Bartlett & Co. LLC lowered its stake in United Technologies Corporation (NYSE:UTX) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 396,022 shares of the conglomerate’s stock after selling 3,061 shares during the period. United Technologies Corporation accounts for 2.2% of Bartlett & Co. LLC’s portfolio, making the stock its 9th largest position. Bartlett & Co. LLC’s holdings in United Technologies Corporation were worth $48,358,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in UTX. Alexandria Capital LLC increased its stake in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares during the period. TCI Wealth Advisors Inc. increased its stake in United Technologies Corporation by 0.3% in the first quarter. TCI Wealth Advisors Inc. now owns 2,501 shares of the conglomerate’s stock valued at $281,000 after buying an additional 7 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in United Technologies Corporation by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 1,780 shares of the conglomerate’s stock valued at $200,000 after buying an additional 9 shares during the last quarter. First Command Financial Services Inc. increased its stake in United Technologies Corporation by 0.3% in the first quarter. First Command Financial Services Inc. now owns 3,573 shares of the conglomerate’s stock valued at $401,000 after buying an additional 11 shares during the last quarter. Finally, Kissinger Financial Services LLC increased its stake in United Technologies Corporation by 0.5% in the second quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock valued at $256,000 after buying an additional 11 shares during the last quarter. 78.39% of the stock is owned by institutional investors.
United Technologies Corporation (NYSE:UTX) opened at 118.87 on Friday. The stock has a market capitalization of $93.79 billion, a P/E ratio of 18.11 and a beta of 1.07. The firm’s 50-day moving average is $121.79 and its 200-day moving average is $116.37. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the previous year, the business earned $1.82 EPS. United Technologies Corporation’s revenue was up 2.7% compared to the same quarter last year. Analysts predict that United Technologies Corporation will post $6.58 EPS 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. The ex-dividend date of this dividend is Wednesday, August 16th. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a yield of 2.36%. United Technologies Corporation’s payout ratio is 40.24%.
Several research firms recently issued reports on UTX. Zacks Investment Research downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Cowen and Company reissued a “buy” rating and issued a $127.00 price target on shares of United Technologies Corporation in a research report on Tuesday. BidaskClub downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Morgan Stanley reissued an “overweight” rating and issued a $138.00 price target (up previously from $132.00) on shares of United Technologies Corporation in a research report on Monday, July 10th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $126.00 price target on shares of United Technologies Corporation in a research report on Friday, July 7th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $123.54.
In other United Technologies Corporation news, VP Robert J. Bailey sold 2,702 shares of United Technologies Corporation stock in a transaction on 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 sale, the vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $597,650. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Philippe Delpech sold 7,696 shares of United Technologies Corporation stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total value of $925,982.72. Following the sale, the insider now directly owns 63,621 shares of the company’s stock, valued at $7,654,878.72. The disclosure for this sale can be found here. 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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