Acropolis Investment Management LLC raised its position in shares of United Technologies Co. (NYSE:UTX) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,892 shares of the conglomerate’s stock after buying an additional 169 shares during the period. Acropolis Investment Management LLC’s holdings in United Technologies were worth $637,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of United Technologies by 13.3% in the fourth quarter. BlackRock Inc. now owns 54,035,145 shares of the conglomerate’s stock valued at $5,753,662,000 after purchasing an additional 6,347,718 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of United Technologies by 0.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,219,419 shares of the conglomerate’s stock valued at $1,620,563,000 after purchasing an additional 61,785 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of United Technologies by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after purchasing an additional 1,293,517 shares in the last quarter. Northern Trust Corp increased its holdings in shares of United Technologies by 9.5% in the fourth quarter. Northern Trust Corp now owns 9,810,008 shares of the conglomerate’s stock valued at $1,044,569,000 after purchasing an additional 849,182 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of United Technologies in the fourth quarter valued at approximately $824,350,000. 80.61% of the stock is owned by institutional investors.
UTX has been the subject of a number of research reports. Seaport Global Securities raised shares of United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 price target for the company in a report on Monday, June 10th. Cowen reaffirmed a “hold” rating and set a $13.00 target price on shares of AMAG Pharmaceuticals in a report on Monday, June 24th. Vertical Research raised shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Friday, June 14th. Royal Bank of Canada set a GBX 5,200 ($67.95) target price on shares of London Stock Exchange Group and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, William Blair reaffirmed a “hold” rating on shares of United Technologies in a report on Monday, June 10th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $151.21.
UTX traded up $1.99 during trading on Tuesday, reaching $134.94. 7,578,284 shares of the company’s stock were exchanged, compared to its average volume of 3,891,183. The firm has a fifty day moving average of $130.18. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.13 and a quick ratio of 0.79. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The firm has a market cap of $114.16 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.89 and a beta of 1.23.
United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. The company had revenue of $19.63 billion for the quarter, compared to analysts’ expectations of $19.58 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $1.97 earnings per share. Equities research analysts forecast that United Technologies Co. will post 7.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.18%. United Technologies’s dividend payout ratio is 38.63%.
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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