Vigilant Capital Management LLC Lowers Position in United Technologies Co. (UTX)

Vigilant Capital Management LLC decreased its position in United Technologies Co. (NYSE:UTX) by 16.3% in the first quarter, HoldingsChannel.com reports. The firm owned 11,498 shares of the conglomerate’s stock after selling 2,231 shares during the period. Vigilant Capital Management LLC’s holdings in United Technologies were worth $1,482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UTX. WESPAC Advisors SoCal LLC purchased a new stake in United Technologies during the fourth quarter worth $26,000. Guidant Wealth Advisors lifted its holdings in United Technologies by 64.9% during the fourth quarter. Guidant Wealth Advisors now owns 254 shares of the conglomerate’s stock worth $27,000 after buying an additional 100 shares during the period. Braun Bostich & Associates Inc. lifted its holdings in United Technologies by 73.0% during the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock worth $39,000 after buying an additional 154 shares during the period. Sageworth Trust Co purchased a new stake in United Technologies during the first quarter worth $50,000. Finally, Financial Gravity Companies Inc. acquired a new position in shares of United Technologies during the fourth quarter worth $51,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Shares of UTX stock opened at $136.86 on Friday. The firm has a market cap of $118.19 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.79 and a current ratio of 1.13. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40.

United Technologies (NYSE:UTX) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.20. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. The firm had revenue of $18.37 billion for the quarter, compared to the consensus estimate of $18.01 billion. During the same period in the prior year, the firm earned $1.77 EPS. The firm’s revenue was up 20.5% on a year-over-year basis. On average, analysts predict that United Technologies Co. will post 7.97 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, May 16th. United Technologies’s payout ratio is 38.63%.

In related news, VP Charles D. Gill sold 12,842 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $123.67, for a total value of $1,588,170.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Akhil Johri sold 3,210 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $128.49, for a total value of $412,452.90. Following the completion of the transaction, the vice president now directly owns 62,915 shares in the company, valued at $8,083,948.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,288 shares of company stock worth $10,902,196. 0.15% of the stock is owned by insiders.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $159.00 price target on shares of United Technologies in a research report on Wednesday, April 24th. Barclays upped their price target on United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Seaport Global Securities assumed coverage on United Technologies in a research report on Friday. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on United Technologies in a research report on Friday, February 22nd. They set an “overweight” rating and a $132.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $148.67.

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

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