United Technologies Co. (UTX) Stake Lifted by Patriot Wealth Management Inc.
Patriot Wealth Management Inc. grew its holdings in United Technologies Co. (NYSE:UTX) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,285 shares of the conglomerate’s stock after purchasing an additional 1,005 shares during the quarter. Patriot Wealth Management Inc.’s holdings in United Technologies were worth $7,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Rowland & Co. Investment Counsel ADV raised its stake in United Technologies by 0.3% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 1,167 shares of the conglomerate’s stock worth $143,000 after buying an additional 3 shares during the period. Jackson Grant Investment Advisers Inc. raised its stake in United Technologies by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock worth $218,000 after buying an additional 8 shares during the period. Mosaic Family Wealth LLC raised its stake in United Technologies by 0.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 4,357 shares of the conglomerate’s stock worth $532,000 after buying an additional 14 shares during the period. Hudock Capital Group LLC raised its stake in United Technologies by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 3,705 shares of the conglomerate’s stock worth $452,000 after buying an additional 15 shares during the period. Finally, Laurel Wealth Advisors Inc. raised its stake in United Technologies by 0.3% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 5,943 shares of the conglomerate’s stock worth $725,000 after buying an additional 18 shares during the period. 79.87% of the stock is currently owned by institutional investors.
UTX has been the topic of a number of research reports. Royal Bank of Canada raised United Technologies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a research note on Friday, January 5th. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, December 5th. Finally, Cowen reaffirmed a “hold” rating and set a $120.00 price target on shares of United Technologies in a research note on Friday, November 10th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. United Technologies has a consensus rating of “Buy” and an average target price of $136.15.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.04. The firm had revenue of $15.68 billion during the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.56 EPS. sell-side analysts predict that United Technologies Co. will post 7.01 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 issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, February 15th. United Technologies’s dividend payout ratio is currently 49.12%.
In other news, VP Robert J. Bailey sold 864 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $126.01, for a total value of $108,872.64. Following the completion of the transaction, the vice president now directly owns 2,000 shares of the company’s stock, valued at $252,020. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert J. Bailey sold 636 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $124.35, for a total value of $79,086.60. Following the completion of the transaction, the vice president now directly owns 1,500 shares of the company’s stock, valued at $186,525. The disclosure for this sale can be found here. Insiders have sold a total of 13,480 shares of company stock valued at $1,658,028 over the last three months. Corporate insiders own 0.16% of the company’s stock.
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About United Technologies
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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