Regent Investment Management LLC reduced its position in shares of United Technologies Corporation (NYSE:UTX) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,355 shares of the conglomerate’s stock after selling 100 shares during the period. Regent Investment Management LLC’s holdings in United Technologies Corporation were worth $898,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Janus Capital Management LLC raised its position in shares of United Technologies Corporation by 39.9% in the fourth quarter. Janus Capital Management LLC now owns 264,410 shares of the conglomerate’s stock worth $28,985,000 after buying an additional 75,474 shares in the last quarter. Moloney Securities Asset Management LLC bought a new position in shares of United Technologies Corporation during the fourth quarter worth about $537,000. Intellectus Partners LLC bought a new position in shares of United Technologies Corporation during the fourth quarter worth about $479,000. Fiera Capital Corp raised its position in shares of United Technologies Corporation by 11.6% in the fourth quarter. Fiera Capital Corp now owns 2,468,855 shares of the conglomerate’s stock worth $270,636,000 after buying an additional 256,287 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of United Technologies Corporation by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 14,123,545 shares of the conglomerate’s stock worth $1,548,237,000 after buying an additional 157,409 shares in the last quarter. Hedge funds and other institutional investors own 78.98% of the company’s stock.
Shares of United Technologies Corporation (UTX) opened at 122.63 on Wednesday. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The stock has a market capitalization of $98.25 billion, a price-to-earnings ratio of 19.10 and a beta of 1.07. The firm’s 50-day moving average is $121.72 and its 200-day moving average is $115.90.
United Technologies Corporation (NYSE:UTX) last posted its earnings results on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The company had revenue of $13.82 billion during the quarter, compared to analyst estimates of $13.50 billion. United Technologies Corporation had a return on equity of 18.10% and a net margin of 9.10%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.47 EPS. On average, analysts predict that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be given a dividend of $0.70 per share. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s payout ratio is presently 41.19%.
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A number of equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Morgan Stanley reiterated an “overweight” rating and issued a $138.00 target price (up previously from $132.00) on shares of United Technologies Corporation in a research report on Monday, July 10th. Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a research report on Friday, July 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $126.00 target price on shares of United Technologies Corporation in a research report on Friday, July 7th. Finally, UBS AG increased their target price on shares of United Technologies Corporation to $135.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $122.60.
In other news, VP Robert J. Bailey sold 2,702 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total transaction of $322,970.06. Following the completion of the transaction, the vice president now directly owns 5,000 shares in the company, valued at approximately $597,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Philippe Delpech sold 7,696 shares of the business’s 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 transaction, the insider now owns 63,621 shares of the company’s stock, valued at $7,654,878.72. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.
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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