Quadrant Capital Group LLC cut its holdings in United Technologies Co. (NYSE:UTX) by 20.4% during the 1st quarter, Holdings Channel reports. The firm owned 7,107 shares of the conglomerate’s stock after selling 1,816 shares during the period. Quadrant Capital Group LLC’s holdings in United Technologies were worth $895,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in United Technologies by 6.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 167,140 shares of the conglomerate’s stock worth $21,543,000 after buying an additional 9,784 shares during the period. Securian Asset Management Inc lifted its holdings in United Technologies by 0.6% in the first quarter. Securian Asset Management Inc now owns 83,694 shares of the conglomerate’s stock worth $10,787,000 after buying an additional 515 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in United Technologies by 10.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 49,195 shares of the conglomerate’s stock worth $6,341,000 after buying an additional 4,747 shares during the period. CENTRAL TRUST Co lifted its holdings in United Technologies by 0.4% in the first quarter. CENTRAL TRUST Co now owns 70,579 shares of the conglomerate’s stock worth $9,097,000 after buying an additional 258 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in United Technologies by 2.9% in the first quarter. Daiwa Securities Group Inc. now owns 55,343 shares of the conglomerate’s stock worth $7,133,000 after buying an additional 1,570 shares during the period. 80.67% of the stock is currently owned by institutional investors.
Several brokerages have commented on UTX. Zacks Investment Research upgraded shares of United Technologies from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $159.00 price objective on shares of United Technologies in a report on Wednesday, April 24th. Barclays raised their price objective on shares of United Technologies from $142.00 to $149.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Seaport Global Securities began coverage on shares of United Technologies in a report on Friday, May 10th. They issued a “neutral” rating and a $136.86 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $150.23.
UTX stock opened at $124.07 on Thursday. United Technologies Co. has a 52-week low of $100.48 and a 52-week high of $144.40. The company has a market cap of $106.01 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.98.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.20. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. The firm had revenue of $18.37 billion during the quarter, compared to analyst estimates of $18.01 billion. During the same period last year, the business earned $1.77 earnings per share. The business’s revenue was up 20.5% on a year-over-year basis. Sell-side analysts predict that United Technologies Co. will post 7.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.37%. United Technologies’s payout ratio is 38.63%.
In related news, VP Robert J. Bailey sold 1,418 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $126.20, for a total transaction of $178,951.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by company insiders.
United Technologies 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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