Hall Laurie J Trustee continued to hold its position in shares of United Technologies Co. (NYSE:UTX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,910 shares of the conglomerate’s stock at the close of the 2nd quarter. Hall Laurie J Trustee’s holdings in United Technologies were worth $355,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after purchasing an additional 848,623 shares during the period. BlackRock Inc. lifted its holdings in shares of United Technologies by 0.3% during the second quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock worth $5,384,561,000 after purchasing an additional 133,036 shares during the period. FMR LLC lifted its holdings in shares of United Technologies by 13.2% during the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares during the period. Capital Research Global Investors lifted its holdings in shares of United Technologies by 3.6% during the second quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock worth $1,072,082,000 after purchasing an additional 304,989 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of United Technologies by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,710,878 shares of the conglomerate’s stock worth $575,246,000 after purchasing an additional 119,063 shares during the period. 80.20% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on UTX. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 5th. Royal Bank of Canada reaffirmed a “hold” rating and set a $126.00 price target on shares of United Technologies in a report on Tuesday, October 10th. Jefferies Group reaffirmed a “buy” rating and set a $139.00 price target on shares of United Technologies in a report on Tuesday, August 29th. Cowen reaffirmed a “hold” rating and set a $120.00 price target on shares of United Technologies in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $125.63.
Shares of United Technologies Co. (NYSE:UTX) traded up $2.52 during mid-day trading on Friday, hitting $126.28. The stock had a trading volume of 2,866,420 shares, compared to its average volume of 3,049,803. United Technologies Co. has a twelve month low of $106.85 and a twelve month high of $124.87. The stock has a market capitalization of $99,262.25, a PE ratio of 18.78, a P/E/G ratio of 2.24 and a beta of 1.07. 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 (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter last year, the business posted $1.76 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. analysts forecast that United Technologies Co. will post 6.61 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Friday, November 17th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, November 16th. United Technologies’s dividend payout ratio is currently 43.41%.
About United Technologies
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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