GAM Holding AG Raises Position in United Technologies Corporation (UTX)
GAM Holding AG boosted its stake in United Technologies Corporation (NYSE:UTX) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,984 shares of the conglomerate’s stock after buying an additional 5,353 shares during the quarter. GAM Holding AG’s holdings in United Technologies Corporation were worth $33,578,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of UTX. Virginia Retirement Systems ET AL lifted its stake in United Technologies Corporation by 18.3% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 179,600 shares of the conglomerate’s stock worth $21,931,000 after purchasing an additional 27,800 shares in the last quarter. First Houston Capital Inc. raised its position in shares of United Technologies Corporation by 2.4% during the 2nd quarter. First Houston Capital Inc. now owns 8,500 shares of the conglomerate’s stock valued at $1,038,000 after buying an additional 200 shares during the period. Edgemoor Investment Advisors Inc. purchased a new stake in shares of United Technologies Corporation during the 2nd quarter valued at approximately $235,000. Valley National Advisers Inc. raised its position in shares of United Technologies Corporation by 13.6% during the 2nd quarter. Valley National Advisers Inc. now owns 1,333 shares of the conglomerate’s stock valued at $163,000 after buying an additional 160 shares during the period. Finally, RiverPoint Capital Management LLC raised its position in shares of United Technologies Corporation by 1.8% during the 2nd quarter. RiverPoint Capital Management LLC now owns 166,362 shares of the conglomerate’s stock valued at $20,314,000 after buying an additional 3,017 shares during the period. 78.81% of the stock is currently owned by hedge funds and other institutional investors.
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United Technologies Corporation (NYSE:UTX) opened at $120.40 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 1 year low of $100.74 and a 1 year high of $124.79. The firm has a market cap of $96,682.86, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.18 and a beta of 1.07.
United Technologies Corporation (NYSE:UTX) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.05. United Technologies Corporation had a net margin of 8.79% and a return on equity of 17.66%. The company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same period in the prior year, the business posted $1.76 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. equities analysts anticipate that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, November 16th. United Technologies Corporation’s payout ratio is 43.41%.
Several research firms have recently commented on UTX. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $135.00 price target (up previously from $130.00) on shares of United Technologies Corporation in a research report on Friday, July 21st. Vertical Research downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Tuesday, September 5th. Deutsche Bank AG dropped their target price on shares of United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating for the company in a report on Wednesday, September 6th. Credit Suisse Group reiterated a “buy” rating and issued a $136.00 target price on shares of United Technologies Corporation in a report on Wednesday, July 26th. Finally, BidaskClub downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. United Technologies Corporation has an average rating of “Hold” and a consensus price target of $125.15.
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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