Field & Main Bank purchased a new stake in shares of United Technologies Co. (NYSE:UTX) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,901 shares of the conglomerate’s stock, valued at approximately $1,534,000. United Technologies comprises about 1.4% of Field & Main Bank’s holdings, making the stock its 18th biggest position.
Other hedge funds have also recently added to or reduced their stakes in the company. WESPAC Advisors SoCal LLC purchased a new position in shares of United Technologies during the fourth quarter valued at $26,000. Braun Bostich & Associates Inc. grew its stake in United Technologies by 73.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 154 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new position in United Technologies in the first quarter valued at about $47,000. Sageworth Trust Co purchased a new position in United Technologies in the first quarter valued at about $50,000. Finally, Canton Hathaway LLC grew its stake in United Technologies by 625.5% in the first quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock valued at $51,000 after purchasing an additional 344 shares in the last quarter. 80.61% of the stock is owned by institutional investors and hedge funds.
UTX has been the topic of a number of recent research reports. Vertical Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Friday, June 14th. Zacks Investment Research upgraded United Technologies from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a research note on Wednesday, March 27th. Seaport Global Securities upgraded United Technologies from a “neutral” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Monday, June 10th. William Blair restated a “hold” rating on shares of United Technologies in a research note on Monday, June 10th. Finally, Cowen upgraded United Technologies from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $135.00 to $150.00 in a research note on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. United Technologies has an average rating of “Buy” and a consensus target price of $150.50.
United Technologies (NYSE:UTX) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.20. The business had revenue of $18.37 billion for the quarter, compared to analyst estimates of $18.01 billion. United Technologies had a return on equity of 17.02% and a net margin of 7.64%. United Technologies’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.77 EPS. On average, research analysts anticipate that United Technologies Co. will post 7.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be given a dividend of $0.735 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.26%. United Technologies’s dividend payout ratio (DPR) is presently 38.63%.
United Technologies Company 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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