Community Bank N.A. trimmed its position in shares of United Technologies Co. (NYSE:UTX) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,250 shares of the conglomerate’s stock after selling 1,162 shares during the quarter. Community Bank N.A.’s holdings in United Technologies were worth $3,512,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brightworth bought a new position in shares of United Technologies during the third quarter worth $248,000. Franklin Parlapiano Turner & Welch LLC lifted its position in United Technologies by 5.7% in the 3rd quarter. Franklin Parlapiano Turner & Welch LLC now owns 36,950 shares of the conglomerate’s stock valued at $4,289,000 after acquiring an additional 2,006 shares in the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC lifted its position in United Technologies by 0.9% in the 3rd quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 78,108 shares of the conglomerate’s stock valued at $9,067,000 after acquiring an additional 700 shares in the last quarter. Conning Inc. lifted its position in United Technologies by 7.2% in the 3rd quarter. Conning Inc. now owns 261,794 shares of the conglomerate’s stock valued at $30,389,000 after acquiring an additional 17,542 shares in the last quarter. Finally, Heritage Investors Management Corp lifted its position in United Technologies by 1.0% in the 3rd quarter. Heritage Investors Management Corp now owns 177,600 shares of the conglomerate’s stock valued at $20,616,000 after acquiring an additional 1,802 shares in the last quarter. 80.07% of the stock is currently owned by institutional investors.
UTX has been the topic of several research reports. Bank of America reaffirmed a “buy” rating and issued a $140.00 price objective on shares of United Technologies in a research report on Wednesday, September 6th. Cowen reaffirmed a “buy” rating and issued a $127.00 price objective on shares of United Technologies in a research report on Tuesday, September 5th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $126.00 price objective on shares of United Technologies in a research report on Tuesday, October 10th. Deutsche Bank cut their price objective on shares of United Technologies from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. United Technologies currently has an average rating of “Hold” and a consensus price target of $125.63.
Shares of United Technologies Co. (UTX) opened at $127.57 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91. United Technologies Co. has a 52 week low of $106.85 and a 52 week high of $128.49. The stock has a market cap of $101,873.57, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.30 and a beta of 1.07.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same period in the previous year, the business earned $1.76 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. equities research analysts anticipate that United Technologies Co. will post 6.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 10th. Shareholders of record on Friday, November 17th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.19%. United Technologies’s payout ratio is currently 43.41%.
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About United Technologies
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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