Meiji Yasuda Life Insurance Co lessened its stake in shares of United Technologies Corporation (NYSE:UTX) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 19,997 shares of the conglomerate’s stock after selling 100 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in United Technologies were worth $2,442,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in UTX. Harbour Capital Advisors LLC grew its holdings in United Technologies by 11,652.2% during the second quarter. Harbour Capital Advisors LLC now owns 2,127,156 shares of the conglomerate’s stock valued at $17,420,000 after purchasing an additional 2,109,056 shares during the period. Flossbach Von Storch AG grew its holdings in United Technologies by 95.6% during the second quarter. Flossbach Von Storch AG now owns 1,617,008 shares of the conglomerate’s stock valued at $197,453,000 after purchasing an additional 790,496 shares during the period. Swiss National Bank grew its holdings in United Technologies by 25.2% during the first quarter. Swiss National Bank now owns 2,771,721 shares of the conglomerate’s stock valued at $311,015,000 after purchasing an additional 557,300 shares during the period. Northwestern Mutual Investment Management Company LLC grew its holdings in United Technologies by 288.1% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 588,005 shares of the conglomerate’s stock valued at $60,300,000 after purchasing an additional 436,509 shares during the period. Finally, Karp Capital Management Corp bought a new stake in United Technologies during the first quarter valued at about $40,211,000. 78.33% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the sale, the executive vice president now directly owns 27,548 shares in the company, valued at $3,332,757.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.
United Technologies Corporation (UTX) traded up $0.18 during trading hours on Friday, hitting $116.91. The company had a trading volume of 1,490,000 shares, compared to its average volume of 2,545,281. The company has a quick ratio of 0.91, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $93,360.82, a P/E ratio of 17.66, a P/E/G ratio of 2.11 and a beta of 1.07. United Technologies Corporation has a 12 month low of $106.85 and a 12 month high of $124.79.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.05. The company had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.76 earnings per share. equities research analysts predict that United Technologies Corporation will post 6.61 earnings per share for the current year.
The company also recently announced 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 is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.40%. United Technologies’s dividend payout ratio is currently 43.41%.
Several analysts have issued reports on the company. Zacks Investment Research raised United Technologies from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. BidaskClub upgraded United Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Cowen Inc restated a “hold” rating and issued a $120.00 price objective on shares of United Technologies in a research report on Tuesday, October 24th. Vertical Research downgraded United Technologies from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Tuesday, September 5th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $125.00 price objective on shares of United Technologies in a research report on Sunday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. United Technologies currently has a consensus rating of “Hold” and an average price target of $125.15.
United Technologies 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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