Full Sail Capital LLC lowered its stake in shares of United Technologies Co. (NYSE:UTX) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,115 shares of the conglomerate’s stock after selling 535 shares during the period. Full Sail Capital LLC’s holdings in United Technologies were worth $402,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in UTX. Meridian Wealth Management LLC bought a new position in United Technologies in the 1st quarter valued at about $235,000. Belpointe Asset Management LLC increased its holdings in United Technologies by 5.3% in the 1st quarter. Belpointe Asset Management LLC now owns 9,187 shares of the conglomerate’s stock valued at $1,184,000 after buying an additional 466 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in United Technologies in the 1st quarter valued at about $491,000. Brick & Kyle Associates increased its holdings in United Technologies by 1.7% in the 1st quarter. Brick & Kyle Associates now owns 11,788 shares of the conglomerate’s stock valued at $1,519,000 after buying an additional 196 shares during the period. Finally, Broderick Brian C increased its holdings in United Technologies by 1.9% in the 1st quarter. Broderick Brian C now owns 53,025 shares of the conglomerate’s stock valued at $6,833,000 after buying an additional 966 shares during the period. 80.67% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on UTX. Seaport Global Securities began coverage on shares of United Technologies in a report on Friday, May 10th. They issued a “neutral” rating and a $136.86 target price on the stock. William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Monday, June 10th. JPMorgan Chase & Co. initiated coverage on shares of United Technologies in a report on Friday, February 22nd. They set an “overweight” rating and a $132.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a report on Wednesday, April 24th. Finally, Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $149.86.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.20. The company had revenue of $18.37 billion for the quarter, compared to the consensus estimate of $18.01 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. United Technologies’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 EPS. Sell-side analysts expect that United Technologies Co. will post 7.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.35%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.
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United Technologies 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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