Flossbach Von Storch AG reduced its position in shares of United Technologies Corporation (NYSE:UTX) by 55.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 826,512 shares of the conglomerate’s stock after selling 1,013,847 shares during the period. United Technologies Corporation comprises approximately 1.4% of Flossbach Von Storch AG’s holdings, making the stock its 22nd largest position. Flossbach Von Storch AG owned 0.10% of United Technologies Corporation worth $92,743,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Riggs Asset Managment Co. Inc. increased its stake in United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after buying an additional 125 shares during the last quarter. Tortoise Investment Management LLC increased its position in shares of United Technologies Corporation by 2.7% in the fourth quarter. Tortoise Investment Management LLC now owns 1,031 shares of the conglomerate’s stock valued at $113,000 after buying an additional 27 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new position in shares of United Technologies Corporation during the fourth quarter valued at $118,000. Alexandria Capital LLC increased its position 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. Finally, Paragon Capital Management Ltd bought a new stake in shares of United Technologies Corporation during the first quarter valued at about $139,000. 78.81% of the stock is currently owned by institutional investors.
United Technologies Corporation (NYSE:UTX) traded down 0.28% on Tuesday, hitting $118.19. 2,766,344 shares of the stock traded hands. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The company has a market cap of $94.41 billion, a price-to-earnings ratio of 18.00 and a beta of 1.06. The stock has a 50-day moving average price of $121.70 and a 200 day moving average price of $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, beating the Thomson Reuters’ 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 firm had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that United Technologies Corporation will post $6.59 EPS for the current fiscal 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 $0.70 dividend. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.37%. United Technologies Corporation’s dividend payout ratio is 40.24%.
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Several analysts have recently issued reports on UTX shares. Credit Suisse Group reissued a “buy” rating and set a $136.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, July 26th. BidaskClub raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $138.00 price objective (up from $132.00) on shares of United Technologies Corporation in a research report on Monday, July 10th. Zacks Investment Research raised shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a research report on Tuesday, May 30th. Finally, Royal Bank Of Canada reiterated a “neutral” rating on shares of United Technologies Corporation in a research note on Thursday, April 27th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. United Technologies Corporation presently has a consensus rating of “Hold” and a consensus target price of $123.54.
About United Technologies Corporation
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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