Schmidt P J Investment Management Inc. raised its position in United Technologies Corporation (NYSE:UTX) by 11.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,706 shares of the conglomerate’s stock after buying an additional 880 shares during the period. Schmidt P J Investment Management Inc.’s holdings in United Technologies Corporation were worth $1,063,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of UTX. Riggs Asset Managment Co. Inc. boosted its position 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 worth $112,000 after buying an additional 125 shares in the last quarter. Alexandria Capital LLC boosted its position in United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after buying an additional 4 shares in the last quarter. Paragon Capital Management Ltd purchased a new position in United Technologies Corporation during the first quarter worth approximately $139,000. Exane Derivatives purchased a new position in United Technologies Corporation during the second quarter worth approximately $141,000. Finally, Thompson Davis & CO. Inc. boosted its position in United Technologies Corporation by 22.9% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock worth $150,000 after buying an additional 249 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.
United Technologies Corporation (NYSE UTX) traded up 0.22% during mid-day trading on Tuesday, hitting $115.53. 873,824 shares of the stock were exchanged. The firm has a market capitalization of $92.28 billion, a price-to-earnings ratio of 17.60 and a beta of 1.06. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The company’s 50-day moving average price is $120.21 and its 200 day moving average price is $117.30.
United Technologies Corporation (NYSE:UTX) last posted its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The firm had revenue of $15.28 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the firm posted $1.82 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that United Technologies Corporation will post $6.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.43%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio is presently 42.68%.
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UTX has been the topic of a number of research analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $132.00 target price (up previously from $126.00) on shares of United Technologies Corporation in a research note on Thursday, April 27th. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research note on Tuesday, May 16th. BidaskClub raised United Technologies Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. UBS AG increased their target price on United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Finally, Cowen and Company reissued a “buy” rating and issued a $127.00 target price on shares of United Technologies Corporation in a research note on Tuesday, July 25th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. United Technologies Corporation presently has an average rating of “Hold” and a consensus target price of $123.54.
United Technologies Corporation Company 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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