Valmark Advisers Inc. lifted its holdings in shares of United Technologies Co. (NYSE:UTX) by 204.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,339 shares of the conglomerate’s stock after purchasing an additional 5,600 shares during the period. Valmark Advisers Inc.’s holdings in United Technologies were worth $1,166,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Credit Agricole S A increased its position in shares of United Technologies by 101.4% during the second quarter. Credit Agricole S A now owns 866 shares of the conglomerate’s stock worth $109,000 after acquiring an additional 436 shares in the last quarter. Jolley Asset Management LLC bought a new stake in United Technologies in the 2nd quarter worth about $114,000. Fort L.P. bought a new stake in United Technologies in the 2nd quarter worth about $120,000. WP Advisors LLC bought a new stake in United Technologies in the 2nd quarter worth about $126,000. Finally, Kiley Juergens Wealth Management LLC bought a new stake in United Technologies in the 2nd quarter worth about $127,000. 81.64% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on the stock. UBS Group assumed coverage on shares of United Technologies in a research report on Wednesday, August 15th. They issued a “buy” rating for the company. Royal Bank of Canada reduced their price objective on shares of United Technologies to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, October 24th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Finally, Zacks Investment Research downgraded shares of United Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. United Technologies presently has a consensus rating of “Buy” and a consensus price target of $151.90.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The business had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same period in the prior year, the firm posted $1.73 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that United Technologies Co. will post 7.27 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be given a dividend of $0.735 per share. This is an increase from United Technologies’s previous quarterly dividend of $0.70. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, November 15th. United Technologies’s dividend payout ratio is currently 42.11%.
About United Technologies
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
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