Forward Management LLC trimmed its position in shares of United Technologies Co. (NYSE:UTX) by 4.1% during the fourth quarter, HoldingsChannel reports. The firm owned 12,517 shares of the conglomerate’s stock after selling 532 shares during the quarter. Forward Management LLC’s holdings in United Technologies were worth $1,598,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in UTX. FMR LLC lifted its stake in United Technologies by 13.2% during the second quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares in the last quarter. Stifel Financial Corp increased its position in shares of United Technologies by 14,827.8% during the third quarter. Stifel Financial Corp now owns 1,079,875 shares of the conglomerate’s stock worth $125,442,000 after acquiring an additional 1,072,641 shares during the period. Vanguard Group Inc. increased its position in shares of United Technologies by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after acquiring an additional 848,623 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of United Technologies by 50.9% during the second quarter. Parametric Portfolio Associates LLC now owns 2,244,427 shares of the conglomerate’s stock worth $274,067,000 after acquiring an additional 756,600 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of United Technologies by 325.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 880,900 shares of the conglomerate’s stock worth $107,567,000 after acquiring an additional 673,800 shares during the period. Institutional investors own 82.38% of the company’s stock.
A number of analysts have recently weighed in on UTX shares. Atlantic Securities raised United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Goldman Sachs Group raised United Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Robert W. Baird raised United Technologies from a “neutral” rating to an “outperform” rating in a research report on Friday, January 5th. Cowen reaffirmed a “hold” rating and set a $141.00 price objective on shares of United Technologies in a research report on Thursday, January 25th. Finally, Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $151.00 price objective on the stock in a research report on Saturday, January 20th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. United Technologies presently has an average rating of “Buy” and an average price target of $137.20.
United Technologies Co. (NYSE:UTX) opened at $129.58 on Thursday. The company has a market capitalization of $103,640.00, a price-to-earnings ratio of 19.75, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. United Technologies Co. has a twelve month low of $109.10 and a twelve month high of $139.24.
United Technologies (NYSE:UTX) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $1.60 EPS for the quarter, beating the consensus estimate of $1.56 by $0.04. The firm had revenue of $15.68 billion for the quarter, compared to analyst estimates of $15.34 billion. United Technologies had a return on equity of 17.35% and a net margin of 7.61%. United Technologies’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.56 earnings per share. equities analysts expect that United Technologies Co. will post 7.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Friday, February 16th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.16%. The ex-dividend date was Thursday, February 15th. United Technologies’s dividend payout ratio (DPR) is presently 42.68%.
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United Technologies 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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