Retirement Systems of Alabama lowered its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,272 shares of the conglomerate’s stock after selling 681 shares during the period. Retirement Systems of Alabama’s holdings in United Technologies Corporation were worth $40,651,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in UTX. Tortoise Investment Management LLC raised its stake in United Technologies Corporation by 2.7% in the fourth quarter. Tortoise Investment Management LLC now owns 1,031 shares of the conglomerate’s stock worth $113,000 after buying an additional 27 shares in the last quarter. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of United Technologies Corporation during the fourth quarter worth about $115,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of United Technologies Corporation during the fourth quarter worth about $118,000. Focused Wealth Management Inc increased its stake in shares of United Technologies Corporation by 81.3% in the fourth quarter. Focused Wealth Management Inc now owns 1,115 shares of the conglomerate’s stock worth $122,000 after buying an additional 500 shares during the last quarter. Finally, SRS Capital Advisors Inc. bought a new position in United Technologies Corporation during the fourth quarter worth $132,000. Hedge funds and other institutional investors own 80.37% of the company’s stock.
United Technologies Corporation (NYSE:UTX) traded up 1.18% during trading on Monday, hitting $121.85. 3,393,900 shares of the stock traded hands. The stock has a market cap of $97.63 billion, a P/E ratio of 18.97 and a beta of 1.06. United Technologies Corporation has a 52-week low of $96.89 and a 52-week high of $122.85. The stock has a 50 day moving average price of $120.77 and a 200-day moving average price of $113.82.
United Technologies Corporation (NYSE:UTX) last released its earnings results on Wednesday, April 26th. The conglomerate reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.09. United Technologies Corporation had a return on equity of 18.10% and a net margin of 9.10%. The firm had revenue of $13.82 billion for the quarter, compared to the consensus estimate of $13.50 billion. During the same period in the prior year, the business posted $1.47 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts anticipate that United Technologies Corporation will post $6.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.30%. United Technologies Corporation’s dividend payout ratio is 41.19%.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of United Technologies Corporation from a “buy” rating to a “hold” rating and set a $134.00 target price for the company. in a research report on Wednesday, June 14th. HSBC Holdings plc initiated coverage on shares of United Technologies Corporation in a research note on Monday, June 12th. They issued a “hold” rating and a $125.00 target price on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 target price on shares of United Technologies Corporation in a research note on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating on shares of United Technologies Corporation in a research note on Wednesday, May 31st. Finally, Vetr upgraded shares of United Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $120.13.
In related news, VP Robert J. Bailey sold 2,702 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $119.53, for a total transaction of $322,970.06. Following the sale, the vice president now directly owns 5,000 shares in the company, valued at approximately $597,650. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Philippe Delpech sold 7,696 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $120.32, for a total value of $925,982.72. Following the sale, the insider now owns 63,621 shares of the company’s stock, valued at approximately $7,654,878.72. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
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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