Gemmer Asset Management LLC decreased its position in United Technologies Co. (NYSE:UTX) by 22.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 326 shares of the conglomerate’s stock after selling 96 shares during the period. Gemmer Asset Management LLC’s holdings in United Technologies were worth $42,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc raised its stake in shares of United Technologies by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 59,240,301 shares of the conglomerate’s stock worth $8,282,386,000 after purchasing an additional 1,094,947 shares in the last quarter. Founders Capital Management LLC increased its holdings in shares of United Technologies by 1.3% during the 4th quarter. Founders Capital Management LLC now owns 68,271 shares of the conglomerate’s stock worth $7,269,000 after acquiring an additional 872 shares during the last quarter. Triangle Securities Wealth Management increased its holdings in shares of United Technologies by 0.8% during the 4th quarter. Triangle Securities Wealth Management now owns 24,201 shares of the conglomerate’s stock worth $2,577,000 after acquiring an additional 188 shares during the last quarter. Patten & Patten Inc. TN increased its holdings in shares of United Technologies by 1.3% during the 4th quarter. Patten & Patten Inc. TN now owns 25,891 shares of the conglomerate’s stock worth $2,757,000 after acquiring an additional 328 shares during the last quarter. Finally, James Hambro & Partners increased its holdings in shares of United Technologies by 1.7% during the 4th quarter. James Hambro & Partners now owns 216,990 shares of the conglomerate’s stock worth $23,101,000 after acquiring an additional 3,679 shares during the last quarter. Institutional investors own 80.67% of the company’s stock.
A number of research firms recently weighed in on UTX. Vertical Research raised United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Friday. Barclays upped their price objective on United Technologies from $142.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Morgan Stanley upped their price objective on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Seaport Global Securities assumed coverage on United Technologies in a report on Friday, May 10th. They issued a “neutral” rating and a $136.86 price objective on the stock. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $149.86.
United Technologies (NYSE:UTX) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.20. The firm had revenue of $18.37 billion during the quarter, compared to the consensus estimate of $18.01 billion. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.77 EPS. Research analysts predict that United Technologies Co. will post 7.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.35%. United Technologies’s payout ratio is 38.63%.
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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