Eliot Finkel Investment Counsel LLC cut its stake in shares of United Technologies Co. (NYSE:UTX) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,885 shares of the conglomerate’s stock after selling 2,255 shares during the quarter. United Technologies makes up approximately 3.5% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 11th biggest holding. Eliot Finkel Investment Counsel LLC’s holdings in United Technologies were worth $5,437,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Credit Agricole S A increased its holdings in United Technologies by 101.4% during the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock valued at $109,000 after buying an additional 436 shares during the period. Fort L.P. purchased a new position in United Technologies during the second quarter valued at approximately $120,000. Psagot Investment House Ltd. purchased a new position in United Technologies during the third quarter valued at approximately $134,000. Adalta Capital Management LLC purchased a new position in United Technologies during the second quarter valued at approximately $163,000. Finally, Integrated Investment Consultants LLC purchased a new position in United Technologies during the second quarter valued at approximately $197,000. 82.10% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Robert W. Baird decreased their target price on shares of United Technologies from $167.00 to $149.00 and set an “outperform” rating for the company in a research report on Wednesday, November 28th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a report on Friday, November 23rd. Bank of America set a $180.00 price objective on shares of United Technologies and gave the company a “buy” rating in a report on Tuesday, November 27th. Finally, Cowen reaffirmed a “hold” rating and issued a $141.00 price objective on shares of United Technologies in a report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $151.58.
UTX opened at $119.45 on Friday. United Technologies Co. has a fifty-two week low of $115.40 and a fifty-two week high of $144.15. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.52 and a quick ratio of 1.17. The firm has a market capitalization of $96.81 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.84 and a beta of 1.07.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts anticipate that United Technologies Co. will post 7.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s payout ratio is currently 44.21%.
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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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