Monarch Capital Management Inc. cut its holdings in shares of United Technologies Co. (NYSE:UTX) by 2.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,245 shares of the conglomerate’s stock after selling 899 shares during the quarter. United Technologies accounts for about 1.9% of Monarch Capital Management Inc.’s portfolio, making the stock its 21st largest holding. Monarch Capital Management Inc.’s holdings in United Technologies were worth $5,347,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of United Technologies during the 2nd quarter worth approximately $341,297,000. Boston Partners grew its stake in shares of United Technologies by 25.0% during the 2nd quarter. Boston Partners now owns 6,752,295 shares of the conglomerate’s stock worth $844,240,000 after purchasing an additional 1,349,539 shares during the period. Epoch Investment Partners Inc. grew its stake in shares of United Technologies by 597.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,289,716 shares of the conglomerate’s stock worth $161,253,000 after purchasing an additional 1,104,849 shares during the period. Mainstay Capital Management LLC ADV grew its stake in shares of United Technologies by 5,810.8% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 993,368 shares of the conglomerate’s stock worth $8,864,000 after purchasing an additional 976,562 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of United Technologies by 480.6% during the 3rd quarter. Renaissance Technologies LLC now owns 1,129,800 shares of the conglomerate’s stock worth $157,957,000 after purchasing an additional 935,200 shares during the period. 82.10% of the stock is owned by institutional investors.
United Technologies stock opened at $119.45 on Friday. United Technologies Co. has a 1 year low of $115.40 and a 1 year high of $144.15. The firm has a market capitalization of $97.28 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.85 and a beta of 1.07. 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 earnings per share (EPS) 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 firm had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter last year, the company earned $1.73 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts forecast that United Technologies Co. will post 7.18 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.46%. This is a boost from United Technologies’s previous quarterly dividend of $0.70. United Technologies’s dividend payout ratio (DPR) is currently 44.21%.
UTX has been the topic of a number of analyst reports. ValuEngine cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Robert W. Baird raised their price objective on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a research note on Thursday, September 20th. Cowen reissued a “hold” rating and issued a $141.00 price target on shares of United Technologies in a research note on Thursday. Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Royal Bank of Canada dropped their price target on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 24th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently 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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