Alliancebernstein L.P. decreased its stake in shares of United Technologies Corporation (NYSE:UTX) by 38.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,631,910 shares of the conglomerate’s stock after selling 1,035,374 shares during the period. Alliancebernstein L.P. owned approximately 0.20% of United Technologies worth $199,273,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in UTX. Tortoise Investment Management LLC grew its stake in shares of United Technologies by 5.3% in the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares during the last quarter. Seven Bridges Advisors LLC acquired a new position in shares of United Technologies in the 2nd quarter worth approximately $120,000. Winfield Associates Inc. grew its stake in shares of United Technologies by 2.9% in the 2nd 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 last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of United Technologies in the 2nd quarter worth approximately $131,000. Finally, Alexandria Capital LLC grew its stake in shares of United Technologies by 0.3% in the 2nd 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 last quarter. 80.19% of the stock is currently owned by hedge funds and other institutional investors.
United Technologies Corporation (NYSE:UTX) traded down $1.33 during mid-day trading on Friday, hitting $120.12. 3,881,741 shares of the company traded hands, compared to its average volume of 2,522,972. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The firm has a market capitalization of $96,986.32, a PE ratio of 18.35, a P/E/G ratio of 2.19 and a beta of 1.07. United Technologies Corporation has a twelve month low of $106.85 and a twelve month high of $124.79.
United Technologies (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping the consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.76 earnings per share. analysts predict that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
The business 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 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies’s dividend payout ratio is currently 43.41%.
Several research firms have recently weighed in on UTX. Royal Bank Of Canada set a $126.00 target price on shares of United Technologies and gave the stock a “hold” rating in a research report on Sunday, November 12th. Cowen reissued a “hold” rating and issued a $120.00 target price on shares of United Technologies in a research report on Friday, November 10th. Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Stifel Nicolaus lifted their target price on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank dropped their target price on shares of United Technologies from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Wednesday, September 6th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. United Technologies currently has a consensus rating of “Hold” and an average target price of $125.15.
In other United Technologies news, EVP Michael R. Dumais sold 2,986 shares of United Technologies stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $120.98, for a total value of $361,246.28. Following the completion of the sale, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Bailey sold 827 shares of United Technologies stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total transaction of $97,635.62. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.
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About United Technologies
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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