Fairfield Bush & CO. trimmed its holdings in United Technologies Co. (NYSE:UTX) by 24.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,127 shares of the conglomerate’s stock after selling 1,300 shares during the period. Fairfield Bush & CO.’s holdings in United Technologies were worth $577,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. BTR Capital Management Inc. lifted its stake in shares of 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 purchasing an additional 375 shares in the last quarter. Ascension Asset Management LLC lifted its position in United Technologies by 2.6% during the 2nd quarter. Ascension Asset Management LLC now owns 15,775 shares of the conglomerate’s stock worth $1,972,000 after acquiring an additional 400 shares in the last quarter. Elmwood Wealth Management Inc. lifted its position in United Technologies by 5.4% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,763 shares of the conglomerate’s stock worth $1,085,000 after acquiring an additional 400 shares in the last quarter. Howe & Rusling Inc. lifted its position in United Technologies by 13.3% during the 3rd quarter. Howe & Rusling Inc. now owns 3,400 shares of the conglomerate’s stock worth $475,000 after acquiring an additional 400 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in United Technologies by 2.9% during the 2nd quarter. Parallel Advisors LLC now owns 14,643 shares of the conglomerate’s stock worth $1,830,000 after acquiring an additional 406 shares in the last quarter. 82.10% of the stock is currently owned by hedge funds and other institutional investors.
UTX stock opened at $120.87 on Thursday. 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 52-week low of $115.40 and a 52-week high of $144.15. The company has a market cap of $97.59 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.07.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The company had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the previous year, the business earned $1.73 EPS. United Technologies’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that United Technologies Co. will post 7.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, November 15th. This is an increase from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 annualized dividend and a yield of 2.43%. United Technologies’s payout ratio is currently 44.21%.
Several research firms recently commented on UTX. Cowen reissued a “hold” rating and set a $141.00 price target on shares of United Technologies in a research report on Thursday. UBS Group began coverage on United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Royal Bank of Canada reduced their price target on United Technologies to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. Finally, Zacks Investment Research raised United Technologies from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Tuesday, September 25th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $151.58.
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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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