Evercore Wealth Management LLC boosted its position in shares of United Technologies Co. (NYSE:UTX) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,737 shares of the conglomerate’s stock after buying an additional 1,794 shares during the quarter. Evercore Wealth Management LLC’s holdings in United Technologies were worth $15,621,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in United Technologies by 0.7% during the third quarter. BlackRock Inc. now owns 47,687,427 shares of the conglomerate’s stock valued at $6,667,179,000 after buying an additional 347,202 shares during the period. FMR LLC grew its position in United Technologies by 1.4% during the third quarter. FMR LLC now owns 26,833,527 shares of the conglomerate’s stock valued at $3,751,597,000 after buying an additional 372,456 shares during the period. Third Point LLC grew its position in United Technologies by 10.5% during the third quarter. Third Point LLC now owns 8,400,000 shares of the conglomerate’s stock valued at $1,174,404,000 after buying an additional 800,000 shares during the period. Boston Partners grew its position in United Technologies by 25.0% during the second quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock valued at $844,240,000 after buying an additional 1,349,539 shares during the period. Finally, Fisher Asset Management LLC grew its position in United Technologies by 2.6% during the third quarter. Fisher Asset Management LLC now owns 4,194,261 shares of the conglomerate’s stock valued at $586,400,000 after buying an additional 107,596 shares during the period. Institutional investors own 82.10% of the company’s stock.
UTX opened at $119.45 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. The firm has a market cap of $96.81 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.84 and a beta of 1.07. United Technologies Co. has a 52-week low of $115.40 and a 52-week high of $144.15.
United Technologies (NYSE:UTX) last posted its quarterly earnings data 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. The business had revenue of $16.51 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.73 earnings per share. On average, research analysts anticipate that United Technologies Co. will post 7.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders 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 yield of 2.46%. This is an increase 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 44.21%.
UTX has been the topic of several analyst reports. ValuEngine lowered shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Robert W. Baird raised their price target on shares of United Technologies from $156.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, September 20th. Cowen restated a “hold” rating and set a $141.00 price target on shares of United Technologies in a research report on Thursday. Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Royal Bank of Canada decreased their price objective on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target 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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