Tokio Marine Asset Management Co. Ltd. lowered its stake in United Technologies Corp. (NYSE:UTX) by 16.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,479 shares of the company’s stock after selling 6,549 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in United Technologies Corp. were worth $3,331,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in United Technologies Corp. during the second quarter worth about $100,023,000. Adage Capital Partners GP L.L.C. increased its position in 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 worth $174,534,000 after buying an additional 837,588 shares during the last quarter. Lazard Asset Management LLC increased its position in United Technologies Corp. by 12.2% in the first quarter. Lazard Asset Management LLC now owns 2,989,526 shares of the company’s stock worth $299,250,000 after buying an additional 325,314 shares during the last quarter. Franklin Resources Inc. increased its position in United Technologies Corp. by 1.7% in the first quarter. Franklin Resources Inc. now owns 18,076,858 shares of the company’s stock worth $1,809,493,000 after buying an additional 293,635 shares during the last quarter. Finally, International Value Advisers LLC increased its position in United Technologies Corp. by 42.9% in the first quarter. International Value Advisers LLC now owns 818,692 shares of the company’s stock worth $81,951,000 after buying an additional 245,916 shares during the last quarter. Institutional investors and hedge funds own 80.18% of the company’s stock.
United Technologies Corp. (NYSE:UTX) traded up 0.31% during mid-day trading on Friday, reaching $100.16. The company had a trading volume of 3,172,007 shares. United Technologies Corp. has a one year low of $83.39 and a one year high of $109.83. The firm’s 50-day moving average is $102.80 and its 200-day moving average is $103.25. The firm has a market capitalization of $83.83 billion, a P/E ratio of 11.81 and a beta of 1.11.
United Technologies Corp. (NYSE:UTX) last released its earnings results on Tuesday, July 26th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.14. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The firm had revenue of $14.90 billion for the quarter, compared to analysts’ expectations of $14.67 billion. During the same quarter in the previous year, the business posted $1.81 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities research analysts anticipate that United Technologies Corp. will post $6.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Wednesday, November 16th. United Technologies Corp.’s dividend payout ratio is presently 31.13%.
A number of research analysts have issued reports on the stock. Credit Suisse Group AG restated a “hold” rating on shares of United Technologies Corp. in a research report on Saturday, July 9th. Zacks Investment Research downgraded shares of United Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Deutsche Bank AG restated a “hold” rating and set a $107.00 target price on shares of United Technologies Corp. in a research report on Friday, September 23rd. Wells Fargo & Co. restated an “outperform” rating on shares of United Technologies Corp. in a research report on Tuesday, September 13th. Finally, Jefferies Group restated a “buy” rating and set a $118.00 target price on shares of United Technologies Corp. in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. United Technologies Corp. has a consensus rating of “Hold” and an average price target of $110.04.
In other news, VP Charles D. Gill sold 6,202 shares of United Technologies Corp. stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $109.00, for a total transaction of $676,018.00. Following the sale, the vice president now directly owns 51,778 shares of the company’s stock, valued at $5,643,802. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert J. Mcdonough sold 3,100 shares of United Technologies Corp. stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $107.11, for a total value of $332,041.00. Following the sale, the insider now directly owns 11,349 shares in the company, valued at $1,215,591.39. The disclosure for this sale can be found here. 0.15% of the stock is owned by company 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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