Stonebridge Capital Management Inc. decreased its position in United Technologies Corp. (NYSE:UTX) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 3,751 shares of the company’s stock after selling 2 shares during the period. Stonebridge Capital Management Inc.’s holdings in United Technologies Corp. were worth $384,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of UTX. Lodestar Investment Counsel LLC IL increased its position in United Technologies Corp. by 3.0% in the second quarter. Lodestar Investment Counsel LLC IL now owns 174,686 shares of the company’s stock worth $17,914,000 after buying an additional 5,038 shares during the period. Bank of Montreal Can bought a new stake in shares of United Technologies Corp. during the second quarter valued at approximately $100,023,000. Adage Capital Partners GP L.L.C. increased its stake in shares of United Technologies Corp. by 92.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,743,598 shares of the company’s stock valued at $174,534,000 after buying an additional 837,588 shares during the period. Dearborn Partners LLC increased its stake in shares of United Technologies Corp. by 2.7% in the second quarter. Dearborn Partners LLC now owns 156,790 shares of the company’s stock valued at $16,079,000 after buying an additional 4,105 shares during the period. Finally, Thomaspartners Inc. increased its stake in shares of United Technologies Corp. by 8.4% in the first quarter. Thomaspartners Inc. now owns 1,276,500 shares of the company’s stock valued at $127,778,000 after buying an additional 99,359 shares during the period. 80.18% of the stock is currently owned by institutional investors and hedge funds.
United Technologies Corp. (NYSE:UTX) traded up 0.31% during midday trading on Friday, reaching $100.16. The company had a trading volume of 3,172,007 shares. United Technologies Corp. has a 52 week low of $83.39 and a 52 week high of $109.83. The firm has a 50-day moving average price of $102.80 and a 200-day moving average price of $103.25. The company has a market capitalization of $83.83 billion, a price-to-earnings ratio of 11.81 and a beta of 1.11.
United Technologies Corp. (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.14. United Technologies Corp. had a net margin of 12.79% and a return on equity of 18.14%. The company earned $14.90 billion during the quarter, compared to analyst estimates of $14.67 billion. During the same period in the previous year, the business earned $1.81 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts expect that United Technologies Corp. will post $6.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Friday, November 18th will be issued a $0.66 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $2.64 dividend on an annualized basis and a yield of 2.64%. United Technologies Corp.’s payout ratio is currently 31.13%.
Several brokerages have recently commented on UTX. Citigroup Inc. downgraded United Technologies Corp. from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $99.20 to $100.58 in a research note on Monday. Credit Suisse Group AG reissued a “hold” rating and issued a $109.00 price objective on shares of United Technologies Corp. in a research note on Friday, September 30th. Jefferies Group reissued a “buy” rating and issued a $118.00 price objective on shares of United Technologies Corp. in a research note on Wednesday, July 27th. Wells Fargo & Co. reissued an “outperform” rating on shares of United Technologies Corp. in a research note on Tuesday, September 13th. Finally, Bank of America Corp. reissued a “buy” rating and issued a $130.00 price objective (up from $115.00) on shares of United Technologies Corp. in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $110.04.
In related news, insider Robert J. Mcdonough sold 3,100 shares of the business’s 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 transaction, the insider now directly owns 11,349 shares in the company, valued at approximately $1,215,591.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Charles D. Gill sold 6,202 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $109.00, for a total transaction of $676,018.00. Following the completion of the transaction, the vice president now owns 51,778 shares of the company’s stock, valued at $5,643,802. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.
About United Technologies Corp.
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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