Verity & Verity LLC raised its position in United Technologies Co. (NYSE:UTX) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,994 shares of the conglomerate’s stock after purchasing an additional 1,073 shares during the quarter. United Technologies accounts for approximately 2.3% of Verity & Verity LLC’s holdings, making the stock its 10th biggest holding. Verity & Verity LLC’s holdings in United Technologies were worth $10,688,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Phocas Financial Corp. purchased a new stake in United Technologies in the 2nd quarter worth about $25,000. Krane Funds Advisors LLC purchased a new stake in United Technologies in the 2nd quarter worth about $26,000. Transamerica Financial Advisors Inc. purchased a new stake in United Technologies in the 2nd quarter worth about $30,000. American National Bank purchased a new stake in United Technologies in the 3rd quarter worth about $34,000. Finally, Financial Management Professionals Inc. raised its position in United Technologies by 3,600.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 259 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 252 shares during the period. 80.68% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 target price on the stock. in a research report on Friday, July 19th. Credit Suisse Group assumed coverage on shares of United Technologies in a research report on Thursday, October 3rd. They set an “outperform” rating and a $164.00 target price on the stock. Bank of America reaffirmed a “buy” rating and set a $195.00 target price (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. Wolfe Research set a $152.00 target price on shares of United Technologies and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Barclays raised their target price on shares of United Technologies from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. 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 stock. The stock presently has an average rating of “Buy” and an average price target of $154.81.
In other United Technologies news, VP Charles D. Gill sold 26,542 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $131.42, for a total value of $3,488,149.64. Following the completion of the sale, the vice president now directly owns 103,458 shares in the company, valued at $13,596,450.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert J. Bailey sold 831 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $135.09, for a total transaction of $112,259.79. Following the completion of the sale, the vice president now owns 2,000 shares of the company’s stock, valued at $270,180. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,123 shares of company stock worth $13,787,015. Insiders own 0.15% of the company’s stock.
Shares of NYSE UTX traded up $2.23 during midday trading on Friday, reaching $136.15. 3,052,051 shares of the company’s stock traded hands, compared to its average volume of 3,550,509. The company has a quick ratio of 0.74, a current ratio of 1.05 and a debt-to-equity ratio of 0.93. The stock’s 50 day simple moving average is $132.76 and its 200-day simple moving average is $132.21. United Technologies Co. has a one year low of $100.48 and a one year high of $144.40. The company has a market cap of $115.56 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 2.28 and a beta of 1.21.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The firm had revenue of $19.63 billion for the quarter, compared to the consensus estimate of $19.58 billion. During the same period last year, the firm earned $1.97 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Equities analysts predict that United Technologies Co. will post 8.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.16%. United Technologies’s dividend payout ratio is presently 38.63%.
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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