NTV Asset Management LLC Sold 561 Shares of United Technologies Co. (UTX)

NTV Asset Management LLC Sold 561 Shares of United Technologies Co. (UTX)

NTV Asset Management LLC trimmed its position in shares of United Technologies Co. (NYSE:UTX) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,983 shares of the conglomerate’s stock after selling 561 shares during the period. NTV Asset Management LLC’s holdings in United Technologies were worth $2,660,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in UTX. Newman Dignan & Sheerar Inc. boosted its holdings in shares of United Technologies by 1.1% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 8,234 shares of the conglomerate’s stock valued at $877,000 after acquiring an additional 86 shares during the period. Burke & Herbert Bank & Trust Co. boosted its holdings in shares of United Technologies by 1.6% in the fourth quarter. Burke & Herbert Bank & Trust Co. now owns 6,068 shares of the conglomerate’s stock valued at $646,000 after acquiring an additional 96 shares during the period. Farmers Trust Co. boosted its holdings in shares of United Technologies by 1.4% in the fourth quarter. Farmers Trust Co. now owns 7,239 shares of the conglomerate’s stock valued at $771,000 after acquiring an additional 100 shares during the period. Guidant Wealth Advisors boosted its holdings in shares of United Technologies by 64.9% in the fourth quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Finally, Ascension Asset Management LLC boosted its holdings in shares of United Technologies by 0.6% in the fourth quarter. Ascension Asset Management LLC now owns 15,635 shares of the conglomerate’s stock valued at $1,665,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 83.48% of the company’s stock.

Several research firms have recently weighed in on UTX. Wolfe Research set a $147.00 price objective on United Technologies and gave the company a “buy” rating in a report on Monday, November 26th. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a report on Friday, November 23rd. Jefferies Financial Group set a $148.00 price objective on United Technologies and gave the company a “buy” rating in a report on Tuesday, November 27th. Royal Bank of Canada decreased their price objective on United Technologies to $148.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Finally, Zacks Investment Research downgraded United Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $144.85.

Shares of NYSE UTX opened at $122.72 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.13 and a quick ratio of 0.81. United Technologies Co. has a 1-year low of $100.48 and a 1-year high of $144.15. The firm has a market cap of $105.56 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.76 and a beta of 1.17.

United Technologies (NYSE:UTX) last issued its quarterly earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.42. United Technologies had a return on equity of 17.53% and a net margin of 7.92%. The firm had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $16.87 billion. During the same period last year, the company earned $1.60 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts predict that United Technologies Co. will post 7.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 10th. Investors of record on Friday, February 15th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, February 14th. United Technologies’s dividend payout ratio is presently 38.63%.

In other United Technologies news, VP Robert J. Bailey sold 862 shares of the stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $121.71, for a total value of $104,914.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael R. Dumais sold 9,620 shares of the stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $119.12, for a total value of $1,145,934.40. Following the completion of the transaction, the executive vice president now owns 35,627 shares of the company’s stock, valued at approximately $4,243,888.24. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

United Technologies Company 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.

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