Stonebridge Capital Advisors LLC continued to hold its stake in shares of United Technologies Corporation (NYSE:UTX) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,969 shares of the conglomerate’s stock at the end of the first quarter. Stonebridge Capital Advisors LLC’s holdings in United Technologies Corporation were worth $221,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of UTX. Fisher Asset Management LLC raised its stake in shares of United Technologies Corporation by 1.3% in the first quarter. Fisher Asset Management LLC now owns 8,535,397 shares of the conglomerate’s stock worth $957,757,000 after buying an additional 106,552 shares in the last quarter. Boston Partners raised its stake in shares of United Technologies Corporation by 3.0% in the first quarter. Boston Partners now owns 5,385,002 shares of the conglomerate’s stock worth $604,251,000 after buying an additional 158,696 shares in the last quarter. Legal & General Group Plc raised its stake in shares of United Technologies Corporation by 3.6% in the first quarter. Legal & General Group Plc now owns 3,682,243 shares of the conglomerate’s stock worth $413,192,000 after buying an additional 128,123 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of United Technologies Corporation by 3.7% in the first quarter. Ameriprise Financial Inc. now owns 3,544,737 shares of the conglomerate’s stock worth $397,774,000 after buying an additional 125,003 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of United Technologies Corporation by 15.8% in the first quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock worth $384,887,000 after buying an additional 468,515 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of United Technologies Corporation (NYSE:UTX) traded up 1.5073% during trading on Wednesday, hitting $116.9973. The stock had a trading volume of 857,377 shares. The stock’s 50 day moving average is $120.87 and its 200-day moving average is $117.09. The company has a market cap of $93.45 billion, a PE ratio of 17.8214 and a beta of 1.06. 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, topping the 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 for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Analysts forecast that United Technologies Corporation will post $6.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders 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. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.41%. United Technologies Corporation’s dividend payout ratio (DPR) is 40.24%.
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UTX has been the topic of a number of research analyst reports. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Tuesday, May 16th. UBS AG lifted their price target on United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Jefferies Group LLC reaffirmed a “buy” rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of United Technologies Corporation in a research note on Thursday, April 27th. Finally, Morgan Stanley lifted their price target on United Technologies Corporation from $120.00 to $123.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target 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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