Oppenheimer & Co. Inc. reduced its stake in United Technologies Corporation (NYSE:UTX) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,829 shares of the conglomerate’s stock after selling 5,624 shares during the period. Oppenheimer & Co. Inc.’s holdings in United Technologies Corporation were worth $9,382,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC raised its stake in United Technologies Corporation by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after buying an additional 48 shares in the last quarter. Seven Bridges Advisors LLC bought a new position in shares of United Technologies Corporation during the second quarter valued at approximately $120,000. Winfield Associates Inc. increased its stake in shares of United Technologies Corporation by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock valued at $126,000 after purchasing an additional 29 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of United Technologies Corporation during the second quarter valued at approximately $131,000. Finally, Alexandria Capital LLC increased its stake in shares of United Technologies Corporation by 0.3% during the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock valued at $132,000 after purchasing an additional 3 shares in the last quarter. 78.33% of the stock is owned by institutional investors.
In related news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the sale, the executive vice president now directly owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.
Shares of United Technologies Corporation (UTX) opened at $117.04 on Wednesday. The company has a market cap of $93,460.00, a price-to-earnings ratio of 17.60, a PEG ratio of 2.10 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a twelve month low of $106.85 and a twelve month high of $124.79.
United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.05. United Technologies Corporation had a net margin of 8.79% and a return on equity of 17.66%. The firm had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. sell-side analysts predict that United Technologies Corporation will post 6.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued 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 Thursday, November 16th. United Technologies Corporation’s dividend payout ratio (DPR) is presently 43.34%.
Several equities research analysts recently issued reports on UTX shares. Cowen and Company restated a “buy” rating and issued a $127.00 target price on shares of United Technologies Corporation in a report on Tuesday, July 25th. BidaskClub upgraded shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Credit Suisse Group reiterated a “buy” rating and issued a $136.00 price target on shares of United Technologies Corporation in a research report on Wednesday, July 26th. Stifel Nicolaus lifted their price target on shares of United Technologies Corporation from $122.00 to $124.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research upgraded shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. United Technologies Corporation has an average rating of “Hold” and an average target price of $125.15.
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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