United Technologies Corporation (UTX) Stake Increased by Level Four Advisory Services LLC
Level Four Advisory Services LLC raised its stake in United Technologies Corporation (NYSE:UTX) by 6.6% during the first quarter, Holdings Channel reports. The fund owned 5,348 shares of the conglomerate’s stock after buying an additional 332 shares during the period. Level Four Advisory Services LLC’s holdings in United Technologies Corporation were worth $602,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Securities LLC acquired a new position in shares of United Technologies Corporation during the first quarter valued at approximately $1,801,000. MEMBERS Trust Co acquired a new position in shares of United Technologies Corporation during the first quarter valued at approximately $556,000. Oppenheimer Asset Management Inc. acquired a new position in shares of United Technologies Corporation during the first quarter valued at approximately $3,456,000. Edmond DE Rothschild Holding S.A. increased its position in shares of United Technologies Corporation by 2.6% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 389,521 shares of the conglomerate’s stock valued at $43,708,000 after buying an additional 9,760 shares during the last quarter. Finally, Allen Investment Management LLC increased its position in shares of United Technologies Corporation by 23.2% in the first quarter. Allen Investment Management LLC now owns 7,647 shares of the conglomerate’s stock valued at $858,000 after buying an additional 1,438 shares during the last quarter. 78.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of United Technologies Corporation (NYSE:UTX) traded up 0.11% during mid-day trading on Friday, hitting $116.89. 2,090,943 shares of the company’s stock traded hands. The firm has a 50-day moving average of $121.18 and a 200 day moving average of $116.91. The company has a market cap of $93.37 billion, a PE ratio of 17.81 and a beta of 1.06. United Technologies Corporation has a 52 week low of $97.62 and a 52 week high of $124.79.
United Technologies Corporation (NYSE:UTX) last issued its earnings results on Tuesday, July 25th. The conglomerate reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $15.24 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that United Technologies Corporation will post $6.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.40%. This is a positive change from United Technologies Corporation’s previous quarterly dividend of $0.66. United Technologies Corporation’s dividend payout ratio (DPR) is currently 40.24%.
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Several research analysts have recently commented on the company. BidaskClub raised United Technologies Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating on shares of United Technologies Corporation in a report on Thursday, July 27th. Credit Suisse Group reissued a “buy” rating and issued a $136.00 target price on shares of United Technologies Corporation in a report on Wednesday, July 26th. Cowen and Company reissued a “buy” rating and issued a $127.00 target price on shares of United Technologies Corporation in a report on Tuesday, July 25th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $135.00 target price (up from $130.00) on shares of United Technologies Corporation in a report on Friday, July 21st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. United Technologies Corporation has a consensus rating of “Hold” and a consensus price target of $123.54.
United Technologies Corporation Company Profile
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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