Financial Architects Inc Cuts Stake in United Technologies Corporation (UTX)

Financial Architects Inc decreased its stake in United Technologies Corporation (NYSE:UTX) by 1.2% during the first quarter, Holdings Channel reports. The firm owned 3,962 shares of the conglomerate’s stock after selling 48 shares during the period. Financial Architects Inc’s holdings in United Technologies Corporation were worth $445,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Holderness Investments Co. raised its position in United Technologies Corporation by 1.6% in the fourth quarter. Holderness Investments Co. now owns 12,759 shares of the conglomerate’s stock valued at $1,399,000 after buying an additional 200 shares during the period. Institutional Capital LLC raised its position in United Technologies Corporation by 23.5% in the fourth quarter. Institutional Capital LLC now owns 2,124,373 shares of the conglomerate’s stock valued at $232,874,000 after buying an additional 404,481 shares during the period. Wesbanco Bank Inc. raised its position in United Technologies Corporation by 5.8% in the fourth quarter. Wesbanco Bank Inc. now owns 140,002 shares of the conglomerate’s stock valued at $15,347,000 after buying an additional 7,699 shares during the period. Johnson Financial Group Inc. raised its position in United Technologies Corporation by 10.1% in the fourth quarter. Johnson Financial Group Inc. now owns 15,296 shares of the conglomerate’s stock valued at $1,677,000 after buying an additional 1,405 shares during the period. Finally, Smith Moore & CO. purchased a new position in United Technologies Corporation during the fourth quarter valued at approximately $265,000. 80.37% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for United Technologies Corporation (NYSE:UTX)

United Technologies Corporation (NYSE UTX) opened at 121.85 on Tuesday. United Technologies Corporation has a one year low of $96.89 and a one year high of $122.85. The firm has a market cap of $97.63 billion, a price-to-earnings ratio of 18.97 and a beta of 1.06. The company’s 50-day moving average price is $120.85 and its 200-day moving average price is $114.01.

United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. United Technologies Corporation had a return on equity of 18.10% and a net margin of 9.10%. The business had revenue of $13.82 billion for the quarter, compared to the consensus estimate of $13.50 billion. During the same quarter last year, the business posted $1.47 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, analysts anticipate that United Technologies Corporation will post $6.58 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be given a $0.70 dividend. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.30%. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio (DPR) is currently 41.19%.

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Several research firms have commented on UTX. Royal Bank Of Canada reaffirmed a “hold” rating and set a $125.00 price target on shares of United Technologies Corporation in a research report on Friday, June 2nd. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Monday, June 5th. Jefferies Group LLC reaffirmed a “buy” rating on shares of United Technologies Corporation in a research report on Wednesday, May 31st. HSBC Holdings plc began coverage on United Technologies Corporation in a research report on Monday, June 12th. They set a “hold” rating and a $125.00 price target on the stock. Finally, Vetr raised United Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. United Technologies Corporation has an average rating of “Hold” and an average price target of $120.13.

In related news, VP Robert J. Bailey sold 2,702 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total value of $322,970.06. Following the sale, the vice president now directly owns 5,000 shares in the company, valued at approximately $597,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Philippe Delpech sold 7,696 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total value of $925,982.72. Following the completion of the sale, the insider now owns 63,621 shares in the company, valued at $7,654,878.72. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

About United Technologies Corporation

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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