The United Technologies Corp. (UTX) Announces $0.66 Quarterly Dividend

The United Technologies Corp. (UTX) Announces $0.66 Quarterly Dividend

United Technologies Corp. (NYSE:UTX) announced a quarterly dividend on Wednesday, October 12th. Shareholders of record on Friday, November 18th will be paid a dividend of 0.66 per share on Saturday, December 10th. This represents a $2.64 annualized dividend and a yield of 2.67%.

Shares of United Technologies Corp. (NYSE:UTX) traded up 0.18% during midday trading on Wednesday, reaching $98.95. The company’s stock had a trading volume of 2,185,754 shares. United Technologies Corp. has a 52-week low of $83.39 and a 52-week high of $109.83. The stock has a 50 day moving average price of $103.51 and a 200-day moving average price of $103.30. The company has a market capitalization of $82.81 billion, a price-to-earnings ratio of 11.67 and a beta of 1.11.

United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.14. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The business had revenue of $14.90 billion for the quarter, compared to the consensus estimate of $14.67 billion. During the same period last year, the business earned $1.81 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that United Technologies Corp. will post $6.58 EPS for the current year.

UTX has been the topic of a number of research analyst reports. Citigroup Inc. lowered United Technologies Corp. from a “buy” rating to a “neutral” rating and raised their target price for the company from $99.20 to $100.58 in a report on Monday. Jefferies Group reaffirmed a “buy” rating on shares of United Technologies Corp. in a report on Tuesday, July 5th. Barclays PLC raised their target price on United Technologies Corp. from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, July 27th. Robert W. Baird initiated coverage on United Technologies Corp. in a report on Wednesday, October 5th. They issued a “neutral” rating and a $110.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of United Technologies Corp. in a report on Sunday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $110.04.

In other United Technologies Corp. news, VP Charles D. Gill sold 7,144 shares of United Technologies Corp. stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $108.05, for a total value of $771,909.20. Following the completion of the transaction, the vice president now owns 55,278 shares in the company, valued at approximately $5,972,787.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert J. Mcdonough sold 3,100 shares of United Technologies Corp. stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $107.11, for a total value of $332,041.00. Following the completion of the transaction, the insider now owns 11,349 shares of the company’s stock, valued at approximately $1,215,591.39. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of UTX. Cornerstone Advisors Inc. increased its position in shares of United Technologies Corp. by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 1,895 shares of the company’s stock valued at $194,000 after buying an additional 5 shares during the last quarter. Holderness Investments Co. increased its stake in United Technologies Corp. by 0.3% in the second quarter. Holderness Investments Co. now owns 12,459 shares of the company’s stock worth $1,278,000 after buying an additional 41 shares during the last quarter. National Asset Management Inc. increased its stake in United Technologies Corp. by 0.3% in the second quarter. National Asset Management Inc. now owns 18,528 shares of the company’s stock worth $1,373,000 after buying an additional 54 shares during the last quarter. SVA Plumb Wealth Management LLC increased its stake in United Technologies Corp. by 2.5% in the second quarter. SVA Plumb Wealth Management LLC now owns 2,525 shares of the company’s stock worth $259,000 after buying an additional 61 shares during the last quarter. Finally, Camelot Portfolios LLC increased its stake in United Technologies Corp. by 1.1% in the second quarter. Camelot Portfolios LLC now owns 8,353 shares of the company’s stock worth $857,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 80.18% of the company’s stock.

United Technologies Corp. Company Profile

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