Independent Advisor Alliance lifted its position in United Technologies Co. (NYSE:UTX) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,854 shares of the conglomerate’s stock after acquiring an additional 970 shares during the period. Independent Advisor Alliance’s holdings in United Technologies were worth $3,150,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Credit Agricole S A boosted its holdings in shares of United Technologies by 101.4% during the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after purchasing an additional 436 shares during the period. Fort L.P. acquired a new stake in shares of United Technologies during the second quarter worth approximately $120,000. WP Advisors LLC acquired a new stake in shares of United Technologies during the second quarter worth approximately $126,000. Psagot Investment House Ltd. acquired a new stake in shares of United Technologies during the third quarter worth approximately $134,000. Finally, Adalta Capital Management LLC acquired a new stake in shares of United Technologies during the second quarter worth approximately $163,000. 82.16% of the stock is currently owned by institutional investors and hedge funds.
NYSE UTX opened at $121.20 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 $98.30 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.95 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 earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.11. The firm 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 company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 earnings per share. As a group, analysts anticipate that United Technologies Co. will post 7.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.43%. 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 payout ratio is presently 44.21%.
Several research firms recently commented on UTX. UBS Group began coverage on shares of United Technologies in a report on Wednesday, August 15th. They set a “buy” rating for the company. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. Royal Bank of Canada decreased their price target on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a research note on Tuesday, September 25th. Finally, Wolfe Research set a $147.00 target price on shares of United Technologies and gave the company a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $151.58.
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United Technologies Company 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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