Oakmont Corp bought a new position in shares of United Technologies Corporation (NYSE:UTX) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,660 shares of the conglomerate’s stock, valued at approximately $203,000. United Technologies Corporation makes up approximately 0.0% of Oakmont Corp’s investment portfolio, making the stock its 17th largest position.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Boston Advisors LLC increased its holdings in United Technologies Corporation by 75.4% during the 2nd quarter. Boston Advisors LLC now owns 20,587 shares of the conglomerate’s stock worth $2,514,000 after purchasing an additional 8,852 shares in the last quarter. ING Groep NV increased its holdings in United Technologies Corporation by 4.2% during the 2nd quarter. ING Groep NV now owns 236,321 shares of the conglomerate’s stock worth $28,857,000 after purchasing an additional 9,494 shares in the last quarter. Bray Capital Advisors increased its holdings in United Technologies Corporation by 3.3% during the 2nd quarter. Bray Capital Advisors now owns 18,511 shares of the conglomerate’s stock worth $2,260,000 after purchasing an additional 588 shares in the last quarter. Wellington Shields Capital Management LLC increased its holdings in United Technologies Corporation by 9.3% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 11,793 shares of the conglomerate’s stock worth $1,440,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in United Technologies Corporation by 94.7% during the 2nd quarter. Acadian Asset Management LLC now owns 339,208 shares of the conglomerate’s stock worth $41,422,000 after purchasing an additional 164,971 shares in the last quarter. Hedge funds and other institutional investors own 78.85% of the company’s stock.
A number of equities analysts have issued reports on the company. Deutsche Bank AG lowered their target price on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating for the company in a report on Wednesday, September 6th. Bank of America Corporation reiterated a “buy” rating and set a $140.00 target price on shares of United Technologies Corporation in a report on Wednesday, September 6th. Cowen and Company cut United Technologies Corporation from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $127.00 to $120.00 in a report on Wednesday, September 6th. Vertical Research cut United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Tuesday, September 5th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of United Technologies Corporation in a report on Friday, September 1st. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $124.48.
Shares of United Technologies Corporation (UTX) traded up 0.17% during midday trading on Tuesday, reaching $109.83. 2,239,805 shares of the company traded hands. The company has a 50-day moving average of $117.10 and a 200 day moving average of $117.68. The firm has a market capitalization of $87.73 billion, a PE ratio of 16.73 and a beta of 1.05. 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 issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The business had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the firm posted $1.82 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that United Technologies Corporation will post $6.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 10th. Shareholders of record on Friday, August 18th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.55%. This is an increase from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, August 16th. United Technologies Corporation’s dividend payout ratio is presently 42.68%.
United Technologies Corporation 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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