IFP Advisors Inc cut its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 21,201 shares of the conglomerate’s stock after selling 157 shares during the period. IFP Advisors Inc’s holdings in United Technologies Corporation were worth $2,379,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of UTX. Norges Bank bought a new position in United Technologies Corporation during the fourth quarter worth $740,872,000. Asset Management One Co. Ltd. boosted its position in United Technologies Corporation by 1,283.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,554,886 shares of the conglomerate’s stock worth $170,546,000 after buying an additional 1,442,524 shares in the last quarter. Putnam Investments LLC boosted its position in United Technologies Corporation by 248.3% in the fourth quarter. Putnam Investments LLC now owns 1,385,091 shares of the conglomerate’s stock worth $151,834,000 after buying an additional 987,378 shares in the last quarter. Renaissance Technologies LLC boosted its position in United Technologies Corporation by 103.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,136,400 shares of the conglomerate’s stock worth $124,572,000 after buying an additional 578,500 shares in the last quarter. Finally, Viking Global Investors LP bought a new position in United Technologies Corporation during the fourth quarter worth $59,353,000. Hedge funds and other institutional investors own 80.37% of the company’s stock.
Shares of United Technologies Corporation (UTX) opened at 121.85 on Tuesday. The company has a 50 day moving average of $120.85 and a 200-day moving average of $114.01. The stock has a market cap of $97.63 billion, a price-to-earnings ratio of 18.97 and a beta of 1.06. United Technologies Corporation has a one year low of $96.89 and a one year high of $122.85.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Wednesday, April 26th. The conglomerate reported $1.48 EPS for the quarter, beating the consensus estimate of $1.39 by $0.09. The company had revenue of $13.82 billion during the quarter, compared to analysts’ expectations of $13.50 billion. United Technologies Corporation had a return on equity of 18.10% and a net margin of 9.10%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 EPS. On average, analysts anticipate that United Technologies Corporation will post $6.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be issued a $0.70 dividend. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 2.30%. United Technologies Corporation’s payout ratio is 41.19%.
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A number of equities analysts have weighed in on UTX shares. Vetr cut shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $114.78 price objective for the company. in a research report on Tuesday, February 21st. Jefferies Group LLC restated a “buy” rating and set a $126.00 price objective on shares of United Technologies Corporation in a research report on Monday, March 13th. Cowen and Company upped their price objective on shares of United Technologies Corporation from $120.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, March 24th. Royal Bank Of Canada restated a “hold” rating and set a $118.00 price objective on shares of United Technologies Corporation in a research report on Friday, March 24th. Finally, Zacks Investment Research cut shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $120.13.
In other United Technologies Corporation news, insider Philippe Delpech sold 7,696 shares of United Technologies Corporation stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $120.32, for a total value of $925,982.72. Following the completion of the sale, the insider now owns 63,621 shares in the company, valued at approximately $7,654,878.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Bailey sold 2,702 shares of United Technologies Corporation stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $119.53, for a total value of $322,970.06. Following the completion of the sale, the vice president now owns 5,000 shares of the company’s stock, valued at approximately $597,650. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.
United Technologies Corporation 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. Otis operates as an elevator and escalator manufacturing, installation and service company.
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