United Technologies Corporation (UTX) Shares Sold by Roosevelt Investment Group Inc.
Roosevelt Investment Group Inc. trimmed its stake in shares of United Technologies Corporation (NYSE:UTX) by 13.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,615 shares of the conglomerate’s stock after selling 576 shares during the quarter. Roosevelt Investment Group Inc.’s holdings in United Technologies were worth $441,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tortoise Investment Management LLC lifted its position in United Technologies by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after purchasing an additional 48 shares during the last quarter. Seven Bridges Advisors LLC bought a new stake in United Technologies in the 2nd quarter valued at about $120,000. Winfield Associates Inc. lifted its position in United Technologies by 2.9% in the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after purchasing an additional 29 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in United Technologies in the 2nd quarter valued at about $131,000. Finally, Alexandria Capital LLC lifted its position in United Technologies by 0.3% in the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after purchasing an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.
Several analysts recently weighed in on UTX shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 price objective on shares of United Technologies in a research report on Sunday, August 13th. Jefferies Group reiterated a “buy” rating and issued a $139.00 price objective on shares of United Technologies in a research report on Tuesday, August 29th. Credit Suisse Group reiterated a “neutral” rating on shares of United Technologies in a research report on Friday, September 1st. Vertical Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Tuesday, September 5th. Finally, Cowen reiterated a “buy” rating and issued a $127.00 price objective on shares of United Technologies in a research report on Tuesday, September 5th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $125.15.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. United Technologies’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.76 EPS. equities research analysts anticipate that United Technologies Corporation will post 6.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.33%. United Technologies’s payout ratio is 43.41%.
In other United Technologies news, VP Akhil Johri sold 5,979 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $121.03, for a total transaction of $723,638.37. Following the transaction, the vice president now owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert J. Bailey sold 827 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,792 shares of company stock worth $1,182,520. 0.16% of the stock is owned by corporate insiders.
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About United Technologies
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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