Tyers Asset Management LLC trimmed its holdings in United Technologies Co. (NYSE:UTX) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,520 shares of the conglomerate’s stock after selling 2,442 shares during the quarter. Tyers Asset Management LLC’s holdings in United Technologies were worth $14,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Buckley Wealth Management LLC increased its holdings in United Technologies by 9.0% during the 1st quarter. Buckley Wealth Management LLC now owns 19,736 shares of the conglomerate’s stock worth $2,483,000 after purchasing an additional 1,637 shares in the last quarter. Fagan Associates Inc. grew its holdings in shares of United Technologies by 3.1% in the first quarter. Fagan Associates Inc. now owns 31,865 shares of the conglomerate’s stock valued at $4,009,000 after acquiring an additional 970 shares in the last quarter. Harwood Advisory Group LLC bought a new position in shares of United Technologies in the first quarter valued at approximately $327,000. Meridian Wealth Management LLC grew its holdings in shares of United Technologies by 50.4% in the first quarter. Meridian Wealth Management LLC now owns 3,155 shares of the conglomerate’s stock valued at $397,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of United Technologies by 11.9% in the first quarter. Signaturefd LLC now owns 5,947 shares of the conglomerate’s stock valued at $748,000 after acquiring an additional 634 shares in the last quarter. 82.20% of the stock is currently owned by institutional investors.
In other United Technologies news, insider Robert J. Mcdonough sold 10,770 shares of United Technologies stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $119.09, for a total value of $1,282,599.30. Following the completion of the sale, the insider now owns 40,612 shares of the company’s stock, valued at approximately $4,836,483.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert J. Bailey sold 2,032 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $134.95, for a total transaction of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares of the company’s stock, valued at approximately $661,255. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,778 shares of company stock valued at $2,425,001. 0.17% of the stock is currently owned by insiders.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.26. The firm had revenue of $15.24 billion during the quarter, compared to analyst estimates of $14.62 billion. United Technologies had a net margin of 7.28% and a return on equity of 17.67%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $1.48 earnings per share. sell-side analysts predict that United Technologies Co. will post 7.13 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Friday, May 18th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, May 17th. United Technologies’s dividend payout ratio (DPR) is currently 42.11%.
Several equities research analysts have issued reports on the company. Barclays increased their target price on United Technologies from $157.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. UBS set a $155.00 target price on United Technologies and gave the company a “buy” rating in a research note on Thursday, March 15th. Sanford C. Bernstein reissued a “positive” rating and issued a $153.00 target price (up previously from $135.00) on shares of United Technologies in a research note on Tuesday, January 30th. Finally, Daiwa Capital Markets raised United Technologies from a “hold” rating to an “outperform” rating in a research note on Tuesday, May 8th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $138.21.
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.
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.