Dividend Assets Capital LLC decreased its position in United Technologies Co. (NYSE:UTX) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,663 shares of the conglomerate’s stock after selling 2,049 shares during the quarter. Dividend Assets Capital LLC’s holdings in United Technologies were worth $7,363,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of UTX. Credit Agricole S A increased its stake in United Technologies by 101.4% in the second 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 last quarter. Jolley Asset Management LLC purchased a new position in United Technologies in the second quarter valued at approximately $114,000. Psagot Investment House Ltd. purchased a new position in United Technologies in the third quarter valued at approximately $134,000. Fort L.P. purchased a new position in United Technologies in the second quarter valued at approximately $120,000. Finally, WP Advisors LLC purchased a new position in United Technologies in the second quarter valued at approximately $126,000. 81.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of UTX opened at $129.12 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.17 and a current ratio of 1.52. The company has a market cap of $104.70 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. United Technologies Co. has a 12-month low of $115.40 and a 12-month high of $144.15.
United Technologies (NYSE:UTX) last announced its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. Analysts anticipate that United Technologies Co. will post 7.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.28%. United Technologies’s dividend payout ratio (DPR) is 42.11%.
Several equities analysts have commented on UTX shares. Robert W. Baird increased their price target 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. 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 lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Finally, Royal Bank of Canada dropped their price target on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $151.90.
United Technologies Company Profile
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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