Arthur M. Cohen & Associates LLC Sells 4,800 Shares of United Technologies Co. (UTX)
Arthur M. Cohen & Associates LLC lowered its stake in United Technologies Co. (NYSE:UTX) by 8.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 49,958 shares of the conglomerate’s stock after selling 4,800 shares during the quarter. United Technologies comprises about 1.7% of Arthur M. Cohen & Associates LLC’s holdings, making the stock its 13th largest position. Arthur M. Cohen & Associates LLC’s holdings in United Technologies were worth $5,319,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Guidant Wealth Advisors grew its position in shares of United Technologies by 64.9% in the 4th quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of United Technologies in the 4th quarter worth approximately $51,000. Glassman Wealth Services grew its position in shares of United Technologies by 297.9% in the 4th quarter. Glassman Wealth Services now owns 561 shares of the conglomerate’s stock worth $60,000 after acquiring an additional 420 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of United Technologies in the 4th quarter worth approximately $64,000. Finally, Tributary Capital Management LLC acquired a new position in shares of United Technologies in the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.
In other news, Chairman Gregory Hayes sold 35,942 shares of United Technologies stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $123.81, for a total transaction of $4,449,979.02. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael R. Dumais sold 9,620 shares of United Technologies stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total value of $1,145,934.40. Following the transaction, the executive vice president now owns 35,627 shares in the company, valued at approximately $4,243,888.24. The disclosure for this sale can be found here. Insiders have sold 96,352 shares of company stock worth $11,974,093 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.
United Technologies (NYSE:UTX) last issued its earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.42. The business had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $16.87 billion. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 EPS. As a group, research analysts expect that United Technologies Co. will post 7.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, March 10th. Stockholders of record on Friday, February 15th were issued a dividend of $0.735 per share. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.32%. United Technologies’s dividend payout ratio is 38.63%.
Several brokerages have recently commented on UTX. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research report on Wednesday, January 30th. JPMorgan Chase & Co. began coverage on United Technologies in a research note on Friday, February 22nd. They issued an “overweight” rating and a $132.00 price objective on the stock. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. Robert W. Baird dropped their price objective on United Technologies from $167.00 to $149.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 28th. Finally, Bank of America set a $180.00 price objective on United Technologies and gave the stock a “buy” rating in a research note on Tuesday, November 27th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. United Technologies has an average rating of “Buy” and a consensus target price of $143.93.
TRADEMARK VIOLATION WARNING: This piece was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of US & international trademark and copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2019/03/15/arthur-m-cohen-associates-llc-sells-4800-shares-of-united-technologies-co-utx.html.
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.
Featured Story: Trading Stocks – What are percentage gainers?
Want to see what other hedge funds are holding UTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Technologies Co. (NYSE:UTX).
Receive News & Ratings for United Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies and related companies with MarketBeat.com's FREE daily email newsletter.