United Technologies Corporation (UTX) Shares Sold by Sheets Smith Wealth Management
Sheets Smith Wealth Management lowered its position in United Technologies Corporation (NYSE:UTX) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 17,465 shares of the conglomerate’s stock after selling 14 shares during the period. Sheets Smith Wealth Management’s holdings in United Technologies Corporation were worth $2,133,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of UTX. Riggs Asset Managment Co. Inc. boosted its position in shares of United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after buying an additional 125 shares during the last quarter. Alexandria Capital LLC boosted its position in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after buying an additional 4 shares during the last quarter. Paragon Capital Management Ltd purchased a new position in shares of United Technologies Corporation during the first quarter worth about $139,000. Exane Derivatives purchased a new position in shares of United Technologies Corporation during the second quarter worth about $141,000. Finally, Thompson Davis & CO. Inc. boosted its position in shares of United Technologies Corporation by 22.9% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock worth $150,000 after buying an additional 249 shares during the last quarter. 78.81% of the stock is owned by institutional investors.
Shares of United Technologies Corporation (NYSE:UTX) traded up 0.11% during midday trading on Friday, hitting $116.89. The company had a trading volume of 2,090,943 shares. The firm’s 50 day moving average is $121.18 and its 200 day moving average is $116.91. The company has a market capitalization of $93.37 billion, a P/E ratio of 17.81 and a beta of 1.06. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79.
United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company had revenue of $15.28 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the business earned $1.82 EPS. United Technologies Corporation’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that United Technologies Corporation will post $6.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, August 16th. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s payout ratio is currently 40.24%.
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A number of brokerages have issued reports on UTX. Zacks Investment Research cut United Technologies Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a report on Sunday. Deutsche Bank AG upped their target price on United Technologies Corporation from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $135.00 target price (up previously from $130.00) on shares of United Technologies Corporation in a report on Friday, July 21st. Finally, Vetr raised United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $123.54.
About United Technologies Corporation
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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