RDL Financial Inc. trimmed its position in shares of United Technologies Corporation (NYSE:UTX) by 10.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,798 shares of the conglomerate’s stock after selling 1,185 shares during the quarter. RDL Financial Inc.’s holdings in United Technologies Corporation were worth $1,196,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in UTX. Tortoise Investment Management LLC lifted its position in United Technologies Corporation by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after buying an additional 48 shares in the last quarter. Seven Bridges Advisors LLC bought a new stake in United Technologies Corporation during the 2nd quarter worth about $120,000. Winfield Associates Inc. lifted 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 buying an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in United Technologies Corporation during the 2nd quarter worth about $131,000. Finally, Alexandria Capital LLC lifted 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 buying an additional 3 shares in the last quarter. 78.33% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on the stock. Vertical Research cut shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, September 5th. Deutsche Bank AG cut their price target on shares of United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Wednesday, September 6th. Credit Suisse Group restated a “buy” rating and set a $136.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Cowen and Company restated a “hold” rating and set a $120.00 price objective on shares of United Technologies Corporation in a research note on Friday, November 10th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $126.00 price objective on shares of United Technologies Corporation in a research note on Tuesday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $125.15.
In other United Technologies Corporation news, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total value of $361,246.28. Following the completion of the transaction, the executive vice president now directly owns 27,548 shares in the company, valued at approximately $3,332,757.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.
United Technologies Corporation (NYSE UTX) opened at $116.73 on Thursday. The company has a market cap of $93,220.00, a P/E ratio of 17.58, a P/E/G ratio of 2.10 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91. United Technologies Corporation has a 52 week low of $106.85 and a 52 week high of $124.79.
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 Thomson Reuters’ 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 analysts’ expectations of $14.99 billion. During the same period in the prior year, the company posted $1.76 EPS. The company’s revenue was up 4.9% on a year-over-year basis. equities analysts expect that United Technologies Corporation will post 6.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio (DPR) is currently 43.34%.
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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