Bank of Stockton raised its stake in United Technologies Corporation (NYSE:UTX) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,684 shares of the conglomerate’s stock after buying an additional 208 shares during the quarter. Bank of Stockton’s holdings in United Technologies Corporation were worth $1,426,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. lifted its stake in United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares in the last quarter. Winfield Associates Inc. lifted its stake in United Technologies Corporation by 2.9% in the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after buying an additional 29 shares in the last quarter. Alexandria Capital LLC lifted its stake in United Technologies Corporation by 0.3% in the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after buying an additional 3 shares in the last quarter. Exane Derivatives bought a new position in United Technologies Corporation in the second quarter valued at approximately $141,000. Finally, Proficio Capital Partners LLC lifted its stake in United Technologies Corporation by 42.3% in the first quarter. Proficio Capital Partners LLC now owns 1,298 shares of the conglomerate’s stock valued at $158,000 after buying an additional 386 shares in the last quarter. 78.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of United Technologies Corporation (UTX) opened at 117.75 on Thursday. The firm’s 50-day moving average is $115.06 and its 200 day moving average is $118.06. The company has a market capitalization of $94.06 billion, a price-to-earnings ratio of 17.94 and a beta of 1.05. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79.
United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The business had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the business earned $1.82 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that United Technologies Corporation will post $6.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.38%. United Technologies Corporation’s dividend payout ratio (DPR) is presently 42.68%.
A number of research analysts have weighed in on UTX shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $132.00 price target (up previously from $128.00) on shares of United Technologies Corporation in a research note on Thursday, June 22nd. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $125.00 price target on shares of United Technologies Corporation in a research note on Friday, July 7th. Stifel Nicolaus reissued a “hold” rating and issued a $126.00 price objective on shares of United Technologies Corporation in a research report on Friday, July 7th. Finally, UBS AG boosted their price objective on shares of United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $125.27.
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United Technologies Corporation Profile
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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