Pictet North America Advisors SA Has $384,000 Position in United Technologies Corporation (UTX)
Pictet North America Advisors SA lessened its holdings in United Technologies Corporation (NYSE:UTX) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,146 shares of the conglomerate’s stock after selling 314 shares during the period. Pictet North America Advisors SA’s holdings in United Technologies Corporation were worth $384,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Community Bank & Trust Waco Texas acquired a new position in United Technologies Corporation during the 2nd quarter worth $272,000. Pictet & Cie Europe SA lifted its position in United Technologies Corporation by 4.4% during the 2nd quarter. Pictet & Cie Europe SA now owns 74,008 shares of the conglomerate’s stock worth $9,037,000 after acquiring an additional 3,100 shares during the last quarter. State of Tennessee Treasury Department lifted its position in United Technologies Corporation by 33.9% during the 2nd quarter. State of Tennessee Treasury Department now owns 595,084 shares of the conglomerate’s stock worth $72,667,000 after acquiring an additional 150,693 shares during the last quarter. Cedar Capital LLC lifted its position in United Technologies Corporation by 22.2% during the 2nd quarter. Cedar Capital LLC now owns 2,327 shares of the conglomerate’s stock worth $284,000 after acquiring an additional 422 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in United Technologies Corporation by 21.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 37,514 shares of the conglomerate’s stock worth $4,582,000 after acquiring an additional 6,749 shares during the last quarter. 78.33% of the stock is owned by institutional investors and hedge funds.
United Technologies Corporation (NYSE UTX) opened at $116.73 on Friday. United Technologies Corporation has a twelve month low of $106.85 and a twelve month high of $124.79. 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 stock has a market cap of $93,217.07, a PE ratio of 17.63, a PEG ratio of 2.10 and a beta of 1.07.
United Technologies Corporation (NYSE:UTX) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) 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 the consensus estimate of $14.99 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. equities research analysts forecast that United Technologies Corporation will post 6.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.40%. United Technologies Corporation’s payout ratio is 43.41%.
UTX has been the subject of a number of research analyst reports. Bank of America Corporation reissued a “buy” rating and set a $140.00 target price on shares of United Technologies Corporation in a research report on Wednesday, September 6th. Deutsche Bank AG cut 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 research report on Wednesday, September 6th. Vertical Research lowered 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 research report on Tuesday, September 5th. Cowen Inc lowered shares of United Technologies Corporation from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $127.00 to $120.00 in a research report on Wednesday, September 6th. Finally, Stifel Nicolaus boosted their target price on shares of United Technologies Corporation from $122.00 to $124.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $125.15.
In other news, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $120.98, for a total transaction of $361,246.28. Following the transaction, the executive vice president now owns 27,548 shares in the company, valued at approximately $3,332,757.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.
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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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