BDO Wealth Advisors LLC purchased a new position in United Technologies Corporation (NYSE:UTX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,909 shares of the conglomerate’s stock, valued at approximately $844,000.
A number of other hedge funds also recently made changes to their positions in UTX. Tortoise Investment Management LLC lifted its stake in United Technologies Corporation by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares in the last quarter. Seven Bridges Advisors LLC purchased a new stake in United Technologies Corporation in the 2nd quarter worth $120,000. Winfield Associates Inc. lifted its stake in United Technologies Corporation by 2.9% in 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 in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in United Technologies Corporation in the 2nd quarter worth $131,000. Finally, Alexandria Capital LLC lifted its stake in United Technologies Corporation by 0.3% in 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 in the last quarter. Institutional investors and hedge funds own 78.81% of the company’s stock.
Shares of United Technologies Corporation (NYSE UTX) opened at $118.11 on Monday. United Technologies Corporation has a 52-week low of $106.21 and a 52-week high of $124.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The company has a market cap of $94,319.10, a P/E ratio of 17.84, a P/E/G ratio of 2.13 and a beta of 1.07.
United Technologies Corporation (NYSE:UTX) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.05. The company had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies Corporation had a net margin of 8.79% and a return on equity of 17.66%. United Technologies Corporation’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 earnings per share. equities analysts forecast that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.37%. United Technologies Corporation’s dividend payout ratio is currently 43.41%.
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Several analysts have recently issued reports on the stock. BidaskClub cut shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Sanford C. Bernstein restated a “market perform” rating and set a $135.00 target price (up from $130.00) on shares of United Technologies Corporation in a research report on Friday, July 21st. Cowen and Company restated a “buy” rating and set a $127.00 target price on shares of United Technologies Corporation in a research report on Tuesday, July 25th. Credit Suisse Group restated a “buy” rating and set a $136.00 target price on shares of United Technologies Corporation in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a research report on Thursday, July 27th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $125.15.
In other United Technologies Corporation news, EVP Michael R. Dumais sold 2,986 shares of the firm’s stock in a transaction 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 owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.
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.
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