Capital Advantage Inc. trimmed its holdings in shares of United Technologies Corporation (NYSE:UTX) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,670 shares of the conglomerate’s stock after selling 739 shares during the period. Capital Advantage Inc.’s holdings in United Technologies Corporation were worth $814,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Boston Partners boosted its stake in shares of United Technologies Corporation by 3.0% during the 1st quarter. Boston Partners now owns 5,385,002 shares of the conglomerate’s stock worth $604,251,000 after buying an additional 158,696 shares during the last quarter. Legal & General Group Plc lifted its stake in United Technologies Corporation by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 3,729,056 shares of the conglomerate’s stock valued at $455,358,000 after purchasing an additional 46,813 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in United Technologies Corporation by 3.7% in the 1st quarter. Ameriprise Financial Inc. now owns 3,544,737 shares of the conglomerate’s stock valued at $397,774,000 after purchasing an additional 125,003 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in United Technologies Corporation by 0.6% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,517,626 shares of the conglomerate’s stock valued at $429,537,000 after purchasing an additional 19,439 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in United Technologies Corporation by 15.8% in the 1st quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock valued at $384,887,000 after purchasing an additional 468,515 shares during the last quarter. Institutional investors own 78.80% of the company’s stock.
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In other United Technologies Corporation news, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $120.98, for a total value of $361,246.28. Following the transaction, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.
United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.05. United Technologies Corporation had a net margin of 8.79% and a return on equity of 17.66%. The business had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the previous year, the company earned $1.76 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. analysts predict that United Technologies Corporation will post 6.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio (DPR) is presently 43.41%.
UTX has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Jefferies Group LLC reiterated a “buy” rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Cowen and Company reiterated a “buy” rating and issued a $127.00 target price on shares of United Technologies Corporation in a research note on Tuesday, September 5th. Credit Suisse Group reiterated a “neutral” rating on shares of United Technologies Corporation in a research note on Friday, September 1st. Finally, BidaskClub downgraded shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. United Technologies Corporation currently has a consensus rating of “Hold” and a consensus price target of $125.15.
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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