Prudential Financial Inc. reduced its stake in shares of United Technologies Corporation (NYSE:UTX) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,127,705 shares of the conglomerate’s stock after selling 16,340 shares during the period. Prudential Financial Inc. owned 0.14% of United Technologies Corporation worth $137,704,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of UTX. Tortoise Investment Management LLC raised its holdings in United Technologies Corporation by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 48 shares during the last quarter. Seven Bridges Advisors LLC acquired a new stake in shares of United Technologies Corporation during the 2nd quarter worth $120,000. Winfield Associates Inc. boosted its position in United Technologies Corporation by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 29 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in United Technologies Corporation during the 2nd quarter worth $131,000. Finally, Alexandria Capital LLC boosted its position in United Technologies Corporation by 0.3% during the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after purchasing an additional 3 shares during the period. Hedge funds and other institutional investors own 78.81% of the company’s stock.
In related news, EVP Michael R. Dumais sold 2,986 shares of United Technologies Corporation stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the transaction, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.
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Shares of United Technologies Corporation (NYSE UTX) opened at $118.11 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 12-month low of $106.21 and a 12-month high of $124.79. The firm has a market cap of $94,526.73, a PE ratio of 17.88, a PEG ratio of 2.13 and a beta of 1.07.
United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same period last year, the firm posted $1.76 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. analysts anticipate that United Technologies Corporation will post 6.61 earnings per share 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 2.37%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio is currently 43.41%.
A number of equities analysts have weighed in on the stock. Cowen and Company reissued a “buy” rating and issued a $127.00 price objective on shares of United Technologies Corporation in a research report on Tuesday, July 25th. BidaskClub lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Sanford C. Bernstein reiterated a “market perform” rating and set a $135.00 price objective (up previously from $130.00) on shares of United Technologies Corporation in a research note on Friday, July 21st. Credit Suisse Group reiterated a “buy” rating and set a $136.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Finally, Stifel Nicolaus raised their price target on shares of United Technologies Corporation from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. United Technologies Corporation has a consensus rating of “Hold” and a consensus target price of $125.15.
About United Technologies Corporation
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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