Whittier Trust Co. decreased its position in United Technologies Co. (NYSE:UTX) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 68,206 shares of the conglomerate’s stock after selling 1,275 shares during the quarter. Whittier Trust Co.’s holdings in United Technologies were worth $8,791,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in UTX. Oregon Public Employees Retirement Fund raised its stake in United Technologies by 11,458.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,426,355 shares of the conglomerate’s stock valued at $89,000 after purchasing an additional 9,344,798 shares during the last quarter. Norges Bank acquired a new position in United Technologies in the 4th quarter valued at about $824,350,000. BlackRock Inc. raised its stake in United Technologies by 13.3% in the 4th quarter. BlackRock Inc. now owns 54,035,145 shares of the conglomerate’s stock valued at $5,753,662,000 after purchasing an additional 6,347,718 shares during the last quarter. Geode Capital Management LLC raised its stake in United Technologies by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 9,926,113 shares of the conglomerate’s stock valued at $1,055,120,000 after purchasing an additional 1,293,517 shares during the last quarter. Finally, Findlay Park Partners LLP acquired a new position in United Technologies in the 4th quarter valued at about $119,790,000. 80.67% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:UTX traded up $0.50 during trading on Friday, reaching $125.31. 1,418,676 shares of the stock were exchanged, compared to its average volume of 3,923,554. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.79 and a current ratio of 1.13. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40. The stock has a market capitalization of $106.98 billion, a P/E ratio of 16.47, a PEG ratio of 1.77 and a beta of 1.26.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.20. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. The business had revenue of $18.37 billion during the quarter, compared to analysts’ expectations of $18.01 billion. During the same quarter in the previous year, the business earned $1.77 EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Analysts predict that United Technologies Co. will post 7.97 earnings per share for the current year.
The company 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. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, August 15th. United Technologies’s payout ratio is currently 38.63%.
Several research firms have commented on UTX. Seaport Global Securities began coverage on United Technologies in a report on Friday, May 10th. They issued a “neutral” rating and a $136.86 price target for the company. William Blair restated a “hold” rating on shares of United Technologies in a report on Monday. JPMorgan Chase & Co. began coverage on United Technologies in a report on Friday, February 22nd. They issued an “overweight” rating and a $132.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $159.00 price target on shares of United Technologies in a report on Wednesday, April 24th. Finally, Zacks Investment Research cut United Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. Six research 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 stock. The stock has a consensus rating of “Buy” and an average price target of $149.86.
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About United Technologies
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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