Ropes Wealth Advisors LLC lowered its position in United Technologies Corporation (NYSE:UTX) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,588 shares of the conglomerate’s stock after selling 840 shares during the period. Ropes Wealth Advisors LLC’s holdings in United Technologies Corporation were worth $2,310,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of UTX. Riggs Asset Managment Co. Inc. increased its stake in shares of United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of United Technologies Corporation by 2.7% in the fourth quarter. Tortoise Investment Management LLC now owns 1,031 shares of the conglomerate’s stock valued at $113,000 after buying an additional 27 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of United Technologies Corporation during the fourth quarter valued at about $118,000. Alexandria Capital LLC increased its stake in shares of United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares in the last quarter. Finally, Paragon Capital Management Ltd acquired a new position in United Technologies Corporation during the first quarter valued at $139,000. Institutional investors own 78.69% of the company’s stock.
Shares of United Technologies Corporation (NYSE:UTX) opened at 115.48 on Friday. The stock has a 50 day moving average price of $120.41 and a 200 day moving average price of $117.13. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79. The firm has a market cap of $92.24 billion, a PE ratio of 17.59 and a beta of 1.06.
United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. The firm had revenue of $15.28 billion for the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 EPS. On average, equities research analysts expect that United Technologies Corporation will post $6.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.42%. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio (DPR) is currently 42.68%.
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Several brokerages have commented on UTX. Zacks Investment Research lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Cowen and Company restated a “buy” rating and set a $127.00 price objective on shares of United Technologies Corporation in a research note on Tuesday, July 25th. BidaskClub lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $138.00 target price (up previously from $132.00) on shares of United Technologies Corporation in a report on Monday, July 10th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $125.00 target price on shares of United Technologies Corporation in a report on Friday, July 7th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $123.54.
United Technologies Corporation Company Profile
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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