Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its holdings in United Technologies Co. (NYSE:UTX) by 16.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 361,151 shares of the conglomerate’s stock after selling 71,803 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in United Technologies were worth $50,493,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of United Technologies by 2.7% during the 2nd quarter. FMR LLC now owns 26,461,071 shares of the conglomerate’s stock worth $3,308,428,000 after buying an additional 707,417 shares during the last quarter. Third Point LLC increased its holdings in United Technologies by 7.0% in the 2nd quarter. Third Point LLC now owns 7,600,000 shares of the conglomerate’s stock valued at $950,228,000 after purchasing an additional 500,000 shares during the last quarter. Boston Partners increased its holdings in United Technologies by 25.0% in the 2nd quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock valued at $844,240,000 after purchasing an additional 1,349,539 shares during the last quarter. Fisher Asset Management LLC increased its holdings in United Technologies by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 4,194,261 shares of the conglomerate’s stock valued at $586,400,000 after purchasing an additional 107,596 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in United Technologies by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,490,898 shares of the conglomerate’s stock valued at $436,463,000 after purchasing an additional 402,311 shares during the last quarter. Institutional investors own 81.64% of the company’s stock.
Shares of UTX stock opened at $127.94 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17. United Technologies Co. has a 52 week low of $115.40 and a 52 week high of $144.15. The company has a market capitalization of $102.07 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The company had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter last year, the company posted $1.73 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, equities analysts forecast that United Technologies Co. will post 7.27 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, November 15th. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is currently 42.11%.
Several analysts recently weighed in on the stock. UBS Group assumed coverage on shares of United Technologies in a report on Wednesday, August 15th. They issued a “buy” rating for the company. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. Royal Bank of Canada dropped their target price on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Finally, Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $151.90.
About United Technologies
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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