Commerce Bank decreased its holdings in shares of United Technologies Co. (NYSE:UTX) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 281,304 shares of the conglomerate’s stock after selling 456 shares during the quarter. Commerce Bank’s holdings in United Technologies were worth $39,330,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Credit Agricole S A grew its stake in United Technologies by 101.4% in the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after buying an additional 436 shares during the last quarter. Jolley Asset Management LLC acquired a new position in United Technologies in the 2nd quarter valued at $114,000. Fort L.P. acquired a new position in United Technologies in the 2nd quarter valued at $120,000. WP Advisors LLC acquired a new position in United Technologies in the 2nd quarter valued at $126,000. Finally, Kiley Juergens Wealth Management LLC acquired a new position in United Technologies in the 2nd quarter valued at $127,000. Institutional investors own 81.64% of the company’s stock.
Shares of United Technologies stock opened at $130.71 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. United Technologies Co. has a fifty-two week low of $115.40 and a fifty-two week high of $144.15. The firm has a market capitalization of $102.48 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 1.94 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The firm had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the prior year, the firm earned $1.73 EPS. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts expect that United Technologies Co. will post 7.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This is an increase from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 dividend on an annualized basis and a yield of 2.25%. United Technologies’s dividend payout ratio is 42.11%.
A number of research firms recently issued reports on UTX. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Royal Bank of Canada lowered their target price on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Robert W. Baird raised their target price on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, September 20th. Finally, UBS Group began coverage on shares of United Technologies in a research note on Wednesday, August 15th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $151.90.
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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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