Hartford Investment Management Co. grew its holdings in shares of United Technologies Co. (NYSE:UTX) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,847 shares of the conglomerate’s stock after purchasing an additional 752 shares during the period. Hartford Investment Management Co.’s holdings in United Technologies were worth $18,338,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in UTX. Deprince Race & Zollo Inc. grew its position in shares of United Technologies by 13.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 175,715 shares of the conglomerate’s stock worth $18,710,000 after buying an additional 21,495 shares in the last quarter. Findlay Park Partners LLP acquired a new position in shares of United Technologies during the fourth quarter worth about $119,790,000. Mawer Investment Management Ltd. grew its position in shares of United Technologies by 8.3% during the fourth quarter. Mawer Investment Management Ltd. now owns 1,015,456 shares of the conglomerate’s stock worth $108,097,000 after buying an additional 77,546 shares in the last quarter. Columbia Asset Management grew its position in shares of United Technologies by 1.9% during the fourth quarter. Columbia Asset Management now owns 11,221 shares of the conglomerate’s stock worth $1,195,000 after buying an additional 208 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of United Technologies during the fourth quarter worth about $4,096,000. 80.85% of the stock is owned by institutional investors and hedge funds.
UTX has been the subject of a number of analyst reports. Vertical Research raised United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Friday, June 14th. Bank of America reissued a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of United Technologies in a research report on Thursday, July 25th. William Blair reissued a “hold” rating on shares of United Technologies in a research report on Monday, June 10th. Barclays upped their price target on United Technologies from $149.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley upped their price target on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $152.21.
Shares of UTX opened at $130.81 on Monday. The company has a 50 day simple moving average of $131.32. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.05 and a quick ratio of 0.74. The firm has a market capitalization of $112.87 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.40.
United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. The firm had revenue of $19.63 billion during the quarter, compared to the consensus estimate of $19.58 billion. United Technologies had a return on equity of 16.81% and a net margin of 7.13%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.97 earnings per share. On average, equities research analysts predict that United Technologies Co. will post 8.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, August 15th. United Technologies’s payout ratio is currently 38.63%.
United Technologies Profile
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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