Northstar Asset Management LLC lessened its position in shares of United Technologies Co. (NYSE:UTX) by 11.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 24,113 shares of the conglomerate’s stock after selling 3,044 shares during the period. United Technologies makes up about 1.3% of Northstar Asset Management LLC’s portfolio, making the stock its 18th largest holding. Northstar Asset Management LLC’s holdings in United Technologies were worth $3,372,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of UTX. Credit Agricole S A raised its stake in shares of United Technologies by 101.4% during the 2nd quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after acquiring an additional 436 shares in the last quarter. Jolley Asset Management LLC bought a new position in shares of United Technologies during the 2nd quarter worth approximately $114,000. Fort L.P. bought a new position in shares of United Technologies during the 2nd quarter worth approximately $120,000. WP Advisors LLC acquired a new position in United Technologies during the 2nd quarter valued at approximately $126,000. Finally, Kiley Juergens Wealth Management LLC acquired a new position in United Technologies during the 2nd quarter valued at approximately $127,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.
UTX has been the topic of a number of recent analyst reports. Robert W. Baird upped their price target 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. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. ValuEngine lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Finally, Royal Bank of Canada cut their price target on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $151.90.
Shares of United Technologies stock opened at $130.71 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12. United Technologies Co. has a 12-month low of $115.40 and a 12-month high of $144.15. The company has a market cap of $102.48 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 1.94 and a beta of 1.09.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. Research analysts forecast that United Technologies Co. will post 7.27 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a $0.735 dividend. This is an increase from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, November 15th. United Technologies’s dividend payout ratio is 42.11%.
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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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