Intrust Bank NA increased its stake in United Technologies Corporation (NYSE:UTX) by 1.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,448 shares of the conglomerate’s stock after buying an additional 38 shares during the period. Intrust Bank NA’s holdings in United Technologies Corporation were worth $274,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in United Technologies Corporation during the fourth quarter worth approximately $12,182,000. Independent Advisor Alliance bought a new position in United Technologies Corporation during the fourth quarter worth approximately $1,582,000. Archford Capital Strategies LLC raised its position in United Technologies Corporation by 13.5% in the fourth quarter. Archford Capital Strategies LLC now owns 1,970 shares of the conglomerate’s stock worth $215,000 after buying an additional 235 shares in the last quarter. Heritage Way Advisors LLC acquired a new position in United Technologies Corporation during the fourth quarter valued at about $1,832,000. Finally, IFM Investors Pty Ltd acquired a new position in United Technologies Corporation during the fourth quarter valued at about $1,106,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.
United Technologies Corporation (UTX) opened at 115.48 on Friday. The company has a market capitalization of $92.24 billion, a price-to-earnings ratio of 17.59 and a beta of 1.06. The company’s 50-day moving average is $120.41 and its 200-day moving average is $117.13. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79.
United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period in the prior year, the business posted $1.82 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that United Technologies Corporation will post $6.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio (DPR) is presently 42.68%.
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A number of research firms recently commented on UTX. Zacks Investment Research lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Cowen and Company reissued a “buy” rating and set a $127.00 target price on shares of United Technologies Corporation in a research note on Tuesday, July 25th. BidaskClub lowered shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $138.00 price objective (up previously from $132.00) on shares of United Technologies Corporation in a research note on Monday, July 10th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a report on Friday, July 7th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average 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.
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