Broderick Brian C boosted its holdings in shares of United Technologies Corporation (NYSE:UTX) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,133 shares of the conglomerate’s stock after purchasing an additional 3,079 shares during the quarter. United Technologies Corporation makes up 1.8% of Broderick Brian C’s holdings, making the stock its 22nd largest position. Broderick Brian C’s holdings in United Technologies Corporation were worth $4,502,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Fisher Asset Management LLC boosted its position in United Technologies Corporation by 1.3% during the first quarter. Fisher Asset Management LLC now owns 8,535,397 shares of the conglomerate’s stock worth $957,757,000 after purchasing an additional 106,552 shares in the last quarter. Boston Partners boosted its position in United Technologies Corporation by 3.0% during the first quarter. Boston Partners now owns 5,385,002 shares of the conglomerate’s stock worth $604,251,000 after purchasing an additional 158,696 shares in the last quarter. Legal & General Group Plc boosted its position in United Technologies Corporation by 3.6% during the first quarter. Legal & General Group Plc now owns 3,682,243 shares of the conglomerate’s stock worth $413,192,000 after purchasing an additional 128,123 shares in the last quarter. Ameriprise Financial Inc. boosted its position in United Technologies Corporation by 3.7% during the first quarter. Ameriprise Financial Inc. now owns 3,544,737 shares of the conglomerate’s stock worth $397,774,000 after purchasing an additional 125,003 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in United Technologies Corporation by 15.8% during the first quarter. American Century Companies Inc. now owns 3,430,061 shares of the conglomerate’s stock worth $384,887,000 after purchasing an additional 468,515 shares in the last quarter. Institutional investors own 78.85% of the company’s stock.
United Technologies Corporation (NYSE UTX) traded up 0.33% during midday trading on Tuesday, hitting $110.00. The company had a trading volume of 1,899,778 shares. The stock has a market cap of $87.86 billion, a PE ratio of 16.76 and a beta of 1.05. United Technologies Corporation has a 52-week low of $97.62 and a 52-week high of $124.79. The stock’s 50-day moving average price is $117.10 and its 200-day moving average price is $117.68.
United Technologies Corporation (NYSE:UTX) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The company had revenue of $15.28 billion during the quarter, compared to the consensus estimate of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. United Technologies Corporation’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 EPS. On average, equities research analysts expect that United Technologies Corporation will post $6.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 10th. Shareholders of record on Friday, August 18th were issued a $0.70 dividend. The ex-dividend date of this dividend was 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 2.55%. United Technologies Corporation’s payout ratio is 42.68%.
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A number of equities analysts have issued reports on UTX shares. Vertical Research downgraded United Technologies Corporation from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, September 5th. Bank of America Corporation reiterated a “buy” rating and set a $140.00 price target on shares of United Technologies Corporation in a research report on Wednesday, September 6th. Deutsche Bank AG lowered their price target on United Technologies Corporation from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Wednesday, September 6th. Zacks Investment Research downgraded United Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $136.00 price target on shares of United Technologies Corporation in a research report on Wednesday, July 26th. Sixteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $124.48.
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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