WESPAC Advisors LLC boosted its holdings in shares of United Technologies Co. (NYSE:UTX) by 57.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,369 shares of the conglomerate’s stock after acquiring an additional 8,190 shares during the period. United Technologies comprises about 1.8% of WESPAC Advisors LLC’s portfolio, making the stock its 9th largest position. WESPAC Advisors LLC’s holdings in United Technologies were worth $3,127,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of UTX. Principal Financial Group Inc. grew its stake in shares of United Technologies by 10.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,317,730 shares of the conglomerate’s stock valued at $165,797,000 after purchasing an additional 126,621 shares during the period. BLB&B Advisors LLC bought a new stake in shares of United Technologies in the 2nd quarter valued at approximately $497,000. Union Bankshares Corp bought a new stake in shares of United Technologies in the 2nd quarter valued at approximately $4,873,000. CX Institutional bought a new stake in shares of United Technologies in the 2nd quarter valued at approximately $720,000. Finally, Confluence Investment Management LLC grew its stake in shares of United Technologies by 0.6% in the 2nd quarter. Confluence Investment Management LLC now owns 328,846 shares of the conglomerate’s stock valued at $41,116,000 after purchasing an additional 1,923 shares during the period. Institutional investors own 81.64% of the company’s stock.
NYSE UTX opened at $130.71 on Friday. The company has a market cap 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 Co. has a one year low of $115.40 and a one year high of $144.15. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.17 and a current ratio of 1.52.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.11. The business had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16.10 billion. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. United Technologies’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. Analysts forecast that United Technologies Co. will post 7.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 dividend on an annualized basis and a yield of 2.25%. United Technologies’s dividend payout ratio is 42.11%.
Several research firms have recently weighed in on UTX. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Robert W. Baird increased their price target on United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research report on Thursday, September 20th. ValuEngine upgraded United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Finally, UBS Group assumed coverage on United Technologies in a research report on Wednesday, August 15th. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $151.90.
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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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