TRUE Private Wealth Advisors Sells 6,275 Shares of United Technologies Co. (NYSE:UTX)

TRUE Private Wealth Advisors lowered its stake in United Technologies Co. (NYSE:UTX) by 59.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,196 shares of the conglomerate’s stock after selling 6,275 shares during the period. TRUE Private Wealth Advisors’ holdings in United Technologies were worth $540,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. WESPAC Advisors SoCal LLC bought a new position in United Technologies during the fourth quarter worth $26,000. Braun Bostich & Associates Inc. increased its stake in United Technologies by 73.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 154 shares in the last quarter. Massey Quick Simon & CO. LLC bought a new stake in United Technologies in the first quarter valued at $47,000. Sageworth Trust Co acquired a new position in shares of United Technologies during the first quarter valued at about $50,000. Finally, Canton Hathaway LLC grew its holdings in shares of United Technologies by 625.5% during the first quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock valued at $51,000 after buying an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.

Shares of NYSE UTX traded up $1.14 during midday trading on Monday, hitting $131.34. The company’s stock had a trading volume of 3,768,248 shares, compared to its average volume of 3,965,099. The company’s fifty day simple moving average is $129.79. United Technologies Co. has a one year low of $100.48 and a one year high of $144.40. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. The stock has a market cap of $113.51 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.23.

United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.20. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The company had revenue of $18.37 billion for the quarter, compared to analyst estimates of $18.01 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, analysts expect that United Technologies Co. will post 7.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, August 15th. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.

UTX has been the subject of a number of analyst reports. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a report on Wednesday, April 24th. Barclays boosted their price target on shares of United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Seaport Global Securities initiated coverage on shares of United Technologies in a report on Friday, May 10th. They set a “neutral” rating and a $136.86 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. United Technologies presently has a consensus rating of “Buy” and a consensus price target of $150.50.

United Technologies 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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