SeaCrest Wealth Management LLC trimmed its stake in shares of United Technologies Co. (NYSE:UTX) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,345 shares of the conglomerate’s stock after selling 900 shares during the period. SeaCrest Wealth Management LLC’s holdings in United Technologies were worth $1,347,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Quad Cities Investment Group LLC grew its stake in United Technologies by 62.1% in the 2nd quarter. Quad Cities Investment Group LLC now owns 261 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 100 shares during the period. Massey Quick Simon & CO. LLC purchased a new stake in shares of United Technologies during the 1st quarter valued at $47,000. Sageworth Trust Co purchased a new stake in shares of United Technologies during the 1st quarter valued at $50,000. Canton Hathaway LLC grew its stake in shares of United Technologies by 625.5% during the 1st quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock valued at $51,000 after buying an additional 344 shares during the period. Finally, Murphy Pohlad Asset Management LLC purchased a new stake in shares of United Technologies during the 4th quarter valued at $56,000. Institutional investors own 80.79% of the company’s stock.
In other United Technologies news, EVP Elizabeth B. Amato sold 4,298 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $135.71, for a total value of $583,281.58. Following the transaction, the executive vice president now owns 30,847 shares in the company, valued at approximately $4,186,246.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. During the same quarter in the previous year, the business posted $1.97 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities research analysts forecast that United Technologies Co. will post 8.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.19%. United Technologies’s dividend payout ratio is currently 38.63%.
Several analysts have recently issued reports on the stock. Bank of America reissued a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of United Technologies in a research note on Thursday, July 25th. Barclays boosted their price objective on shares of United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Seaport Global Securities raised shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price objective for the company in a research note on Monday, June 10th. Cowen raised shares of United Technologies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $150.00 in a research note on Monday, June 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $159.00 price objective on shares of United Technologies in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $152.21.
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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