Independent Portfolio Consultants Inc. cut its stake in shares of United Technologies Corp. (NYSE:UTX) by 3.1% during the third quarter, Holdings Channel reports. The institutional investor owned 9,605 shares of the company’s stock after selling 310 shares during the period. Independent Portfolio Consultants Inc.’s holdings in United Technologies Corp. were worth $976,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in United Technologies Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 51,710,590 shares of the company’s stock valued at $5,302,921,000 after buying an additional 2,049,777 shares in the last quarter. FMR LLC increased its stake in shares of United Technologies Corp. by 2.6% in the second quarter. FMR LLC now owns 21,986,379 shares of the company’s stock valued at $2,254,702,000 after buying an additional 549,366 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of United Technologies Corp. by 1.3% in the second quarter. BlackRock Fund Advisors now owns 9,496,025 shares of the company’s stock valued at $973,817,000 after buying an additional 120,134 shares during the last quarter. Davis Selected Advisers increased its stake in shares of United Technologies Corp. by 4.8% in the second quarter. Davis Selected Advisers now owns 9,300,803 shares of the company’s stock valued at $953,797,000 after buying an additional 421,896 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of United Technologies Corp. by 24.3% in the second quarter. Alliancebernstein L.P. now owns 8,627,389 shares of the company’s stock valued at $884,739,000 after buying an additional 1,688,688 shares during the last quarter. 80.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of United Technologies Corp. (NYSE:UTX) traded up 0.62% on Friday, reaching $108.78. The company’s stock had a trading volume of 1,008,723 shares. The stock has a 50-day moving average of $102.93 and a 200 day moving average of $103.44. 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.
United Technologies Corp. (NYSE:UTX) last announced its earnings results on Tuesday, October 25th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.09. The firm earned $14.40 billion during the quarter, compared to the consensus estimate of $12.28 billion. United Technologies Corp. had a return on equity of 18.28% and a net margin of 12.87%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 EPS. On average, analysts expect that United Technologies Corp. will post $6.60 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Friday, November 18th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.64 annualized dividend and a yield of 2.43%. United Technologies Corp.’s dividend payout ratio (DPR) is 30.28%.
Several equities research analysts recently commented on the company. Stifel Nicolaus reiterated a “hold” rating on shares of United Technologies Corp. in a report on Sunday, July 31st. Wells Fargo & Co. reiterated a “buy” rating on shares of United Technologies Corp. in a report on Monday, November 14th. Vetr downgraded United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 target price on the stock. in a report on Monday, November 7th. Credit Suisse Group AG reiterated a “hold” rating and set a $109.00 target price on shares of United Technologies Corp. in a report on Friday, September 30th. Finally, Zacks Investment Research upgraded United Technologies Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, October 26th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $109.80.
In other United Technologies Corp. news, VP Robert J. Bailey sold 967 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $106.46, for a total value 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 SEC, which is available at this hyperlink. 0.15% of the stock is owned by company insiders.
United Technologies Corp. Company 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. 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.