Eliot Finkel Investment Counsel LLC cut its stake in United Technologies Corporation (NYSE:UTX) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,120 shares of the conglomerate’s stock after selling 50 shares during the period. United Technologies Corporation comprises about 3.8% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 13th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in United Technologies Corporation were worth $5,143,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. boosted its holdings in United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after purchasing an additional 125 shares during the period. Winfield Associates Inc. lifted its holdings in United Technologies Corporation by 2.9% during the 2nd quarter. Winfield Associates Inc. now owns 1,029 shares of the conglomerate’s stock worth $126,000 after buying an additional 29 shares during the last quarter. Alexandria Capital LLC lifted its holdings in United Technologies Corporation by 0.3% during the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after buying an additional 3 shares during the last quarter. Paragon Capital Management Ltd purchased a new stake in United Technologies Corporation during the 1st quarter worth about $139,000. Finally, Exane Derivatives purchased a new stake in United Technologies Corporation during the 2nd quarter worth about $141,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.
Shares of United Technologies Corporation (NYSE:UTX) opened at 118.82 on Friday. The firm has a market cap of $94.91 billion, a PE ratio of 18.10 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 $115.11 and its 200-day moving average price is $118.06.
United Technologies Corporation (NYSE:UTX) last issued its earnings results 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 firm had revenue of $15.28 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the company posted $1.82 earnings per share. United Technologies Corporation’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that United Technologies Corporation will post $6.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.36%. United Technologies Corporation’s dividend payout ratio is currently 42.68%.
A number of brokerages have issued reports on UTX. Royal Bank Of Canada reaffirmed a “hold” rating and set a $126.00 price target on shares of United Technologies Corporation in a report on Tuesday. BidaskClub downgraded United Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $126.00 price target on shares of United Technologies Corporation in a report on Friday, July 7th. Zacks Investment Research downgraded United Technologies Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of United Technologies Corporation in a report on Thursday, July 27th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $125.27.
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About United Technologies Corporation
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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