AE Wealth Management LLC cut its position in shares of United Technologies Co. (NYSE:UTX) by 32.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,033 shares of the conglomerate’s stock after selling 7,846 shares during the quarter. AE Wealth Management LLC’s holdings in United Technologies were worth $2,189,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of UTX. Phocas Financial Corp. acquired a new position in shares of United Technologies in the second quarter worth $25,000. Krane Funds Advisors LLC acquired a new position in shares of United Technologies in the second quarter worth $26,000. Transamerica Financial Advisors Inc. acquired a new position in shares of United Technologies in the second quarter worth $30,000. American National Bank acquired a new position in shares of United Technologies in the third quarter worth $34,000. Finally, Financial Management Professionals Inc. raised its holdings in shares of United Technologies by 3,600.0% in the third quarter. Financial Management Professionals Inc. now owns 259 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 252 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Credit Suisse Group set a $162.00 price target on United Technologies and gave the stock a “buy” rating in a report on Friday, October 25th. Zacks Investment Research cut United Technologies from a “strong-buy” rating to a “hold” rating and set a $151.00 price target for the company. in a report on Friday, July 19th. William Blair reissued a “hold” rating on shares of United Technologies in a report on Tuesday, September 3rd. Cowen reissued a “buy” rating and issued a $150.00 price target on shares of United Technologies in a report on Wednesday, September 4th. Finally, Sanford C. Bernstein boosted their price target on United Technologies from $143.00 to $154.00 and gave the stock a “market perform” rating in a report on Tuesday, September 17th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $154.69.
United Technologies stock opened at $148.31 on Thursday. The firm has a market capitalization of $128.52 billion, a P/E ratio of 19.49, a PEG ratio of 2.08 and a beta of 1.22. The stock has a fifty day moving average price of $139.70 and a 200 day moving average price of $133.84. United Technologies Co. has a 52 week low of $100.48 and a 52 week high of $149.35. The company has a current ratio of 1.06, a quick ratio of 0.75 and a debt-to-equity ratio of 0.93.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.31 billion. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 earnings per share. As a group, equities analysts predict that United Technologies Co. will post 8.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $2.94 annualized dividend and a yield of 1.98%. United Technologies’s payout ratio is currently 38.63%.
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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