Bailard Inc. grew its position in United Technologies Co. (NYSE:UTX) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,443 shares of the conglomerate’s stock after purchasing an additional 1,044 shares during the period. Bailard Inc.’s holdings in United Technologies were worth $1,320,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Baldwin Brothers Inc. MA boosted its stake in shares of United Technologies by 45.3% during the 3rd quarter. Baldwin Brothers Inc. MA now owns 7,238 shares of the conglomerate’s stock worth $1,012,000 after acquiring an additional 2,257 shares in the last quarter. Wade G W & Inc. boosted its stake in shares of United Technologies by 1.8% during the 3rd quarter. Wade G W & Inc. now owns 100,341 shares of the conglomerate’s stock worth $14,029,000 after acquiring an additional 1,808 shares in the last quarter. Oakworth Capital Inc. boosted its stake in shares of United Technologies by 17.6% during the 3rd quarter. Oakworth Capital Inc. now owns 3,929 shares of the conglomerate’s stock worth $550,000 after acquiring an additional 589 shares in the last quarter. American International Group Inc. boosted its stake in shares of United Technologies by 3.6% during the 3rd quarter. American International Group Inc. now owns 387,724 shares of the conglomerate’s stock worth $54,208,000 after acquiring an additional 13,535 shares in the last quarter. Finally, Sun Life Financial INC boosted its stake in shares of United Technologies by 546.5% during the 2nd quarter. Sun Life Financial INC now owns 6,265 shares of the conglomerate’s stock worth $784,000 after acquiring an additional 5,296 shares in the last quarter. 82.10% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on UTX. Cowen reiterated a “hold” rating and set a $141.00 price target on shares of United Technologies in a research note on Thursday. UBS Group began coverage on United Technologies in a research note on Wednesday, August 15th. They set a “buy” rating for the company. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. Royal Bank of Canada decreased their price target on United Technologies to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, October 24th. Finally, Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Tuesday, September 25th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $151.58.
Shares of NYSE:UTX opened at $121.45 on Friday. United Technologies Co. has a twelve month low of $115.40 and a twelve month high of $144.15. The company has a market cap of $96.81 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. 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 (NYSE:UTX) last announced its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, beating 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 firm had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts forecast that United Technologies Co. will post 7.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a dividend of $0.735 per share. This is an increase from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, November 15th. This represents a $2.94 annualized dividend and a yield of 2.42%. United Technologies’s dividend payout ratio is presently 44.21%.
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About United Technologies
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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