Northeast Investment Management reduced its stake in United Technologies Co. (NYSE:UTX) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,509 shares of the conglomerate’s stock after selling 582 shares during the period. United Technologies makes up about 1.5% of Northeast Investment Management’s investment portfolio, making the stock its 24th biggest holding. Northeast Investment Management’s holdings in United Technologies were worth $18,526,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Credit Agricole S A increased its holdings 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 purchasing an additional 436 shares in the last quarter. Psagot Investment House Ltd. purchased a new position in United Technologies in the 3rd quarter valued at about $134,000. Fort L.P. purchased a new position in United Technologies in the 2nd quarter valued at about $120,000. WP Advisors LLC purchased a new position in United Technologies in the 2nd quarter valued at about $126,000. Finally, Adalta Capital Management LLC purchased a new position in United Technologies in the 2nd quarter valued at about $163,000. Hedge funds and other institutional investors own 82.16% of the company’s stock.
Shares of UTX stock opened at $121.84 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12. United Technologies Co. has a one year low of $115.40 and a one year high of $144.15. The stock has a market cap of $97.08 billion, a PE ratio of 18.32, a P/E/G ratio of 1.84 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, topping the 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 for the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter last year, the company posted $1.73 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts anticipate that United Technologies Co. will post 7.18 EPS for the current year.
The business also recently declared 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. This is a boost from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, November 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.41%. United Technologies’s dividend payout ratio (DPR) is presently 44.21%.
A number of equities analysts have weighed in on UTX shares. Zacks Investment Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research report on Tuesday, September 25th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. UBS Group started coverage on shares of United Technologies in a research report on Wednesday, August 15th. They issued a “buy” rating for the company. Wolfe Research set a $147.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research report on Monday, November 26th. Finally, Jefferies Financial Group set a $148.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $151.58.
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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