Commerce Bank grew its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 490,820 shares of the conglomerate’s stock after buying an additional 4,012 shares during the period. United Technologies makes up 0.8% of Commerce Bank’s investment portfolio, making the stock its 29th biggest holding. Commerce Bank owned about 0.06% of United Technologies worth $59,934,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Tortoise Investment Management LLC raised its position in United Technologies by 5.3% in the second quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares in the last quarter. Seven Bridges Advisors LLC acquired a new position in United Technologies in the second quarter worth about $120,000. Winfield Associates Inc. raised its position in United Technologies by 2.9% in 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 in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in United Technologies in the second quarter worth about $131,000. Finally, Alexandria Capital LLC raised its position in United Technologies by 0.3% in 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 in the last quarter. 80.20% of the stock is owned by institutional investors and hedge funds.
United Technologies Corporation (NYSE UTX) traded up $0.25 on Tuesday, hitting $120.29. 3,149,316 shares of the stock traded hands, compared to its average volume of 3,037,953. United Technologies Corporation has a twelve month low of $106.85 and a twelve month high of $124.79. The company has a market capitalization of $95,924.23, a PE ratio of 18.15, a P/E/G ratio of 2.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.05. United Technologies 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 analyst estimates of $14.99 billion. During the same period in the prior year, the business posted $1.76 earnings per share. United Technologies’s revenue was up 4.9% compared to the same quarter last year. sell-side analysts anticipate that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.33%. United Technologies’s dividend payout ratio is currently 43.41%.
UTX has been the subject of several recent research reports. Bank of America reissued a “buy” rating and issued a $140.00 price target on shares of United Technologies in a research report on Wednesday, September 6th. Cowen reaffirmed a “buy” rating and set a $127.00 price objective on shares of United Technologies in a research note on Tuesday, September 5th. Jefferies Group reaffirmed a “buy” rating and set a $139.00 price objective on shares of United Technologies in a research note on Tuesday, August 29th. Stifel Nicolaus upped their price objective on shares of United Technologies from $122.00 to $124.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $125.00 price objective on shares of United Technologies in a research note on Sunday, August 13th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $125.15.
In other United Technologies news, VP Akhil Johri sold 5,979 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the sale, the vice president now directly owns 23,295 shares in the company, valued at $2,819,393.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares in the company, valued at $3,332,757.04. The disclosure for this sale can be found here. Insiders sold 9,792 shares of company stock worth $1,182,520 over the last 90 days. 0.16% of the stock is currently owned by company insiders.
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United Technologies 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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