New Mexico Educational Retirement Board reduced its stake in shares of United Technologies Corporation (NYSE:UTX) by 8.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 76,026 shares of the conglomerate’s stock after selling 7,200 shares during the period. New Mexico Educational Retirement Board’s holdings in United Technologies Corporation were worth $8,531,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Intellectus Partners LLC bought a new stake in United Technologies Corporation during the fourth quarter valued at $479,000. Moloney Securities Asset Management LLC bought a new stake in United Technologies Corporation during the fourth quarter valued at $537,000. Janus Capital Management LLC boosted its stake in United Technologies Corporation by 39.9% in the fourth quarter. Janus Capital Management LLC now owns 264,410 shares of the conglomerate’s stock valued at $28,985,000 after buying an additional 75,474 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in United Technologies Corporation during the fourth quarter valued at $132,000. Finally, Wexford Capital LP bought a new stake in United Technologies Corporation during the fourth quarter valued at $1,174,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.
United Technologies Corporation (NYSE UTX) opened at 123.49 on Friday. The firm has a market cap of $98.94 billion, a PE ratio of 19.23 and a beta of 1.07. The company’s 50-day moving average is $121.80 and its 200-day moving average is $116.00. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79.
United Technologies Corporation (NYSE:UTX) last released its earnings results on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The business had revenue of $13.82 billion during the quarter, compared to the consensus estimate of $13.50 billion. United Technologies Corporation had a net margin of 9.10% and a return on equity of 18.10%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 EPS. On average, analysts forecast that United Technologies Corporation will post $6.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio is currently 41.19%.
Several equities research analysts have weighed in on UTX shares. Vetr cut shares of United Technologies Corporation from a “hold” rating to a “sell” rating and set a $108.06 price objective for the company. in a research report on Monday, March 27th. 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. Royal Bank Of Canada restated a “neutral” rating on shares of United Technologies Corporation in a research report on Thursday, April 27th. Jefferies Group LLC restated a “buy” rating and issued a $132.00 price objective (up previously from $126.00) on shares of United Technologies Corporation in a research report on Thursday, April 27th. Finally, Deutsche Bank AG raised their price objective on shares of United Technologies Corporation from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $123.29.
In other United Technologies Corporation news, insider Philippe Delpech sold 7,696 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total transaction of $925,982.72. Following the completion of the sale, the insider now owns 63,621 shares of the company’s stock, valued at approximately $7,654,878.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 2,702 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $119.53, for a total transaction of $322,970.06. Following the sale, the vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $597,650. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
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.
Receive News & Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
