Regent Investment Management LLC lowered its position in 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. The institutional investor 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 hedge funds also recently bought and sold shares of UTX. Viking Global Investors LP acquired a new position in shares of United Technologies Corporation during the fourth quarter valued at approximately $59,353,000. Parallel Advisors LLC acquired a new position in shares of United Technologies Corporation during the fourth quarter valued at approximately $1,713,000. Guggenheim Capital LLC boosted 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 valued at $48,457,000 after buying an additional 93,756 shares in the last quarter. Mutual of Omaha Bank Wealth Management purchased a new stake in United Technologies Corporation during the first quarter valued at about $202,000. Finally, Freestone Capital Holdings LLC boosted its stake in United Technologies Corporation by 2.6% in the fourth quarter. Freestone Capital Holdings LLC now owns 5,555 shares of the conglomerate’s stock valued at $609,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 78.45% of the company’s stock.
United Technologies Corporation (UTX) opened at 121.49 on Friday. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The stock has a market cap of $97.04 billion, a P/E ratio of 18.51 and a beta of 1.06. The company’s 50 day moving average is $121.70 and its 200 day moving average is $116.57.
United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The firm had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.82 EPS. Equities analysts predict that United Technologies Corporation will post $6.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s payout ratio is currently 40.24%.
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Several research firms have recently issued reports on UTX. Zacks Investment Research cut 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, July 25th. BidaskClub cut 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 from $132.00) on shares of United Technologies Corporation in a research report on Monday, July 10th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $125.00 price target on shares of United Technologies Corporation in a research report on Friday, July 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $123.54.
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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