Swiss National Bank Raises Position in United Technologies Corporation (UTX)

Swiss National Bank increased its position in shares of United Technologies Corporation (NYSE:UTX) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,797,221 shares of the conglomerate’s stock after purchasing an additional 25,500 shares during the quarter. Swiss National Bank owned 0.35% of United Technologies Corporation worth $341,569,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of UTX. Point View Wealth Management Inc. acquired a new position in United Technologies Corporation during the first quarter worth $262,000. Harbour Investment Management LLC acquired a new position in United Technologies Corporation during the first quarter worth $2,266,000. Comerica Bank raised its holdings in United Technologies Corporation by 6.5% during the first quarter. Comerica Bank now owns 279,695 shares of the conglomerate’s stock worth $33,222,000 after purchasing an additional 17,058 shares during the last quarter. Nelson Roberts Investment Advisors LLC raised its holdings in United Technologies Corporation by 2.1% during the first quarter. Nelson Roberts Investment Advisors LLC now owns 42,790 shares of the conglomerate’s stock worth $4,801,000 after purchasing an additional 881 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in United Technologies Corporation by 2.3% during the first quarter. Trust Co. of Vermont now owns 131,093 shares of the conglomerate’s stock worth $14,710,000 after buying an additional 2,931 shares in the last quarter. 78.33% of the stock is owned by hedge funds and other institutional investors.

Shares of United Technologies Corporation (UTX) opened at $116.38 on Tuesday. United Technologies Corporation has a 1 year low of $106.21 and a 1 year high of $124.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.91 and a current ratio of 1.31. The stock has a market capitalization of $93,057.35, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.10 and a beta of 1.07.

United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. equities research analysts forecast that United Technologies Corporation will post 6.61 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, November 16th. United Technologies Corporation’s dividend payout ratio (DPR) is presently 43.41%.

Several equities analysts have weighed in on UTX shares. Zacks Investment Research downgraded United Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Cowen and Company downgraded United Technologies Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $127.00 to $120.00 in a research report on Wednesday, September 6th. Bank of America Corporation reissued a “buy” rating and set a $140.00 price target on shares of United Technologies Corporation in a research report on Wednesday, September 6th. Jefferies Group LLC reissued a “buy” rating and set a $139.00 price target on shares of United Technologies Corporation in a research report on Tuesday, August 29th. Finally, Credit Suisse Group reissued a “buy” rating and set a $136.00 price target on shares of United Technologies Corporation in a research report on Wednesday, July 26th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $125.15.

In other United Technologies Corporation news, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at $3,332,757.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

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United Technologies Corporation Profile

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.

Institutional Ownership by Quarter for United Technologies Corporation (NYSE:UTX)

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