Capital Management Corp VA held its position in United Technologies Corporation (NYSE:UTX) during the second quarter, Holdings Channel reports. The institutional investor owned 5,463 shares of the conglomerate’s stock at the end of the second quarter. Capital Management Corp VA’s holdings in United Technologies Corporation were worth $667,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hampstead Capital LLP bought a new position in shares of United Technologies Corporation during the fourth quarter worth approximately $1,644,000. Viking Global Investors LP bought a new position in shares of United Technologies Corporation during the fourth quarter worth approximately $59,353,000. Ancora Advisors LLC raised its position in shares of United Technologies Corporation by 1,813.5% in the fourth quarter. Ancora Advisors LLC now owns 41,887 shares of the conglomerate’s stock worth $4,592,000 after buying an additional 39,698 shares during the period. Focused Wealth Management Inc raised its position in shares of United Technologies Corporation by 81.3% in the fourth quarter. Focused Wealth Management Inc now owns 1,115 shares of the conglomerate’s stock worth $122,000 after buying an additional 500 shares during the period. Finally, Guggenheim Capital LLC raised its position in shares of United Technologies Corporation by 26.9% in the fourth quarter. Guggenheim Capital LLC now owns 442,049 shares of the conglomerate’s stock worth $48,457,000 after buying an additional 93,756 shares during the period. Institutional investors own 78.39% of the company’s stock.
United Technologies Corporation (NYSE:UTX) opened at 123.13 on Tuesday. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The firm has a market cap of $98.66 billion, a price-to-earnings ratio of 19.17 and a beta of 1.07. The firm’s 50 day moving average is $121.88 and its 200-day moving average is $116.22.
United Technologies Corporation (NYSE:UTX) last posted its earnings results on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.09. The firm 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 was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $1.47 earnings per share. On average, equities analysts forecast that United Technologies Corporation will post $6.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be paid a $0.70 dividend. This is an increase 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 dividend yield of 2.27%. United Technologies Corporation’s dividend payout ratio (DPR) is presently 41.19%.
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A number of brokerages recently commented on UTX. Cowen and Company reiterated a “buy” rating and issued a $127.00 price target on shares of United Technologies Corporation in a research note on Tuesday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $135.00 price target (up previously from $130.00) on shares of United Technologies Corporation in a research note on Friday. Zacks Investment Research lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $126.00 price target on shares of United Technologies Corporation in a research note on Friday, July 7th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $123.29.
In other news, 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 transaction, the vice president now owns 5,000 shares in the company, valued at $597,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $925,982.72. Following the completion of the transaction, the insider now owns 63,621 shares of the company’s stock, valued at approximately $7,654,878.72. The disclosure for this sale can be found here. 0.16% of the stock is owned by company 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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