Eqis Capital Management Inc. Has $2.41 Million Stake in United Technologies Co. (UTX)
Eqis Capital Management Inc. grew its stake in United Technologies Co. (NYSE:UTX) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,755 shares of the conglomerate’s stock after acquiring an additional 1,815 shares during the period. Eqis Capital Management Inc.’s holdings in United Technologies were worth $2,409,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in UTX. Curbstone Financial Management Corp raised its position in shares of United Technologies by 95.6% in the third quarter. Curbstone Financial Management Corp now owns 19,824 shares of the conglomerate’s stock valued at $2,301,000 after buying an additional 9,687 shares in the last quarter. Norman Fields Gottscho Capital Management LLC raised its position in shares of United Technologies by 173.7% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 7,526 shares of the conglomerate’s stock valued at $874,000 after buying an additional 4,776 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new stake in shares of United Technologies in the second quarter valued at approximately $503,000. Burgundy Asset Management Ltd. raised its position in shares of United Technologies by 1.0% in the second quarter. Burgundy Asset Management Ltd. now owns 3,444,873 shares of the conglomerate’s stock valued at $420,653,000 after buying an additional 34,410 shares in the last quarter. Finally, W. E. Donoghue & Co. LLC acquired a new stake in shares of United Technologies in the second quarter valued at approximately $2,247,000. Institutional investors own 80.20% of the company’s stock.
Shares of United Technologies Co. (NYSE:UTX) traded up $2.41 during trading on Friday, hitting $126.17. 6,190,000 shares of the company traded hands, compared to its average volume of 2,996,031. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $100,755.58, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.27 and a beta of 1.07. United Technologies Co. has a one year low of $106.85 and a one year high of $126.44.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.05. United Technologies had a net margin of 8.79% and a return on equity of 17.66%. The firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. equities research analysts anticipate that United Technologies Co. will post 6.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 10th. Stockholders of record on Friday, November 17th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.22%. United Technologies’s dividend payout ratio is currently 43.41%.
In related news, VP Robert J. Bailey sold 636 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $124.35, for a total value of $79,086.60. Following the sale, the vice president now owns 1,500 shares in the company, valued at approximately $186,525. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael R. Dumais sold 2,986 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the completion of the sale, the executive vice president now owns 27,548 shares in the company, valued at approximately $3,332,757.04. The disclosure for this sale can be found here. Insiders have sold 11,261 shares of company stock worth $1,363,783 in the last quarter. Company insiders own 0.16% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Atlantic Securities upgraded shares of United Technologies from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 5th. Royal Bank of Canada reiterated a “hold” rating and issued a $126.00 price target on shares of United Technologies in a research report on Tuesday, October 10th. Jefferies Group reiterated a “buy” rating and issued a $139.00 price target on shares of United Technologies in a research report on Tuesday, August 29th. Cowen restated a “hold” rating and set a $120.00 price objective on shares of United Technologies in a research report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $125.63.
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United Technologies 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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