Parsec Financial Management Inc. boosted its stake in United Technologies Co. (NYSE:UTX) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,962 shares of the conglomerate’s stock after buying an additional 616 shares during the period. Parsec Financial Management Inc.’s holdings in United Technologies were worth $18,729,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BTR Capital Management Inc. lifted its holdings in United Technologies by 0.4% in the 2nd quarter. BTR Capital Management Inc. now owns 92,105 shares of the conglomerate’s stock valued at $11,516,000 after acquiring an additional 375 shares during the last quarter. Squar Milner Financial Services LLC lifted its stake in United Technologies by 13.5% during the second quarter. Squar Milner Financial Services LLC now owns 3,346 shares of the conglomerate’s stock valued at $418,000 after buying an additional 397 shares in the last quarter. Ascension Asset Management LLC lifted its stake in United Technologies by 2.6% during the second quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock valued at $1,972,000 after buying an additional 400 shares in the last quarter. Elmwood Wealth Management Inc. lifted its stake in United Technologies by 5.4% during the third quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock valued at $1,085,000 after buying an additional 400 shares in the last quarter. Finally, FCG Advisors LLC lifted its stake in United Technologies by 12.3% during the second quarter. FCG Advisors LLC now owns 3,678 shares of the conglomerate’s stock valued at $460,000 after buying an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 81.84% of the company’s stock.
UTX stock opened at $127.43 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. United Technologies Co. has a one year low of $115.40 and a one year high of $144.15. The stock has a market cap of $102.07 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.93 and a beta of 1.09.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $16.51 billion during the quarter, compared to analyst estimates of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 earnings per share. Sell-side analysts predict that United Technologies Co. will post 7.26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, November 15th. United Technologies’s dividend payout ratio is 42.11%.
A number of analysts have commented on UTX shares. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. ValuEngine lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Robert W. Baird upped their price objective on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, September 20th. Royal Bank of Canada reduced their price objective on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Finally, Jefferies Financial Group set a $157.00 price objective on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, July 10th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $151.90.
United Technologies Company Profile
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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