United Technologies Corp. (UTX) Announces $0.66 Quarterly Dividend
United Technologies Corp. (NYSE:UTX) announced a quarterly dividend on Wednesday, October 12th. Shareholders of record on Friday, November 18th will be paid a dividend of 0.66 per share on Saturday, December 10th. This represents a $2.64 annualized dividend and a yield of 2.67%.
Shares of United Technologies Corp. (NYSE:UTX) traded up 0.18% during midday trading on Wednesday, reaching $98.95. The company’s stock had a trading volume of 2,185,754 shares. United Technologies Corp. has a 52-week low of $83.39 and a 52-week high of $109.83. The stock has a 50 day moving average price of $103.51 and a 200-day moving average price of $103.30. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of 11.67 and a beta of 1.11.
United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.14. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The business had revenue of $14.90 billion for the quarter, compared to the consensus estimate of $14.67 billion. During the same period last year, the business earned $1.81 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that United Technologies Corp. will post $6.58 EPS for the current year.
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UTX has been the topic of a number of research analyst reports. Citigroup Inc. lowered United Technologies Corp. from a “buy” rating to a “neutral” rating and raised their target price for the company from $99.20 to $100.58 in a report on Monday. Jefferies Group reaffirmed a “buy” rating on shares of United Technologies Corp. in a report on Tuesday, July 5th. Barclays PLC raised their target price on United Technologies Corp. from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, July 27th. Robert W. Baird initiated coverage on United Technologies Corp. in a report on Wednesday, October 5th. They issued a “neutral” rating and a $110.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of United Technologies Corp. in a report on Sunday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $110.04.
In other United Technologies Corp. news, VP Charles D. Gill sold 7,144 shares of United Technologies Corp. stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $108.05, for a total value of $771,909.20. Following the completion of the transaction, the vice president now owns 55,278 shares in the company, valued at approximately $5,972,787.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert J. Mcdonough sold 3,100 shares of United Technologies Corp. stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $107.11, for a total value of $332,041.00. Following the completion of the transaction, the insider now owns 11,349 shares of the company’s stock, valued at approximately $1,215,591.39. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of UTX. Cornerstone Advisors Inc. increased its position in shares of United Technologies Corp. by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 1,895 shares of the company’s stock valued at $194,000 after buying an additional 5 shares during the last quarter. Holderness Investments Co. increased its stake in United Technologies Corp. by 0.3% in the second quarter. Holderness Investments Co. now owns 12,459 shares of the company’s stock worth $1,278,000 after buying an additional 41 shares during the last quarter. National Asset Management Inc. increased its stake in United Technologies Corp. by 0.3% in the second quarter. National Asset Management Inc. now owns 18,528 shares of the company’s stock worth $1,373,000 after buying an additional 54 shares during the last quarter. SVA Plumb Wealth Management LLC increased its stake in United Technologies Corp. by 2.5% in the second quarter. SVA Plumb Wealth Management LLC now owns 2,525 shares of the company’s stock worth $259,000 after buying an additional 61 shares during the last quarter. Finally, Camelot Portfolios LLC increased its stake in United Technologies Corp. by 1.1% in the second quarter. Camelot Portfolios LLC now owns 8,353 shares of the company’s stock worth $857,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 80.18% of the company’s stock.
United Technologies Corp. 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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.
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