Valmark Advisers Inc. boosted its position in United Technologies Co. (NYSE:UTX) by 204.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,339 shares of the conglomerate’s stock after acquiring an additional 5,600 shares during the quarter. Valmark Advisers Inc.’s holdings in United Technologies were worth $1,166,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Advisory Inc. bought a new stake in shares of United Technologies during the second quarter worth $341,297,000. Boston Partners grew its stake in shares of United Technologies by 25.0% during the second quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock worth $844,240,000 after buying an additional 1,349,539 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of United Technologies by 597.6% during the second quarter. Epoch Investment Partners Inc. now owns 1,289,716 shares of the conglomerate’s stock worth $161,253,000 after buying an additional 1,104,849 shares during the last quarter. Mainstay Capital Management LLC ADV grew its stake in shares of United Technologies by 5,810.8% during the second quarter. Mainstay Capital Management LLC ADV now owns 993,368 shares of the conglomerate’s stock worth $8,864,000 after buying an additional 976,562 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of United Technologies during the second quarter worth $113,560,000. 81.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of United Technologies stock opened at $130.71 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12. United Technologies Co. has a twelve month low of $115.40 and a twelve month high of $144.15. The firm has a market capitalization of $104.57 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The company had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. United Technologies’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that United Technologies Co. will post 7.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a $0.735 dividend. This is a boost from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, November 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.25%. United Technologies’s payout ratio is currently 42.11%.
UTX has been the topic of a number of research reports. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. ValuEngine cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Robert W. Baird boosted their target price on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, September 20th. Finally, Royal Bank of Canada decreased their target price on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $151.90.
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About United Technologies
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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