Aviance Capital Management LLC Decreases Position in United Technologies Corporation (UTX)
Aviance Capital Management LLC reduced its stake in shares of United Technologies Corporation (NYSE:UTX) by 2.0% during the first quarter, Holdings Channel reports. The fund owned 7,265 shares of the conglomerate’s stock after selling 150 shares during the period. Aviance Capital Management LLC’s holdings in United Technologies Corporation were worth $815,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Private Wealth Advisors Inc. boosted its stake in United Technologies Corporation by 14.9% in the first quarter. Private Wealth Advisors Inc. now owns 23,551 shares of the conglomerate’s stock valued at $2,643,000 after buying an additional 3,051 shares during the last quarter. Mutual of Omaha Bank Wealth Management bought a new stake in United Technologies Corporation during the first quarter valued at $202,000. American National Bank boosted its stake in United Technologies Corporation by 154.5% in the first quarter. American National Bank now owns 1,845 shares of the conglomerate’s stock valued at $207,000 after buying an additional 1,120 shares during the last quarter. TNB Financial bought a new stake in United Technologies Corporation during the first quarter valued at $957,000. Finally, TRUE Private Wealth Advisors boosted its stake in United Technologies Corporation by 34.5% in the first quarter. TRUE Private Wealth Advisors now owns 3,356 shares of the conglomerate’s stock valued at $379,000 after buying an additional 861 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.
United Technologies Corporation (NYSE:UTX) traded down 0.03% on Friday, reaching $116.07. 1,008,324 shares of the company traded hands. The firm has a 50 day moving average of $120.58 and a 200-day moving average of $117.09. The stock has a market capitalization of $92.71 billion, a PE ratio of 17.68 and a beta of 1.06. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79.
United Technologies Corporation (NYSE:UTX) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The company had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.82 earnings per share. On average, analysts anticipate that United Technologies Corporation will post $6.58 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.41%. 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 is currently 42.68%.
Several equities research analysts have weighed in on UTX shares. Credit Suisse Group restated a “buy” rating and issued a $136.00 price objective on shares of United Technologies Corporation in a research report on Wednesday, July 26th. BidaskClub upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Morgan Stanley restated an “overweight” rating and issued a $138.00 price objective (up previously from $132.00) on shares of United Technologies Corporation in a research report on Monday, July 10th. Zacks Investment Research upgraded shares of United Technologies Corporation from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a research report on Tuesday, May 30th. Finally, Royal Bank Of Canada restated a “neutral” rating on shares of United Technologies Corporation in a research report on Thursday, April 27th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price 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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