Fifth Third Bancorp cut its holdings in United Technologies Co. (NYSE:UTX) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 523,207 shares of the conglomerate’s stock after selling 1,626 shares during the quarter. Fifth Third Bancorp owned 0.07% of United Technologies worth $73,150,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of UTX. Charles Schwab Investment Advisory Inc. acquired a new position in United Technologies in the second quarter valued at approximately $341,297,000. Boston Partners raised its position in shares of United Technologies by 25.0% during the second 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. raised its position in shares of United Technologies by 597.6% during the second 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 raised its position in shares of United Technologies by 5,810.8% during the second 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 raised its position in shares of United Technologies by 480.6% during the third 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 currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on UTX. Zacks Investment Research lowered United Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Robert W. Baird lowered their target price on United Technologies from $167.00 to $149.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 28th. ValuEngine raised United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, November 23rd. Bank of America set a $180.00 target price on United Technologies and gave the stock a “buy” rating in a research report on Tuesday, November 27th. Finally, Cowen reaffirmed a “hold” rating and set a $141.00 target price on shares of United Technologies in a research report on Thursday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. United Technologies presently has an average rating of “Buy” and an average target price of $151.58.
Shares of United Technologies stock opened at $119.45 on Friday. United Technologies Co. has a 12-month low of $115.40 and a 12-month high of $144.15. The firm has a market cap of $96.81 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.84 and a beta of 1.07. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 1.12.
United Technologies (NYSE:UTX) last announced its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.11. United Technologies had a return on equity of 17.70% and a net margin of 7.76%. The business had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter in the prior year, the company posted $1.73 earnings per share. United Technologies’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate 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 issued a dividend of $0.735 per share. The ex-dividend date is Thursday, November 15th. 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. United Technologies’s dividend payout ratio is 44.21%.
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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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