Resources Management Corp CT ADV bought a new stake in shares of United Technologies Co. (NYSE:UTX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 64,166 shares of the conglomerate’s stock, valued at approximately $8,760,000. United Technologies makes up approximately 1.6% of Resources Management Corp CT ADV’s portfolio, making the stock its 17th biggest position.
Several other institutional investors have also made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC grew its position in shares of United Technologies by 2.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,277 shares of the conglomerate’s stock worth $447,000 after buying an additional 71 shares during the period. Eads & Heald Wealth Management boosted its stake in United Technologies by 0.5% during the third quarter. Eads & Heald Wealth Management now owns 14,267 shares of the conglomerate’s stock worth $1,948,000 after acquiring an additional 72 shares in the last quarter. Glenview State Bank Trust DEPT. boosted its stake in United Technologies by 3.0% during the second quarter. Glenview State Bank Trust DEPT. now owns 2,543 shares of the conglomerate’s stock worth $331,000 after acquiring an additional 75 shares in the last quarter. Mcrae Capital Management Inc. grew its holdings in United Technologies by 1.4% in the second quarter. Mcrae Capital Management Inc. now owns 5,495 shares of the conglomerate’s stock worth $715,000 after purchasing an additional 75 shares during the period. Finally, Heritage Way Advisors LLC grew its holdings in United Technologies by 0.4% in the second quarter. Heritage Way Advisors LLC now owns 18,501 shares of the conglomerate’s stock worth $2,409,000 after purchasing an additional 75 shares during the period. Institutional investors own 80.99% of the company’s stock.
Several equities analysts have recently issued reports on UTX shares. Cowen lifted their target price on shares of United Technologies from $150.00 to $169.00 and gave the company an “outperform” rating in a report on Wednesday. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday, November 28th. Sanford C. Bernstein upped their price target on United Technologies from $143.00 to $154.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 17th. Credit Suisse Group set a $162.00 price objective on United Technologies and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Wolfe Research set a $152.00 price objective on United Technologies and gave the company a “buy” rating in a research note on Wednesday, September 18th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $157.21.
Shares of UTX traded up $0.79 on Wednesday, hitting $144.52. 3,035,213 shares of the stock traded hands, compared to its average volume of 2,262,708. The company has a market capitalization of $128.06 billion, a PE ratio of 18.99, a P/E/G ratio of 2.07 and a beta of 1.22. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.75 and a current ratio of 1.06. The business has a 50 day simple moving average of $145.08 and a 200 day simple moving average of $134.78. United Technologies Co. has a one year low of $100.48 and a one year high of $149.81.
United Technologies (NYSE:UTX) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.18. United Technologies had a return on equity of 16.81% and a net margin of 6.72%. The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.31 billion. During the same period in the prior year, the firm posted $1.93 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. On average, equities analysts expect that United Technologies Co. will post 8.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, November 14th. United Technologies’s dividend payout ratio is currently 38.63%.
United Technologies Company Profile
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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