Deprince Race & Zollo Inc. lessened its holdings in United Technologies Corporation (NYSE:UTX) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 214,218 shares of the conglomerate’s stock after selling 26,559 shares during the period. Deprince Race & Zollo Inc.’s holdings in United Technologies Corporation were worth $26,158,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in UTX. Brookstone Capital Management lifted its stake in United Technologies Corporation by 2.9% during the 1st quarter. Brookstone Capital Management now owns 2,617 shares of the conglomerate’s stock worth $294,000 after acquiring an additional 74 shares in the last quarter. Markel Corp lifted its stake in United Technologies Corporation by 8.4% during the 1st quarter. Markel Corp now owns 135,500 shares of the conglomerate’s stock worth $15,204,000 after acquiring an additional 10,500 shares in the last quarter. Ariel Capital Advisors LLC lifted its stake in United Technologies Corporation by 350.3% during the 1st quarter. Ariel Capital Advisors LLC now owns 17,923 shares of the conglomerate’s stock worth $2,011,000 after acquiring an additional 13,943 shares in the last quarter. Jennison Associates LLC lifted its stake in United Technologies Corporation by 7.0% during the 1st quarter. Jennison Associates LLC now owns 1,420,471 shares of the conglomerate’s stock worth $159,391,000 after acquiring an additional 92,936 shares in the last quarter. Finally, Advisor Partners LLC lifted its stake in United Technologies Corporation by 1.0% during the 1st quarter. Advisor Partners LLC now owns 12,498 shares of the conglomerate’s stock worth $1,402,000 after acquiring an additional 118 shares in the last quarter. 78.87% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on UTX shares. Bank of America Corporation reissued a “buy” rating and set a $140.00 target price on shares of United Technologies Corporation in a research note on Wednesday, September 6th. Deutsche Bank AG decreased their target price on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Wednesday, September 6th. Vertical Research lowered United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, September 5th. Cowen and Company lowered United Technologies Corporation from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $127.00 to $120.00 in a research note on Wednesday, September 6th. Finally, Credit Suisse Group reissued a “buy” rating and set a $136.00 target price on shares of United Technologies Corporation in a research note on Wednesday, July 26th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $125.15.
United Technologies Corporation (UTX) opened at 119.76 on Wednesday. The stock has a market cap of $95.66 billion, a P/E ratio of 18.24 and a beta of 1.05. United Technologies Corporation has a 12-month low of $100.52 and a 12-month high of $124.79. The stock has a 50 day moving average price of $117.00 and a 200-day moving average price of $118.77.
United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.05. United Technologies Corporation had a return on equity of 17.66% and a net margin of 8.79%. The business had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that United Technologies Corporation will post $6.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio (DPR) is 43.41%.
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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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