TCI Wealth Advisors Inc. raised its position in United Technologies Corporation (NYSE:UTX) by 0.3% during the first quarter, Holdings Channel reports. The institutional investor owned 2,501 shares of the conglomerate’s stock after buying an additional 7 shares during the period. TCI Wealth Advisors Inc.’s holdings in United Technologies Corporation were worth $281,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of UTX. Mutual of Omaha Bank Wealth Management acquired a new position in United Technologies Corporation during the first quarter worth approximately $202,000. Patriot Financial Group Insurance Agency LLC acquired a new position in United Technologies Corporation during the fourth quarter worth approximately $198,000. American National Bank raised its position in United Technologies Corporation by 154.5% in the first quarter. American National Bank now owns 1,845 shares of the conglomerate’s stock worth $207,000 after buying an additional 1,120 shares in the last quarter. TNB Financial acquired a new position in United Technologies Corporation during the first quarter worth approximately $957,000. Finally, TRUE Private Wealth Advisors raised its position in United Technologies Corporation by 34.5% in the first quarter. TRUE Private Wealth Advisors now owns 3,356 shares of the conglomerate’s stock worth $379,000 after buying an additional 861 shares in the last quarter. 78.45% of the stock is currently owned by institutional investors.
United Technologies Corporation (NYSE UTX) opened at 118.87 on Monday. The firm has a 50-day moving average price of $121.79 and a 200 day moving average price of $116.37. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The firm has a market cap of $93.79 billion, a price-to-earnings ratio of 18.11 and a beta of 1.07.
United Technologies Corporation (NYSE:UTX) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The firm had revenue of $15.28 billion for the quarter, compared to the consensus estimate of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 EPS. Equities analysts predict that United Technologies Corporation will post $6.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders 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 dividend yield of 2.36%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s payout ratio is currently 40.24%.
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UTX has been the topic of a number of recent analyst reports. Credit Suisse Group reissued a “buy” rating and issued a $136.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, July 26th. BidaskClub raised United Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research raised United Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $138.00 price target (up previously from $132.00) on shares of United Technologies Corporation in a research note on Monday, July 10th. Finally, Royal Bank Of Canada reaffirmed a “neutral” rating on shares of United Technologies Corporation in a research note on Thursday, April 27th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $123.54.
In other news, insider Philippe Delpech sold 7,696 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $120.32, for a total value of $925,982.72. Following the transaction, the insider now directly owns 63,621 shares of the company’s stock, valued at approximately $7,654,878.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert J. Bailey sold 2,702 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $119.53, for a total value of $322,970.06. Following the completion of the transaction, the vice president now directly owns 5,000 shares in the company, valued at $597,650. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.
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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