WESPAC Advisors LLC grew its stake in United Technologies Co. (NYSE:UTX) by 57.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,369 shares of the conglomerate’s stock after purchasing an additional 8,190 shares during the quarter. United Technologies comprises approximately 1.8% of WESPAC Advisors LLC’s holdings, making the stock its 9th largest holding. WESPAC Advisors LLC’s holdings in United Technologies were worth $3,127,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Credit Agricole S A lifted its stake in shares of 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 purchasing an additional 436 shares during the period. Jolley Asset Management LLC acquired a new position in shares of United Technologies in the 2nd quarter valued at $114,000. Fort L.P. acquired a new position in shares of United Technologies in the 2nd quarter valued at $120,000. WP Advisors LLC bought a new stake in shares of United Technologies in the 2nd quarter valued at $126,000. Finally, Kiley Juergens Wealth Management LLC bought a new stake in shares of United Technologies in the 2nd quarter valued at $127,000. 81.64% of the stock is currently owned by institutional investors.
A number of analysts recently commented on UTX shares. Robert W. Baird upped their price objective on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, September 20th. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. ValuEngine cut shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, Royal Bank of Canada lowered their price objective on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. Five analysts have rated the stock with a hold rating and eleven have given 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.
UTX opened at $130.71 on Friday. 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 12 month low of $115.40 and a 12 month high of $144.15. The firm has a market capitalization of $104.57 billion, a P/E ratio of 17.96, a PEG ratio of 1.98 and a beta of 1.09.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the Zacks’ 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 business had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that United Technologies Co. will post 7.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.25%. 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 is 42.11%.
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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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