Meitav Dash Investments Ltd. trimmed its holdings in shares of United Technologies Co. (NYSE:UTX) by 36.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,858 shares of the conglomerate’s stock after selling 1,634 shares during the period. Meitav Dash Investments Ltd.’s holdings in United Technologies were worth $428,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in UTX. Fisher Asset Management LLC boosted its stake in United Technologies by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 4,727,841 shares of the conglomerate’s stock valued at $645,445,000 after purchasing an additional 117,400 shares during the last quarter. Fiera Capital Corp boosted its holdings in United Technologies by 17.9% during the 4th quarter. Fiera Capital Corp now owns 4,595,785 shares of the conglomerate’s stock worth $688,265,000 after acquiring an additional 697,181 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in United Technologies by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,992,586 shares of the conglomerate’s stock worth $597,930,000 after acquiring an additional 38,012 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of United Technologies by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,579,433 shares of the conglomerate’s stock worth $536,056,000 after acquiring an additional 45,945 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of United Technologies by 1.3% in the third quarter. Parametric Portfolio Associates LLC now owns 2,480,766 shares of the conglomerate’s stock valued at $338,674,000 after purchasing an additional 31,077 shares during the last quarter. 79.27% of the stock is owned by institutional investors.
Several research analysts recently weighed in on UTX shares. Argus restated a “buy” rating and set a $170.00 price target on shares of United Technologies in a report on Wednesday, January 29th. Cowen initiated coverage on shares of United Technologies in a research note on Tuesday, January 28th. They issued a “buy” rating and a $169.00 price objective for the company. Credit Suisse Group cut their target price on United Technologies from $177.00 to $172.00 and set an “outperform” rating on the stock in a research note on Monday. They noted that the move was a valuation call. Benchmark initiated coverage on United Technologies in a report on Friday, January 31st. They issued a “buy” rating and a $186.00 target price for the company. Finally, UBS Group increased their price target on United Technologies from $157.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. United Technologies has an average rating of “Buy” and an average target price of $164.27.
Shares of UTX stock traded down $6.08 on Thursday, hitting $132.30. 6,472,348 shares of the stock were exchanged, compared to its average volume of 4,205,259. The firm’s 50 day moving average is $152.73 and its two-hundred day moving average is $143.37. United Technologies Co. has a one year low of $121.48 and a one year high of $158.44. The firm has a market capitalization of $120.11 billion, a PE ratio of 20.64, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90.
United Technologies (NYSE:UTX) last announced its quarterly earnings data on Tuesday, January 28th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.10. The business had revenue of $19.55 billion for the quarter, compared to analysts’ expectations of $19.34 billion. United Technologies had a return on equity of 16.60% and a net margin of 7.19%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.95 EPS. On average, sell-side analysts expect that United Technologies Co. will post 8.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Thursday, February 13th. United Technologies’s payout ratio is currently 35.59%.
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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