MU Investments Co. Ltd. cut its position in United Technologies Corp. (NYSE:UTX) by 45.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,580 shares of the company’s stock after selling 1,300 shares during the period. MU Investments Co. Ltd.’s holdings in United Technologies Corp. were worth $159,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in UTX. Calamos Wealth Management LLC boosted its stake in United Technologies Corp. by 8.7% in the second quarter. Calamos Wealth Management LLC now owns 31,058 shares of the company’s stock worth $3,185,000 after buying an additional 2,475 shares in the last quarter. American Century Companies Inc. boosted its stake in United Technologies Corp. by 13.7% in the second quarter. American Century Companies Inc. now owns 1,793,640 shares of the company’s stock worth $183,938,000 after buying an additional 215,460 shares in the last quarter. Hendershot Investments Inc. boosted its stake in United Technologies Corp. by 10.0% in the second quarter. Hendershot Investments Inc. now owns 32,815 shares of the company’s stock worth $3,365,000 after buying an additional 2,980 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in United Technologies Corp. by 214.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 168,099 shares of the company’s stock worth $17,239,000 after buying an additional 114,695 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its stake in United Technologies Corp. by 5.6% in the second quarter. Confluence Investment Management LLC now owns 290,429 shares of the company’s stock worth $29,784,000 after buying an additional 15,333 shares in the last quarter. 80.18% of the stock is currently owned by hedge funds and other institutional investors.
United Technologies Corp. (NYSE:UTX) traded up 0.16% during trading on Wednesday, reaching $98.93. The company had a trading volume of 3,816,668 shares. United Technologies Corp. has a 52 week low of $83.39 and a 52 week high of $109.83. The company’s 50-day moving average is $103.51 and its 200 day moving average is $103.30. The firm has a market capitalization of $82.80 billion, a price-to-earnings ratio of 11.67 and a beta of 1.11.
United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. The company had revenue of $14.90 billion for the quarter, compared to the consensus estimate of $14.67 billion. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. United Technologies Corp.’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 earnings per share. Equities analysts anticipate that United Technologies Corp. will post $6.58 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.67%. United Technologies Corp.’s payout ratio is currently 31.13%.
A number of research firms have recently commented on UTX. Citigroup Inc. cut United Technologies Corp. from a “buy” rating to a “neutral” rating and increased their target price for the stock from $99.20 to $100.58 in a research note on Monday. Robert W. Baird began coverage on United Technologies Corp. in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $110.00 target price on the stock. Credit Suisse Group AG reaffirmed a “hold” rating and set a $109.00 price objective on shares of United Technologies Corp. in a research report on Friday, September 30th. Zacks Investment Research cut United Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of United Technologies Corp. in a research report on Monday, September 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $110.04.
In related news, VP Charles D. Gill sold 6,202 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $109.00, for a total value of $676,018.00. Following the completion of the sale, the vice president now owns 51,778 shares of the company’s stock, valued at $5,643,802. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert J. Mcdonough sold 3,100 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $107.11, for a total value of $332,041.00. Following the completion of the sale, the insider now directly owns 11,349 shares of the company’s stock, valued at approximately $1,215,591.39. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.
United Technologies Corp. Company Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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