Founders Capital Management held its stake in United Technologies Corporation (NYSE:UTX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,614 shares of the conglomerate’s stock at the end of the second quarter. Founders Capital Management’s holdings in United Technologies Corporation were worth $563,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Riggs Asset Managment Co. Inc. boosted 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 in the last quarter. Alexandria Capital LLC boosted its stake in United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock worth $121,000 after buying an additional 4 shares during the period. Exane Derivatives bought a new stake in United Technologies Corporation during the second quarter worth approximately $141,000. Proficio Capital Partners LLC boosted its stake in United Technologies Corporation by 42.3% in the first quarter. Proficio Capital Partners LLC now owns 1,298 shares of the conglomerate’s stock worth $158,000 after buying an additional 386 shares during the period. Finally, Thompson Davis & CO. Inc. boosted its stake in United Technologies Corporation by 22.9% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock worth $150,000 after buying an additional 249 shares during the period. Institutional investors and hedge funds own 78.81% of the company’s stock.
United Technologies Corporation (NYSE UTX) remained flat at $117.20 during trading on Thursday. 1,421,826 shares of the company traded hands. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The firm’s 50 day moving average price is $121.48 and its 200-day moving average price is $116.87. The stock has a market capitalization of $93.62 billion, a PE ratio of 17.85 and a beta of 1.06.
United Technologies Corporation (NYSE:UTX) last released 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 business had revenue of $15.28 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the previous year, the firm posted $1.82 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that United Technologies Corporation will post $6.58 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Wednesday, August 16th. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s payout ratio is 40.24%.
A number of research firms recently commented on UTX. BidaskClub cut shares of United Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research note on Tuesday, May 16th. Stifel Nicolaus reiterated a “hold” rating and issued a $126.00 target price on shares of United Technologies Corporation in a research note on Friday, July 7th. Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of United Technologies Corporation in a research note on Wednesday, May 31st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. United Technologies Corporation 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.
Receive News & Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
