Edge Wealth Management LLC Has $461,000 Holding in United Technologies Co. (UTX)

Edge Wealth Management LLC Has $461,000 Holding in United Technologies Co. (UTX)

Edge Wealth Management LLC reduced its stake in United Technologies Co. (NYSE:UTX) by 87.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,297 shares of the conglomerate’s stock after selling 22,669 shares during the period. Edge Wealth Management LLC’s holdings in United Technologies were worth $461,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BTR Capital Management Inc. increased its holdings in shares of United Technologies by 0.4% in the second quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock valued at $11,516,000 after buying an additional 375 shares in the last quarter. Squar Milner Financial Services LLC increased its holdings in shares of United Technologies by 13.5% in the second quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock valued at $418,000 after buying an additional 397 shares in the last quarter. Ascension Asset Management LLC increased its holdings in shares of United Technologies by 2.6% in the second quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock valued at $1,972,000 after buying an additional 400 shares in the last quarter. Elmwood Wealth Management Inc. increased its holdings in shares of United Technologies by 5.4% in the third quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock valued at $1,085,000 after buying an additional 400 shares in the last quarter. Finally, FCG Advisors LLC grew its position in United Technologies by 12.3% during the 2nd quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock worth $460,000 after purchasing an additional 403 shares in the last quarter. Institutional investors own 81.67% of the company’s stock.

Several research firms have weighed in on UTX. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Robert W. Baird boosted their price target on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, September 20th. UBS Group assumed coverage on shares of United Technologies in a report on Wednesday, August 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reduced their price objective on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $151.90.

Shares of UTX opened at $129.73 on Friday. The stock has a market cap of $102.77 billion, a PE ratio of 19.51, a P/E/G ratio of 1.95 and a beta of 1.09. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17. United Technologies Co. has a 52 week low of $115.40 and a 52 week high of $144.15.

United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.11. The business had revenue of $16.51 billion during the quarter, compared to analyst estimates of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. Equities analysts predict that United Technologies Co. will post 7.27 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a $0.735 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.27%. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s payout ratio is presently 42.11%.

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.

Recommended Story: What does the Dow Jones Industrial Average (DJIA) measure?

Related posts

Leave a Comment