Tiemann Investment Advisors LLC reduced its position in United Technologies Corporation (NYSE:UTX) by 14.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,114 shares of the conglomerate’s stock after selling 2,064 shares during the period. United Technologies Corporation accounts for approximately 1.3% of Tiemann Investment Advisors LLC’s holdings, making the stock its 19th largest position. Tiemann Investment Advisors LLC’s holdings in United Technologies Corporation were worth $1,359,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of UTX. M Holdings Securities Inc. boosted its position in United Technologies Corporation by 2.2% in the fourth quarter. M Holdings Securities Inc. now owns 47,101 shares of the conglomerate’s stock worth $5,163,000 after buying an additional 1,014 shares during the last quarter. Becker Capital Management Inc. boosted its position in shares of United Technologies Corporation by 2.0% in the fourth quarter. Becker Capital Management Inc. now owns 10,384 shares of the conglomerate’s stock worth $1,138,000 after buying an additional 200 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of United Technologies Corporation by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 1,320,882 shares of the conglomerate’s stock worth $144,795,000 after buying an additional 38,352 shares during the last quarter. Kentucky Retirement Systems acquired a new position in United Technologies Corporation during the fourth quarter valued at $6,091,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in United Technologies Corporation during the fourth quarter valued at $2,718,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.
United Technologies Corporation (UTX) opened at 115.48 on Friday. The firm has a 50-day moving average of $120.41 and a 200-day moving average of $117.13. United Technologies Corporation has a 1-year low of $97.62 and a 1-year high of $124.79. The stock has a market capitalization of $92.24 billion, a price-to-earnings ratio of 17.59 and a beta of 1.06.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. The company had revenue of $15.28 billion for the quarter, compared to the consensus estimate of $15.24 billion. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. United Technologies Corporation’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 earnings per share. Equities research analysts anticipate 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. Stockholders of record on Friday, August 18th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Wednesday, August 16th. This is an increase 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 analysts recently commented on the company. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a report on Tuesday, May 16th. UBS AG upped their price objective on United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Jefferies Group LLC reaffirmed a “buy” rating on shares of United Technologies Corporation in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of United Technologies Corporation in a research note on Thursday, April 27th. Finally, Morgan Stanley boosted their target price on United Technologies Corporation from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus 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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