Heritage Way Advisors LLC lowered its stake in United Technologies Corporation (NYSE:UTX) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,059 shares of the conglomerate’s stock after selling 100 shares during the period. United Technologies Corporation accounts for approximately 1.8% of Heritage Way Advisors LLC’s holdings, making the stock its 20th largest position. Heritage Way Advisors LLC’s holdings in United Technologies Corporation were worth $2,083,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. boosted its stake in United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in United Technologies Corporation by 2.7% in the fourth quarter. Tortoise Investment Management LLC now owns 1,031 shares of the conglomerate’s stock valued at $113,000 after buying an additional 27 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new stake in United Technologies Corporation during the fourth quarter valued at about $118,000. Alexandria Capital LLC raised its position in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares during the last quarter. Finally, Paragon Capital Management Ltd bought a new position in shares of United Technologies Corporation during the first quarter valued at $139,000. 78.81% of the stock is currently owned by institutional investors.
United Technologies Corporation (NYSE:UTX) traded up 0.11% during mid-day trading on Friday, hitting $116.89. 2,090,943 shares of the stock were exchanged. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79. The company has a 50 day moving average price of $121.18 and a 200 day moving average price of $116.91. The stock has a market cap of $93.37 billion, a price-to-earnings ratio of 17.81 and a beta of 1.06.
United Technologies Corporation (NYSE:UTX) last posted its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The firm had revenue of $15.28 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period in the previous year, the company earned $1.82 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that United Technologies Corporation will post $6.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.40%. United Technologies Corporation’s payout ratio is 40.24%.
ILLEGAL ACTIVITY WARNING: “Heritage Way Advisors LLC Has $2.08 Million Position in United Technologies Corporation (UTX)” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://www.com-unik.info/2017/08/11/heritage-way-advisors-llc-sells-100-shares-of-united-technologies-corporation-utx-updated.html.
Several brokerages have recently weighed in on UTX. BidaskClub upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC reiterated a “buy” rating and set a $132.00 price objective (up from $126.00) on shares of United Technologies Corporation in a report on Thursday, April 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $125.00 price objective on shares of United Technologies Corporation in a report on Friday, June 2nd. Sanford C. Bernstein reiterated a “market perform” rating and set a $135.00 price objective (up from $130.00) on shares of United Technologies Corporation in a report on Friday, July 21st. Finally, Deutsche Bank AG increased their price objective on shares of United Technologies Corporation from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $123.54.
About United Technologies Corporation
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.
What are top analysts saying about United Technologies Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for United Technologies Corporation and related companies.