LS Investment Advisors LLC lowered its stake in shares of United Technologies Corporation (NYSE:UTX) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,923 shares of the conglomerate’s stock after selling 2,390 shares during the period. United Technologies Corporation accounts for 1.1% of LS Investment Advisors LLC’s investment portfolio, making the stock its 13th largest position. LS Investment Advisors LLC’s holdings in United Technologies Corporation were worth $16,711,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in UTX. AQR Capital Management LLC increased its stake in United Technologies Corporation by 5.5% in the fourth quarter. AQR Capital Management LLC now owns 1,168,611 shares of the conglomerate’s stock valued at $128,103,000 after buying an additional 61,329 shares during the period. HCR Wealth Advisors purchased a new stake in United Technologies Corporation during the fourth quarter valued at $512,000. Ladenburg Thalmann Financial Services Inc. increased its stake in United Technologies Corporation by 28.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 94,857 shares of the conglomerate’s stock valued at $10,368,000 after buying an additional 21,055 shares during the period. Congress Asset Management Co. MA purchased a new stake in United Technologies Corporation during the fourth quarter valued at $809,000. Finally, Cigna Investments Inc. New purchased a new stake in United Technologies Corporation during the fourth quarter valued at $3,121,000. 78.39% of the stock is currently owned by institutional investors.
United Technologies Corporation (UTX) opened at 118.69 on Friday. The company has a market capitalization of $95.10 billion, a price-to-earnings ratio of 18.48 and a beta of 1.07. The stock has a 50 day moving average price of $121.82 and a 200 day moving average price of $116.32. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business had revenue of $15.28 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the prior year, the business posted $1.82 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Equities research analysts forecast that United Technologies Corporation will post $6.58 earnings per share for the current year.
The firm also recently declared 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 annualized dividend and a yield of 2.36%. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio is presently 40.24%.
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Several equities research analysts recently weighed in on UTX shares. Zacks Investment Research raised United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 4th. Royal Bank Of Canada reissued a “neutral” rating on shares of United Technologies Corporation in a report on Thursday, April 27th. Jefferies Group LLC reissued a “buy” rating and set a $132.00 price objective (up previously from $126.00) on shares of United Technologies Corporation in a report on Thursday, April 27th. Deutsche Bank AG raised their price objective on United Technologies Corporation from $115.00 to $120.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Morgan Stanley raised their price objective on United Technologies Corporation from $120.00 to $123.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. United Technologies Corporation presently has an average rating of “Hold” and a consensus target price of $123.54.
In other news, insider Philippe Delpech sold 7,696 shares of the stock in a transaction dated 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 directly owns 63,621 shares in the company, valued at $7,654,878.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 2,702 shares of the 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 sale, the vice president now owns 5,000 shares of the company’s stock, valued at $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.
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