Federated Investors Inc. PA boosted its position in shares of United Technologies Corporation (NYSE:UTX) by 22.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,214 shares of the conglomerate’s stock after purchasing an additional 11,851 shares during the period. Federated Investors Inc. PA’s holdings in United Technologies Corporation were worth $7,963,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. boosted its stake in shares of United Technologies Corporation by 14.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 125 shares during the last quarter. Tortoise Investment Management LLC grew its stake in United Technologies Corporation by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 48 shares in the last quarter. Seven Bridges Advisors LLC purchased a new position in United Technologies Corporation during the 2nd quarter valued at about $120,000. Winfield Associates Inc. grew its stake in shares of United Technologies Corporation by 2.9% in the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after buying an additional 29 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of United Technologies Corporation in the 2nd quarter valued at approximately $131,000. 78.33% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, EVP Michael R. Dumais sold 2,986 shares of United Technologies Corporation stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the transaction, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.
Shares of United Technologies Corporation (NYSE:UTX) traded up $0.66 during trading on Tuesday, hitting $117.04. The stock had a trading volume of 2,493,049 shares, compared to its average volume of 3,036,886. The stock has a market capitalization of $93,460.00, a P/E ratio of 17.60, a PEG ratio of 2.10 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 12-month low of $106.85 and a 12-month high of $124.79.
United Technologies Corporation (NYSE:UTX) last released its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.05. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The company had revenue of $15.06 billion during the quarter, compared to analyst estimates of $14.99 billion. During the same period in the prior year, the company posted $1.76 earnings per share. United Technologies Corporation’s quarterly revenue was up 4.9% on a year-over-year basis. equities analysts expect that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be paid a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.39%. United Technologies Corporation’s payout ratio is presently 43.34%.
UTX has been the subject of a number of research analyst reports. Bank of America Corporation reiterated a “buy” rating and set a $140.00 price target on shares of United Technologies Corporation in a report on Wednesday, September 6th. Deutsche Bank AG lowered their price target on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Wednesday, September 6th. Vertical Research cut United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, September 5th. Cowen and Company cut United Technologies Corporation from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $127.00 to $120.00 in a report on Wednesday, September 6th. Finally, Stifel Nicolaus raised their price target on United Technologies Corporation from $122.00 to $124.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $125.15.
About United Technologies Corporation
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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