United Technologies Co. (NYSE:UTX) Shares Sold by Point View Wealth Management Inc.
Point View Wealth Management Inc. lessened its position in shares of United Technologies Co. (NYSE:UTX) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,126 shares of the conglomerate’s stock after selling 103 shares during the period. Point View Wealth Management Inc.’s holdings in United Technologies were worth $468,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Accurate Investment Solutions Inc. bought a new stake in shares of United Technologies in the 4th quarter worth approximately $30,000. Savior LLC bought a new position in United Technologies during the 4th quarter worth $32,000. Lighthouse Financial Advisors Inc. acquired a new stake in United Technologies in the fourth quarter worth $36,000. Manchester Financial Inc. acquired a new stake in United Technologies in the fourth quarter worth $40,000. Finally, Massey Quick Simon & CO. LLC increased its position in United Technologies by 1,500.0% in the third quarter. Massey Quick Simon & CO. LLC now owns 320 shares of the conglomerate’s stock worth $44,000 after buying an additional 300 shares during the period. 80.94% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on UTX shares. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, November 28th. Argus reaffirmed a “buy” rating and issued a $170.00 price objective on shares of United Technologies in a report on Wednesday, January 29th. Benchmark assumed coverage on shares of United Technologies in a research report on Friday, January 31st. They issued a “buy” rating and a $186.00 price objective on the stock. Credit Suisse Group lifted their price objective on shares of United Technologies from $174.00 to $176.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Cowen assumed coverage on shares of United Technologies in a research note on Tuesday, January 28th. They set a “buy” rating and a $169.00 target price for the company. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $164.53.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.10. The business had revenue of $19.55 billion for the quarter, compared to analysts’ expectations of $19.34 billion. United Technologies had a net margin of 7.19% and a return on equity of 16.60%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.95 earnings per share. Equities analysts expect that United Technologies Co. will post 8.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.94 annualized dividend and a yield of 1.92%. United Technologies’s payout ratio is 35.59%.
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.
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