Meyer Handelman Co. decreased its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,202 shares of the conglomerate’s stock after selling 898 shares during the period. United Technologies Corporation makes up 1.2% of Meyer Handelman Co.’s portfolio, making the stock its 28th largest position. Meyer Handelman Co.’s holdings in United Technologies Corporation were worth $27,988,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. raised its position in shares of United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares during the period. Alexandria Capital LLC raised 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. Paragon Capital Management Ltd purchased a new position in shares of United Technologies Corporation during the first quarter valued at about $139,000. Exane Derivatives purchased a new position in shares of United Technologies Corporation during the second quarter valued at about $141,000. Finally, Thompson Davis & CO. Inc. raised its position in shares of United Technologies Corporation by 22.9% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock valued at $150,000 after buying an additional 249 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of United Technologies Corporation (NYSE UTX) traded down 1.0481% on Thursday, reaching $116.7632. The company had a trading volume of 1,250,977 shares. The stock has a 50-day moving average price of $120.77 and a 200-day moving average price of $117.09. The stock has a market cap of $93.27 billion, a PE ratio of 17.7857 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 issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.07. The firm had revenue of $15.28 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. Analysts predict that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.
The business 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 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 2.37%. 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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UTX has been the topic of several research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $132.00 price target (up previously from $126.00) on shares of United Technologies Corporation in a research note on Thursday, April 27th. Zacks Investment Research upgraded United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a report on Tuesday, May 16th. BidaskClub upgraded United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. UBS AG upped their price objective on United Technologies Corporation to $135.00 and gave the company a “buy” rating in a report on Monday, July 10th. Finally, Cowen and Company reiterated a “buy” rating and issued a $127.00 price objective on shares of United Technologies Corporation in a report on Tuesday, July 25th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus 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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