Boston Private Wealth LLC lessened its stake in shares of United Technologies Corporation (NYSE:UTX) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 259,683 shares of the conglomerate’s stock after selling 6,127 shares during the period. United Technologies Corporation accounts for approximately 1.2% of Boston Private Wealth LLC’s investment portfolio, making the stock its 16th biggest position. Boston Private Wealth LLC’s holdings in United Technologies Corporation were worth $31,709,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. raised its position in shares of United Technologies Corporation by 14.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 125 shares during the last quarter. Tortoise Investment Management LLC raised its position in shares of United Technologies Corporation by 5.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 962 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 48 shares during the last quarter. Seven Bridges Advisors LLC acquired a new position in shares of United Technologies Corporation during the 2nd quarter worth about $120,000. Winfield Associates Inc. raised its position in shares of United Technologies Corporation by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after purchasing an additional 29 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in shares of United Technologies Corporation during the 2nd quarter worth about $131,000. Hedge funds and other institutional investors own 78.87% of the company’s stock.
Shares of United Technologies Corporation (NYSE UTX) opened at $121.07 on Friday. United Technologies Corporation has a one year low of $100.74 and a one year high of $124.79. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The firm has a market cap of $96,682.87, a P/E ratio of 18.29, a PEG ratio of 2.18 and a beta of 1.07.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.05. The firm had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies Corporation had a net margin of 8.79% and a return on equity of 17.66%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.76 EPS. sell-side analysts forecast that United Technologies Corporation will post 6.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.31%. United Technologies Corporation’s payout ratio is currently 43.41%.
Several research firms recently weighed in on UTX. Zacks Investment Research downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Cowen and Company reiterated a “buy” rating and issued a $127.00 price objective on shares of United Technologies Corporation in a report on Tuesday, July 25th. BidaskClub downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Morgan Stanley reiterated an “overweight” rating and issued a $138.00 price objective (up previously from $132.00) on shares of United Technologies Corporation in a report on Monday, July 10th. Finally, UBS AG increased their price objective on shares of United Technologies Corporation to $135.00 and gave the company a “buy” rating in a report on Monday, July 10th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $125.15.
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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