Jacobi Capital Management LLC Has $209,000 Stake in United Technologies Corporation (UTX)
Jacobi Capital Management LLC maintained its stake in shares of United Technologies Corporation (NYSE:UTX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,695 shares of the conglomerate’s stock at the close of the 2nd quarter. Jacobi Capital Management LLC’s holdings in United Technologies were worth $209,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in United Technologies by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 3,729,056 shares of the conglomerate’s stock valued at $455,358,000 after purchasing an additional 46,813 shares during the period. Ameriprise Financial Inc. grew its stake in United Technologies by 3.7% in the 1st quarter. Ameriprise Financial Inc. now owns 3,544,737 shares of the conglomerate’s stock valued at $397,774,000 after purchasing an additional 125,003 shares during the period. Diamond Hill Capital Management Inc. grew its stake in United Technologies by 0.6% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,517,626 shares of the conglomerate’s stock valued at $429,537,000 after purchasing an additional 19,439 shares during the period. Swiss National Bank grew its stake in United Technologies by 0.9% in the 2nd quarter. Swiss National Bank now owns 2,797,221 shares of the conglomerate’s stock valued at $341,569,000 after purchasing an additional 25,500 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in United Technologies by 3.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,600,077 shares of the conglomerate’s stock valued at $317,496,000 after purchasing an additional 86,380 shares during the period. Institutional investors and hedge funds own 80.19% of the company’s stock.
UTX has been the subject of a number of recent analyst reports. Bank of America restated a “buy” rating and issued a $140.00 price objective on shares of United Technologies in a research note on Wednesday, September 6th. Cowen restated a “buy” rating and issued a $127.00 price objective on shares of United Technologies in a research note on Tuesday, September 5th. Jefferies Group restated a “buy” rating and issued a $139.00 price objective on shares of United Technologies in a research note on Tuesday, August 29th. Stifel Nicolaus upped their price objective on United Technologies from $122.00 to $124.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $125.00 price objective on shares of United Technologies in a research note on Sunday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $125.15.
Shares of United Technologies Corporation (UTX) traded down $1.33 during midday trading on Friday, hitting $120.12. The stock had a trading volume of 3,881,741 shares, compared to its average volume of 2,522,972. United Technologies Corporation has a 1 year low of $106.85 and a 1 year high of $124.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 0.91. The stock has a market cap of $96,986.32, a PE ratio of 18.35, a PEG ratio of 2.19 and a beta of 1.07.
United Technologies (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.05. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. research analysts forecast that United Technologies Corporation will post 6.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Friday, November 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.33%. United Technologies’s dividend payout ratio (DPR) is 43.41%.
In related news, EVP Michael R. Dumais sold 2,986 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total transaction of $361,246.28. Following the sale, the executive vice president now owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Bailey sold 827 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $118.06, for a total value of $97,635.62. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
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About United Technologies
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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