Foundation Resource Management Inc. Acquires Shares of 1,749 United Technologies Corporation (UTX)

Foundation Resource Management Inc. acquired a new position in United Technologies Corporation (NYSE:UTX) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 1,749 shares of the conglomerate’s stock, valued at approximately $214,000.

Other hedge funds also recently bought and sold shares of the company. Cigna Investments Inc. New acquired a new stake in shares of United Technologies Corporation during the fourth quarter worth about $3,121,000. United Capital Financial Advisers LLC raised its stake in shares of United Technologies Corporation by 3.5% in the fourth quarter. United Capital Financial Advisers LLC now owns 210,385 shares of the conglomerate’s stock worth $23,062,000 after buying an additional 7,148 shares during the last quarter. Biegel & Waller LLC acquired a new stake in shares of United Technologies Corporation during the fourth quarter worth about $397,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of United Technologies Corporation during the fourth quarter worth about $1,118,000. Finally, Barings LLC raised its stake in shares of United Technologies Corporation by 23.7% in the fourth quarter. Barings LLC now owns 49,702 shares of the conglomerate’s stock worth $5,448,000 after buying an additional 9,530 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

United Technologies Corporation (NYSE:UTX) opened at 118.00 on Thursday. The firm has a market cap of $94.26 billion, a price-to-earnings ratio of 17.97 and a beta of 1.06. The firm’s 50-day moving average price is $120.77 and its 200-day moving average price is $117.09. United Technologies Corporation has a 12 month low of $97.62 and a 12 month high of $124.79.

United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The firm had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the firm posted $1.82 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that United Technologies Corporation will post $6.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.37%. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio (DPR) is currently 40.24%.

WARNING: This piece was posted by BBNS and is the property of of BBNS. If you are reading this piece on another website, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece can be read at https://baseballnewssource.com/markets/foundation-resource-management-inc-takes-position-in-united-technologies-corporation-utx-2-updated-updated/1313649.html.

UTX has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their price target on United Technologies Corporation from $118.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 27th. Zacks Investment Research lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Credit Suisse Group reaffirmed a “buy” rating and issued a $136.00 price objective on shares of United Technologies Corporation in a research note on Wednesday, July 26th. BidaskClub lowered United Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Morgan Stanley lifted their price objective on United Technologies Corporation from $120.00 to $123.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently 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.

Institutional Ownership by Quarter for United Technologies Corporation (NYSE:UTX)

Receive News & Ratings for United Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Los Angeles Dodgers Move 50 Games Over .500
Los Angeles Dodgers Move 50 Games Over .500
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets
Injury to CC Sabathia Adds to Yankees’ Concerns
Injury to CC Sabathia Adds to Yankees’ Concerns


Leave a Reply

 
© 2006-2017 BBNS.