Barings LLC Lowers Holdings in United Technologies Corporation (UTX)

Barings LLC lessened its stake in United Technologies Corporation (NYSE:UTX) by 25.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,842 shares of the conglomerate’s stock after selling 12,860 shares during the quarter. Barings LLC’s holdings in United Technologies Corporation were worth $4,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. grew its position in shares of United Technologies Corporation by 14.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after buying an additional 125 shares during the period. Alexandria Capital LLC grew its position in shares of United Technologies Corporation by 0.4% during the 1st quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after buying an additional 4 shares during the period. Thompson Davis & CO. Inc. grew its position in shares of United Technologies Corporation by 22.9% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock worth $150,000 after buying an additional 249 shares during the period. MCF Advisors LLC grew its position in shares of United Technologies Corporation by 22.4% during the 1st quarter. MCF Advisors LLC now owns 1,550 shares of the conglomerate’s stock worth $174,000 after buying an additional 284 shares during the period. Finally, Advantage Investment Management LLC grew its position in shares of United Technologies Corporation by 12.8% during the 1st quarter. Advantage Investment Management LLC now owns 1,731 shares of the conglomerate’s stock worth $194,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 78.85% of the company’s stock.

Several equities research analysts have recently commented on the stock. BidaskClub cut shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “hold” rating and set a $125.00 price target on shares of United Technologies Corporation in a research report on Sunday, August 13th. Zacks Investment Research upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Tuesday, May 16th. Stifel Nicolaus reiterated a “hold” rating and set a $126.00 price target on shares of United Technologies Corporation in a research report on Friday, July 7th. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of United Technologies Corporation in a research report on Wednesday, May 31st. Sixteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. United Technologies Corporation currently has a consensus rating of “Hold” and an average price target of $124.48.

COPYRIGHT VIOLATION NOTICE: “Barings LLC Lowers Holdings in United Technologies Corporation (UTX)” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://sportsperspectives.com/2017/09/11/barings-llc-lowers-holdings-in-united-technologies-corporation-utx.html.

Shares of United Technologies Corporation (NYSE UTX) traded up 0.71% on Monday, reaching $110.33. 1,666,521 shares of the company’s stock were exchanged. The stock has a market cap of $88.13 billion, a P/E ratio of 16.81 and a beta of 1.05. The company’s 50 day moving average price is $117.10 and its 200-day moving average price is $117.64. 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. Equities analysts forecast that United Technologies Corporation will post $6.57 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 10th. Shareholders of record on Friday, August 18th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.56%. United Technologies Corporation’s dividend payout ratio (DPR) is 42.68%.

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.

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

Receive News & Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply