Strategic Financial Services Inc Sells 3,739 Shares of United Technologies Co. (UTX)

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Strategic Financial Services Inc cut its stake in shares of United Technologies Co. (NYSE:UTX) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,814 shares of the conglomerate’s stock after selling 3,739 shares during the quarter. Strategic Financial Services Inc’s holdings in United Technologies were worth $3,469,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of UTX. BTR Capital Management Inc. grew its holdings in United Technologies by 0.4% in the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock worth $11,516,000 after buying an additional 375 shares in the last quarter. Squar Milner Financial Services LLC grew its holdings in United Technologies by 13.5% in the 2nd quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock worth $418,000 after buying an additional 397 shares in the last quarter. Ascension Asset Management LLC grew its holdings in United Technologies by 2.6% in the 2nd quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock worth $1,972,000 after buying an additional 400 shares in the last quarter. Elmwood Wealth Management Inc. grew its holdings in United Technologies by 5.4% in the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock worth $1,085,000 after buying an additional 400 shares in the last quarter. Finally, FCG Advisors LLC grew its holdings in United Technologies by 12.3% in the 2nd quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock worth $460,000 after buying an additional 403 shares in the last quarter. 81.84% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on the company. UBS Group assumed coverage on United Technologies in a report on Wednesday, August 15th. They issued a “buy” rating for the company. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. Royal Bank of Canada decreased their price objective on United Technologies to $148.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Finally, Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. United Technologies has a consensus rating of “Buy” and a consensus price target of $151.90.

UTX opened at $121.09 on Tuesday. The company has a market capitalization of $98.60 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17. United Technologies Co. has a 1-year low of $115.40 and a 1-year high of $144.15.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 earnings per share. On average, analysts predict that United Technologies Co. will post 7.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.43%. This is an increase from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, November 15th. United Technologies’s dividend payout ratio is 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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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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