares during the last quarter. OLD Point Trust & Financial Services N A grew its stake in shares of United Technologies by 3.8% in the 1st quarter. OLD Point Trust & Financial Services N A now owns 8,175 shares of the conglomerate’s stock valued at $1,053,000 after purchasing an additional 300 shares during the last quarter. Finally, World Asset Management Inc grew its stake in shares of United Technologies by 14.4% in the 1st quarter. World Asset Management Inc now owns 56,294 shares of the conglomerate’s stock valued at $7,256,000 after purchasing an additional 7,071 shares during the last quarter. 80.68% of the stock is currently owned by institutional investors.
Shares of United Technologies stock traded up $2.02 during trading on Thursday, reaching $133.98. The company’s stock had a trading volume of 238,636 shares, compared to its average volume of 2,691,754. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40. The company has a market capitalization of $114.50 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21. The business has a 50 day moving average price of $132.63 and a 200-day moving average price of $132.17.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the previous year, the business earned $1.97 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. Research analysts predict that United Technologies Co. will post 8.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.19%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.
Several research analysts have weighed in on the company. Wolfe Research set a $152.00 target price on United Technologies and gave the company a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lifted their target price on United Technologies from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Thursday. William Blair reiterated a “hold” rating on shares of United Technologies in a research note on Tuesday, September 3rd. Zacks Investment Research downgraded United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price on the stock. in a research note on Friday, July 19th. Finally, Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Friday, June 14th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $154.81.
In related news, VP Charles D. Gill sold 33,763 shares of United Technologies stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $135.04, for a total value of $4,559,355.52. Following the sale, the vice president now directly owns 112,458 shares in the company, valued at $15,186,328.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 831 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.09, for a total value of $112,259.79. Following the sale, the vice president now owns 2,000 shares in the company, valued at $270,180. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,123 shares of company stock worth $13,787,015. Company insiders own 0.15% 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.
See Also: Return on Equity (ROE)
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