Cambridge Investment Research Advisors Inc. increased its holdings in shares of United Technologies Co. (NYSE:UTX) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,210 shares of the conglomerate’s stock after acquiring an additional 3,645 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in United Technologies were worth $17,226,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Credit Agricole S A increased its stake in shares of United Technologies by 101.4% in the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after purchasing an additional 436 shares during the period. Jolley Asset Management LLC acquired a new stake in shares of United Technologies in the second quarter valued at approximately $114,000. Fort L.P. acquired a new stake in shares of United Technologies in the second quarter valued at approximately $120,000. WP Advisors LLC acquired a new stake in shares of United Technologies in the second quarter valued at approximately $126,000. Finally, Kiley Juergens Wealth Management LLC acquired a new stake in shares of United Technologies in the second quarter valued at approximately $127,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.
UTX has been the subject of several recent analyst reports. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. UBS Group initiated coverage on shares of United Technologies in a report on Wednesday, August 15th. They issued a “buy” rating for the company. Finally, Robert W. Baird increased their price objective on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a report on Thursday, September 20th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $151.90.
United Technologies stock opened at $130.71 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $102.48 billion, a PE ratio of 19.66, a P/E/G ratio of 1.94 and a beta of 1.09. United Technologies Co. has a 12-month low of $115.40 and a 12-month high of $144.15.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $1.73 earnings per share. As a group, sell-side analysts anticipate that United Technologies Co. will post 7.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 2.25%. This is a boost from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, November 15th. United Technologies’s dividend payout ratio (DPR) is presently 42.11%.
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United Technologies Profile
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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