Acadian Asset Management LLC lessened its position in United Technologies Co. (NYSE:UTX) by 90.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,401 shares of the conglomerate’s stock after selling 201,106 shares during the quarter. Acadian Asset Management LLC’s holdings in United Technologies were worth $2,993,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Baldwin Brothers Inc. MA grew its stake in shares of United Technologies by 45.3% in the third quarter. Baldwin Brothers Inc. MA now owns 7,238 shares of the conglomerate’s stock worth $1,012,000 after purchasing an additional 2,257 shares during the last quarter. Oakworth Capital Inc. grew its stake in shares of United Technologies by 17.6% in the third quarter. Oakworth Capital Inc. now owns 3,929 shares of the conglomerate’s stock worth $550,000 after purchasing an additional 589 shares during the last quarter. Sun Life Financial INC grew its stake in shares of United Technologies by 546.5% in the second quarter. Sun Life Financial INC now owns 6,265 shares of the conglomerate’s stock worth $784,000 after purchasing an additional 5,296 shares during the last quarter. Pennsylvania Trust Co grew its stake in shares of United Technologies by 0.4% in the third quarter. Pennsylvania Trust Co now owns 103,636 shares of the conglomerate’s stock worth $14,489,000 after purchasing an additional 410 shares during the last quarter. Finally, Lcnb Corp grew its stake in shares of United Technologies by 13.2% in the second quarter. Lcnb Corp now owns 8,185 shares of the conglomerate’s stock worth $1,023,000 after purchasing an additional 955 shares during the last quarter. 81.64% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on UTX shares. Robert W. Baird raised their target price on United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, September 20th. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 26th. ValuEngine lowered shares of United Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Royal Bank of Canada lowered their price objective on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. United Technologies currently has a consensus rating of “Buy” and an average price target of $151.90.
UTX stock opened at $130.71 on Friday. United Technologies Co. has a 52-week low of $115.40 and a 52-week high of $144.15. The company has a market cap of $102.48 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.94 and a beta of 1.09. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $16.51 billion during the quarter, compared to analyst estimates of $16.10 billion. During the same period last year, the business earned $1.73 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts predict that United Technologies Co. will post 7.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.25%. This is a positive change 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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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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