Cetera Investment Advisers Cuts Stake in United Technologies Co. (UTX)
Cetera Investment Advisers decreased its position in shares of United Technologies Co. (NYSE:UTX) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,153 shares of the conglomerate’s stock after selling 76 shares during the quarter. Cetera Investment Advisers’ holdings in United Technologies were worth $751,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Tortoise Investment Management LLC lifted its holdings in 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 purchasing an additional 48 shares in the last quarter. Seven Bridges Advisors LLC purchased a new stake in United Technologies during the 2nd quarter worth about $120,000. Winfield Associates Inc. lifted its holdings in United Technologies by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in United Technologies during the 2nd quarter worth about $131,000. Finally, Alexandria Capital LLC lifted its holdings in United Technologies by 0.3% during the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after purchasing an additional 3 shares in the last quarter. Institutional investors own 80.20% of the company’s stock.
A number of brokerages recently issued reports on UTX. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Royal Bank of Canada set a $126.00 price objective on United Technologies and gave the stock a “hold” rating in a report on Sunday, November 12th. Cowen reissued a “hold” rating and set a $120.00 price objective on shares of United Technologies in a report on Friday, November 10th. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Stifel Nicolaus increased their price objective on United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $125.63.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter last year, the firm posted $1.76 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. equities analysts expect that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.25%. United Technologies’s payout ratio is currently 43.41%.
In related news, VP Akhil Johri sold 5,979 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $121.03, for a total transaction of $723,638.37. Following the transaction, the vice president now directly owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,625 shares of company stock worth $1,284,696. 0.16% of the stock is currently owned by insiders.
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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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