First Citizens Bank & Trust Co. boosted its position in shares of United Technologies Corp. (NYSE:UTX) by 31.9% during the third quarter, Holdings Channel reports. The fund owned 10,089 shares of the company’s stock after buying an additional 2,442 shares during the period. First Citizens Bank & Trust Co.’s holdings in United Technologies Corp. were worth $1,025,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of UTX. Chicago Partners Investment Group LLC purchased a new position in shares of United Technologies Corp. during the second quarter worth approximately $103,000. Coconut Grove Bank raised its position in United Technologies Corp. by 5.8% in the second quarter. Coconut Grove Bank now owns 1,037 shares of the company’s stock valued at $106,000 after buying an additional 57 shares in the last quarter. Tortoise Investment Management LLC raised its position in United Technologies Corp. by 6.1% in the second quarter. Tortoise Investment Management LLC now owns 1,065 shares of the company’s stock valued at $109,000 after buying an additional 61 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. raised its position in United Technologies Corp. by 181.1% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,071 shares of the company’s stock valued at $110,000 after buying an additional 690 shares in the last quarter. Finally, Orrstown Financial Services Inc. raised its position in United Technologies Corp. by 35.6% in the second quarter. Orrstown Financial Services Inc. now owns 1,085 shares of the company’s stock valued at $111,000 after buying an additional 285 shares in the last quarter. Institutional investors and hedge funds own 80.67% of the company’s stock.
United Technologies Corp. (NYSE:UTX) traded up 0.62% during midday trading on Friday, hitting $108.78. The stock had a trading volume of 1,008,723 shares. The stock has a market capitalization of $89.57 billion, a price-to-earnings ratio of 12.43 and a beta of 1.10. United Technologies Corp. has a 52 week low of $83.39 and a 52 week high of $109.83. The company’s 50 day moving average price is $102.93 and its 200-day moving average price is $103.44.
United Technologies Corp. (NYSE:UTX) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. United Technologies Corp. had a return on equity of 18.28% and a net margin of 12.87%. The company earned $14.40 billion during the quarter, compared to analysts’ expectations of $12.28 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. United Technologies Corp.’s revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that United Technologies Corp. will post $6.60 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.66 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.43%. United Technologies Corp.’s dividend payout ratio (DPR) is currently 30.28%.
Several research analysts have issued reports on UTX shares. Wells Fargo & Co. reiterated an “outperform” rating on shares of United Technologies Corp. in a research note on Tuesday, September 13th. Vetr lowered United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 price objective for the company. in a research note on Tuesday, November 1st. Deutsche Bank AG reiterated a “hold” rating and set a $107.00 price objective on shares of United Technologies Corp. in a research note on Friday, September 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of United Technologies Corp. in a research note on Monday, September 26th. Finally, Robert W. Baird assumed coverage on United Technologies Corp. in a research note on Wednesday, October 5th. They set a “neutral” rating and a $110.00 price objective for the company. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. United Technologies Corp. presently has a consensus rating of “Hold” and a consensus price target of $109.80.
In other news, VP Robert J. Bailey sold 967 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $106.46, for a total transaction of $102,946.82. Following the completion of the transaction, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $212,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.15% of the company’s stock.
About United Technologies Corp.
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. Its Otis segment designs, manufactures, sells and installs a range of passenger and freight elevators, as well as a line of escalators and moving walkways.