Westbourne Investment Advisors Inc. boosted its stake in United Technologies Co. (NYSE:UTX) by 27.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,595 shares of the conglomerate’s stock after acquiring an additional 2,065 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in United Technologies were worth $1,207,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. acquired a new stake in United Technologies during the 4th quarter worth $103,000. Wealthcare Advisory Partners LLC acquired a new stake in United Technologies during the 3rd quarter worth $118,000. Taylor Hoffman Wealth Management acquired a new stake in United Technologies during the 4th quarter worth $140,000. Trustcore Financial Services LLC acquired a new stake in United Technologies during the 4th quarter worth $143,000. Finally, First Dallas Securities Inc. acquired a new stake in United Technologies during the 4th quarter worth $148,000. 81.45% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of United Technologies from a “hold” rating to a “sell” rating in a research note on Friday, April 13th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $146.00 price target (up previously from $124.00) on shares of United Technologies in a report on Thursday, January 25th. Cowen reiterated a “hold” rating and set a $141.00 price target on shares of United Technologies in a report on Thursday, January 25th. Finally, UBS started coverage on United Technologies in a report on Tuesday, January 23rd. They set a “buy” rating and a $158.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $138.21.
In related news, VP Robert J. Bailey sold 2,032 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $134.95, for a total value of $274,218.40. Following the sale, the vice president now directly owns 4,900 shares in the company, valued at approximately $661,255. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 419 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $133.73, for a total transaction of $56,032.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,778 shares of company stock worth $2,425,001. 0.17% of the stock is owned by insiders.
Shares of UTX opened at $124.64 on Friday. The stock has a market capitalization of $99.83 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.92 and a beta of 1.09. United Technologies Co. has a 12-month low of $124.13 and a 12-month high of $124.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.32.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, April 24th. The conglomerate reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.26. The firm had revenue of $15.24 billion for 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%. United Technologies’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. analysts expect that United Technologies Co. will post 7.13 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Investors of record on Friday, May 18th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $2.80 annualized dividend and a yield of 2.25%. United Technologies’s dividend payout ratio (DPR) is currently 42.11%.
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.
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