United Technologies Corporation (UTX) Position Lifted by Dorsey & Whitney Trust CO LLC
Dorsey & Whitney Trust CO LLC boosted its holdings in United Technologies Corporation (NYSE:UTX) by 21.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,943 shares of the conglomerate’s stock after acquiring an additional 1,387 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in United Technologies were worth $970,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in UTX. Ameriprise Financial Inc. lifted its stake in United Technologies by 10.9% during the second quarter. Ameriprise Financial Inc. now owns 3,931,862 shares of the conglomerate’s stock worth $480,116,000 after purchasing an additional 387,125 shares in the last quarter. Legal & General Group Plc raised its stake in shares of United Technologies by 1.3% in the second quarter. Legal & General Group Plc now owns 3,729,056 shares of the conglomerate’s stock valued at $455,358,000 after acquiring an additional 46,813 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of United Technologies by 0.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,517,626 shares of the conglomerate’s stock valued at $429,537,000 after acquiring an additional 19,439 shares in the last quarter. Fiera Capital Corp raised its stake in shares of United Technologies by 14.8% in the second quarter. Fiera Capital Corp now owns 3,013,096 shares of the conglomerate’s stock valued at $367,929,000 after acquiring an additional 388,467 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of United Technologies by 0.9% in the second quarter. Swiss National Bank now owns 2,797,221 shares of the conglomerate’s stock valued at $341,569,000 after acquiring an additional 25,500 shares in the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.
UTX has been the topic of several analyst reports. Bank of America reiterated a “buy” rating and issued a $140.00 price objective on shares of United Technologies in a research note on Wednesday, September 6th. Deutsche Bank reduced their price objective on United Technologies from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Wednesday, September 6th. Vertical Research cut United Technologies from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Tuesday, September 5th. Cowen cut United Technologies from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $127.00 to $120.00 in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus increased their price objective on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $125.15.
United Technologies Corporation (NYSE:UTX) traded up $0.91 during trading hours on Thursday, reaching $121.20. The company had a trading volume of 2,607,400 shares, compared to its average volume of 3,036,120. The stock has a market capitalization of $96,059.98, a price-to-earnings ratio of 18.17, a PEG ratio of 2.17 and a beta of 1.07. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 52-week low of $106.85 and a 52-week high of $124.79.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating the consensus estimate of $1.68 by $0.05. The firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. United Technologies’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 earnings per share. equities research analysts anticipate that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, November 16th. United Technologies’s dividend payout ratio (DPR) is presently 43.41%.
In related news, VP Akhil Johri sold 5,979 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $121.03, for a total value of $723,638.37. Following the transaction, the vice president now owns 23,295 shares of the company’s stock, valued at $2,819,393.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert J. Bailey sold 827 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. Insiders sold 9,792 shares of company stock worth $1,182,520 in the last three months. 0.16% of the stock is currently owned by corporate insiders.
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About United Technologies
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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