Somerset Trust Co cut its stake in United Technologies Co. (NYSE:UTX) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,805 shares of the conglomerate’s stock after selling 750 shares during the period. United Technologies makes up approximately 2.3% of Somerset Trust Co’s holdings, making the stock its 6th biggest position. Somerset Trust Co’s holdings in United Technologies were worth $4,568,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Knowledge Leaders Capital LLC bought a new position in shares of United Technologies during the 3rd quarter worth about $105,000. Tortoise Investment Management LLC lifted its holdings in shares of United Technologies by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after acquiring an additional 48 shares during the period. Wealthcare Advisory Partners LLC bought a new position in shares of United Technologies during the 3rd quarter worth about $118,000. Thompson Davis & CO. Inc. lifted its holdings in shares of United Technologies by 750.4% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 1,080 shares of the conglomerate’s stock worth $125,000 after acquiring an additional 953 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of United Technologies by 3.8% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,090 shares of the conglomerate’s stock worth $133,000 after acquiring an additional 40 shares during the period. 79.54% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Elizabeth B. Amato sold 4,341 shares of United Technologies stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $125.92, for a total transaction of $546,618.72. Following the completion of the sale, the executive vice president now owns 29,122 shares in the company, valued at approximately $3,667,042.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Akhil Johri sold 5,979 shares of United Technologies stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $121.03, for a total transaction of $723,638.37. Following the sale, the vice president now owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. Insiders sold a total of 13,480 shares of company stock valued at $1,658,028 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.04. The firm had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $15.34 billion. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.56 EPS. equities research analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 16th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, February 15th. United Technologies’s payout ratio is presently 49.12%.
Several equities analysts recently issued reports on the stock. Royal Bank of Canada raised shares of United Technologies from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Robert W. Baird raised shares of United Technologies from a “neutral” rating to an “outperform” rating in a report on Friday, January 5th. Atlantic Securities raised shares of United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Finally, Cowen reissued a “hold” rating and set a $120.00 price target on shares of United Technologies in a report on Friday, November 10th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. United Technologies has an average rating of “Buy” and a consensus price target of $137.07.
United Technologies Company Profile
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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