Sheaff Brock Investment Advisors LLC Boosts Stake in United Technologies Corporation (NYSE:UTX)

Sheaff Brock Investment Advisors LLC raised its position in shares of United Technologies Corporation (NYSE:UTX) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,610 shares of the conglomerate’s stock after buying an additional 317 shares during the period. United Technologies Corporation comprises approximately 0.9% of Sheaff Brock Investment Advisors LLC’s investment portfolio, making the stock its 24th largest position. Sheaff Brock Investment Advisors LLC’s holdings in United Technologies Corporation were worth $6,801,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in United Technologies Corporation during the fourth quarter worth about $740,872,000. Putnam Investments LLC boosted its position in United Technologies Corporation by 248.3% in the fourth quarter. Putnam Investments LLC now owns 1,385,091 shares of the conglomerate’s stock worth $151,834,000 after buying an additional 987,378 shares in the last quarter. Viking Global Investors LP acquired a new position in United Technologies Corporation during the fourth quarter worth about $59,353,000. American Century Companies Inc. boosted its position in United Technologies Corporation by 15.8% in the first quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock worth $384,887,000 after buying an additional 468,515 shares in the last quarter. Finally, I.G. Investment Management LTD. boosted its position in United Technologies Corporation by 21.1% in the fourth quarter. I.G. Investment Management LTD. now owns 1,516,211 shares of the conglomerate’s stock worth $166,207,000 after buying an additional 264,565 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

United Technologies Corporation (NYSE UTX) opened at 122.63 on Wednesday. The company has a 50 day moving average price of $121.72 and a 200 day moving average price of $115.90. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The firm has a market capitalization of $98.25 billion, a price-to-earnings ratio of 19.10 and a beta of 1.07.

United Technologies Corporation (NYSE:UTX) last released its earnings results on Wednesday, April 26th. The conglomerate reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. United Technologies Corporation had a return on equity of 18.10% and a net margin of 9.10%. The business had revenue of $13.82 billion during the quarter, compared to analysts’ expectations of $13.50 billion. During the same quarter last year, the firm posted $1.47 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. Analysts anticipate that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Wednesday, August 16th. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio (DPR) is 41.19%.

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UTX has been the subject of a number of research reports. Royal Bank Of Canada lifted their price objective on United Technologies Corporation from $118.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 27th. Vetr lowered United Technologies Corporation from a “hold” rating to a “sell” rating and set a $108.06 price objective for the company. in a research report on Monday, March 27th. Cowen and Company lifted their price objective on United Technologies Corporation from $120.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, March 24th. Zacks Investment Research upgraded United Technologies Corporation from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research report on Monday, June 5th. Finally, Morgan Stanley lifted their price objective on United Technologies Corporation from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. United Technologies Corporation presently has a consensus rating of “Hold” and a consensus price target of $122.60.

In other United Technologies Corporation news, VP Robert J. Bailey sold 2,702 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total value of $322,970.06. Following the completion of the sale, the vice president now owns 5,000 shares of the company’s stock, valued at $597,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Philippe Delpech sold 7,696 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total value of $925,982.72. Following the completion of the sale, the insider now directly owns 63,621 shares of the company’s stock, valued at approximately $7,654,878.72. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

About United Technologies Corporation

United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.

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