TD Asset Management Inc. increased its holdings in shares of United Technologies Corporation (NYSE:UTX) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,590,789 shares of the conglomerate’s stock after acquiring an additional 21,532 shares during the quarter. TD Asset Management Inc. owned about 0.20% of United Technologies Corporation worth $194,251,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Riggs Asset Managment Co. Inc. raised its stake in United Technologies Corporation by 14.3% during the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 125 shares during the period. Winfield Associates Inc. raised its stake in United Technologies Corporation by 2.9% during the second quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 29 shares during the period. Alexandria Capital LLC raised its stake in United Technologies Corporation by 0.3% during the second quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after purchasing an additional 3 shares during the period. Exane Derivatives purchased a new position in United Technologies Corporation during the second quarter worth about $141,000. Finally, Thompson Davis & CO. Inc. raised its stake in United Technologies Corporation by 22.9% during the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock worth $150,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 78.82% of the company’s stock.
Shares of United Technologies Corporation (UTX) traded down 0.72% during midday trading on Friday, reaching $119.07. 2,852,800 shares of the company were exchanged. The company has a market capitalization of $95.11 billion, a PE ratio of 18.14 and a beta of 1.05. United Technologies Corporation has a 52-week low of $99.99 and a 52-week high of $124.79. The firm’s 50 day moving average is $115.89 and its 200-day moving average is $118.57.
United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same period in the previous year, the business earned $1.76 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast 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, December 10th. Shareholders of record on Friday, November 17th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio (DPR) is presently 43.41%.
A number of equities research analysts have recently issued reports on UTX shares. Jefferies Group LLC restated a “buy” rating on shares of United Technologies Corporation in a report on Thursday, July 27th. Credit Suisse Group restated a “buy” rating and issued a $136.00 price objective on shares of United Technologies Corporation in a report on Wednesday, July 26th. Cowen and Company restated a “buy” rating and issued a $127.00 price objective on shares of United Technologies Corporation in a report on Tuesday, July 25th. UBS AG boosted their price target on shares of United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Finally, BidaskClub upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $125.15.
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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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