United Technologies Co. (UTX) Shares Sold by Verity & Verity LLC
Verity & Verity LLC cut its holdings in United Technologies Co. (NYSE:UTX) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 75,172 shares of the conglomerate’s stock after selling 474 shares during the quarter. United Technologies comprises 2.5% of Verity & Verity LLC’s holdings, making the stock its 6th biggest position. Verity & Verity LLC’s holdings in United Technologies were worth $10,510,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Credit Agricole S A boosted its position in United Technologies by 101.4% during the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after acquiring an additional 436 shares during the last quarter. Jolley Asset Management LLC acquired a new position in United Technologies during the 2nd quarter worth approximately $114,000. Fort L.P. acquired a new position in United Technologies during the 2nd quarter worth approximately $120,000. WP Advisors LLC acquired a new position in United Technologies during the 2nd quarter worth approximately $126,000. Finally, Kiley Juergens Wealth Management LLC acquired a new position in United Technologies during the 2nd quarter worth approximately $127,000. Institutional investors and hedge funds own 81.68% of the company’s stock.
In related news, VP Robert J. Bailey sold 828 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $134.75, for a total value of $111,573.00. Following the sale, the vice president now owns 2,000 shares in the company, valued at approximately $269,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Charles D. Gill sold 14,255 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $136.43, for a total value of $1,944,809.65. Following the completion of the sale, the vice president now owns 55,029 shares in the company, valued at approximately $7,507,606.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,511 shares of company stock worth $2,521,974. 0.17% of the stock is owned by company insiders.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. United Technologies had a return on equity of 17.53% and a net margin of 8.09%. The company had revenue of $16.71 billion for the quarter, compared to analysts’ expectations of $16.26 billion. During the same quarter in the prior year, the business posted $1.85 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts expect that United Technologies Co. will post 7.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Thursday, November 15th. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio is 42.11%.
UTX has been the subject of a number of recent research reports. Robert W. Baird upped their price target on United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, September 20th. Jefferies Financial Group set a $157.00 price target on United Technologies and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Friday, October 12th. Wolfe Research initiated coverage on United Technologies in a research report on Wednesday, June 27th. They set an “outperform” rating for the company. Finally, ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. United Technologies currently has a consensus rating of “Buy” and an average price target of $149.70.
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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