United Technologies Corporation (UTX) Position Reduced by Tdam USA Inc.
Tdam USA Inc. trimmed its holdings in shares of United Technologies Corporation (NYSE:UTX) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,012 shares of the conglomerate’s stock after selling 2,359 shares during the quarter. Tdam USA Inc.’s holdings in United Technologies Corporation were worth $8,274,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. AT Bancorp grew its position in United Technologies Corporation by 4.7% during the second quarter. AT Bancorp now owns 5,283 shares of the conglomerate’s stock worth $646,000 after buying an additional 237 shares in the last quarter. Davis R M Inc. grew its position in United Technologies Corporation by 0.6% during the second quarter. Davis R M Inc. now owns 252,477 shares of the conglomerate’s stock worth $30,830,000 after buying an additional 1,390 shares in the last quarter. Beach Investment Management LLC. purchased a new position in United Technologies Corporation during the second quarter worth about $434,000. Chicago Partners Investment Group LLC grew its position in United Technologies Corporation by 24.7% during the second quarter. Chicago Partners Investment Group LLC now owns 6,278 shares of the conglomerate’s stock worth $728,000 after buying an additional 1,245 shares in the last quarter. Finally, IFP Advisors Inc grew its position in United Technologies Corporation by 6.4% during the second quarter. IFP Advisors Inc now owns 22,567 shares of the conglomerate’s stock worth $2,756,000 after buying an additional 1,366 shares in the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.
UTX has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $132.00 target price (up from $128.00) on shares of United Technologies Corporation in a research report on Thursday, June 22nd. BidaskClub upgraded United Technologies Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Royal Bank Of Canada reiterated a “hold” rating and issued a $125.00 price objective on shares of United Technologies Corporation in a report on Friday, July 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $126.00 price objective on shares of United Technologies Corporation in a report on Friday, July 7th. Finally, UBS AG upped their price objective on United Technologies Corporation to $135.00 and gave the stock a “buy” rating in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. United Technologies Corporation currently has an average rating of “Hold” and a consensus target price of $125.27.
Shares of United Technologies Corporation (NYSE:UTX) opened at 119.36 on Wednesday. The stock has a market capitalization of $95.34 billion, a PE ratio of 18.18 and a beta of 1.05. The company’s 50-day moving average price is $115.21 and its 200 day moving average price is $118.19. United Technologies Corporation has a one year low of $97.62 and a one year high of $124.79.
United Technologies Corporation (NYSE:UTX) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.07. The company had revenue of $15.28 billion during the quarter, compared to analyst estimates of $15.24 billion. United Technologies Corporation had a return on equity of 18.07% and a net margin of 9.15%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.82 earnings per share. Analysts anticipate that United Technologies Corporation will post $6.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 2.35%. United Technologies Corporation’s dividend payout ratio is currently 42.68%.
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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