Mount Yale Investment Advisors LLC Buys Shares of 12,710 United Technologies Co. (UTX)

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Mount Yale Investment Advisors LLC bought a new stake in United Technologies Co. (NYSE:UTX) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,710 shares of the conglomerate’s stock, valued at approximately $1,599,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Almanack Investment Partners LLC. acquired a new stake in United Technologies during the 4th quarter worth approximately $103,000. Silvant Capital Management LLC acquired a new stake in United Technologies during the 1st quarter worth approximately $113,000. Centerpoint Advisors LLC acquired a new stake in United Technologies during the 1st quarter worth approximately $131,000. Taylor Hoffman Wealth Management acquired a new stake in United Technologies during the 4th quarter worth approximately $140,000. Finally, Trustcore Financial Services LLC acquired a new stake in United Technologies during the 4th quarter worth approximately $143,000. 81.57% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Akhil Johri sold 6,259 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $128.30, for a total value of $803,029.70. Following the completion of the transaction, the chief financial officer now directly owns 47,088 shares of the company’s stock, valued at approximately $6,041,390.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles D. Gill sold 9,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $128.47, for a total value of $1,246,159.00. Following the completion of the transaction, the vice president now directly owns 25,029 shares of the company’s stock, valued at $3,215,475.63. The disclosure for this sale can be found here. Insiders sold a total of 33,286 shares of company stock valued at $4,143,938 over the last ninety days. 0.17% of the stock is currently owned by company insiders.

UTX has been the subject of a number of recent research reports. Barclays increased their price objective on United Technologies from $157.00 to $159.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. UBS Group set a $155.00 price objective on United Technologies and gave the stock a “buy” rating in a research report on Thursday, March 15th. Zacks Investment Research cut United Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 13th. Cowen reaffirmed a “hold” rating and set a $141.00 price objective on shares of United Technologies in a research report on Tuesday, April 24th. Finally, Stifel Nicolaus decreased their price objective on United Technologies from $131.00 to $127.00 and set a “hold” rating for the company in a research report on Wednesday, April 25th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $140.31.

UTX opened at $124.61 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $99.90 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. United Technologies Co. has a 12 month low of $109.10 and a 12 month high of $139.24.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $1.77 EPS for the quarter, beating the consensus estimate of $1.51 by $0.26. The business had revenue of $15.24 billion during the quarter, compared to analysts’ expectations of $14.62 billion. United Technologies had a return on equity of 17.67% and a net margin of 7.28%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. research analysts forecast that United Technologies Co. will post 7.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.25%. United Technologies’s dividend payout ratio is currently 42.11%.

About United Technologies

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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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