City Holding Co. increased its position in United Technologies Co. (NYSE:UTX) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,241 shares of the conglomerate’s stock after acquiring an additional 591 shares during the period. United Technologies accounts for about 1.1% of City Holding Co.’s investment portfolio, making the stock its 18th biggest holding. City Holding Co.’s holdings in United Technologies were worth $3,603,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in United Technologies by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 54,813,285 shares of the conglomerate’s stock worth $6,693,250,000 after purchasing an additional 848,623 shares during the period. BlackRock Inc. boosted its stake in United Technologies by 0.3% in the 2nd quarter. BlackRock Inc. now owns 44,095,986 shares of the conglomerate’s stock worth $5,384,561,000 after purchasing an additional 133,036 shares during the period. FMR LLC boosted its stake in United Technologies by 13.2% in the 2nd quarter. FMR LLC now owns 20,590,579 shares of the conglomerate’s stock worth $2,514,316,000 after purchasing an additional 2,401,795 shares during the period. Capital Research Global Investors boosted its stake in United Technologies by 3.6% in the 2nd quarter. Capital Research Global Investors now owns 8,779,642 shares of the conglomerate’s stock worth $1,072,082,000 after purchasing an additional 304,989 shares during the period. Finally, Boston Partners boosted its stake in United Technologies by 5.3% in the 3rd quarter. Boston Partners now owns 5,467,419 shares of the conglomerate’s stock worth $634,658,000 after purchasing an additional 274,184 shares during the period. 79.87% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the stock. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus reissued a “hold” rating and set a $146.00 target price (up previously from $124.00) on shares of United Technologies in a research note on Thursday, January 25th. Cowen reissued a “hold” rating and set a $141.00 target price on shares of United Technologies in a research note on Thursday, January 25th. UBS Group assumed coverage on shares of United Technologies in a research note on Tuesday, January 23rd. They set a “buy” rating and a $158.00 target price for the company. Finally, Goldman Sachs Group raised shares of United Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $137.07.
Shares of United Technologies Co. (NYSE:UTX) opened at $129.26 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.80. United Technologies Co. has a 52 week low of $107.05 and a 52 week high of $139.24. The stock has a market cap of $103,380.00, a price-to-earnings ratio of 19.70, a P/E/G ratio of 2.14 and a beta of 1.08.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.04. United Technologies had a net margin of 7.61% and a return on equity of 17.35%. The business had revenue of $15.68 billion during the quarter, compared to analyst estimates of $15.34 billion. During the same quarter in the previous year, the business earned $1.56 EPS. United Technologies’s quarterly revenue was up 7.0% compared to the same quarter last year. research analysts forecast that United Technologies Co. will post 7.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 16th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, February 15th. United Technologies’s payout ratio is presently 42.68%.
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United Technologies Company 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.
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