Cardinal Capital Management Inc. Has $15.50 Million Stake in United Technologies Corporation (UTX)

Cardinal Capital Management Inc. grew its stake in shares of United Technologies Corporation (NYSE:UTX) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,960 shares of the conglomerate’s stock after purchasing an additional 5,270 shares during the quarter. United Technologies Corporation makes up approximately 1.6% of Cardinal Capital Management Inc.’s portfolio, making the stock its 19th biggest position. Cardinal Capital Management Inc.’s holdings in United Technologies Corporation were worth $15,503,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Private Wealth Advisors Inc. boosted its stake in shares of United Technologies Corporation by 14.9% during the first quarter. Private Wealth Advisors Inc. now owns 23,551 shares of the conglomerate’s stock valued at $2,643,000 after purchasing an additional 3,051 shares during the period. Pioneer Investment Management Inc. boosted its stake in shares of United Technologies Corporation by 2.1% during the first quarter. Pioneer Investment Management Inc. now owns 1,223,811 shares of the conglomerate’s stock valued at $137,324,000 after purchasing an additional 25,625 shares during the period. Smith Moore & CO. boosted its stake in shares of United Technologies Corporation by 11.7% during the first quarter. Smith Moore & CO. now owns 2,701 shares of the conglomerate’s stock valued at $303,000 after purchasing an additional 282 shares during the period. Lincoln National Corp boosted its stake in shares of United Technologies Corporation by 102.1% during the first quarter. Lincoln National Corp now owns 4,961 shares of the conglomerate’s stock valued at $557,000 after purchasing an additional 2,506 shares during the period. Finally, Asset Planning Services Inc. LA ADV boosted its stake in shares of United Technologies Corporation by 0.3% during the first quarter. Asset Planning Services Inc. LA ADV now owns 33,071 shares of the conglomerate’s stock valued at $3,711,000 after purchasing an additional 90 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the company. Zacks Investment Research lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Cowen and Company reissued a “buy” rating and set a $127.00 price objective on shares of United Technologies Corporation in a research note on Tuesday, July 25th. BidaskClub lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley reissued an “overweight” rating and set a $138.00 price objective (up previously from $132.00) on shares of United Technologies Corporation in a research note on Monday, July 10th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $125.00 price objective on shares of United Technologies Corporation in a research note on Friday, July 7th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $124.48.

WARNING: “Cardinal Capital Management Inc. Has $15.50 Million Stake in United Technologies Corporation (UTX)” was posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.chaffeybreeze.com/2017/09/20/cardinal-capital-management-inc-has-15-50-million-stake-in-united-technologies-corporation-utx.html.

United Technologies Corporation (UTX) traded up 0.33% during trading on Wednesday, reaching $114.02. The company’s stock had a trading volume of 1,444,328 shares. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The company has a market capitalization of $91.08 billion, a P/E ratio of 17.37 and a beta of 1.05. The firm’s 50-day moving average price is $115.56 and its 200 day moving average price is $117.60.

United Technologies Corporation (NYSE:UTX) last issued its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the business earned $1.82 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts predict that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.

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.

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