OLD Point Trust & Financial Services N A boosted its stake in shares of United Technologies Co. (NYSE:UTX) by 3.8% during the first quarter, HoldingsChannel.com reports. The firm owned 8,175 shares of the conglomerate’s stock after purchasing an additional 300 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in United Technologies were worth $1,053,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of UTX. WESPAC Advisors SoCal LLC purchased a new stake in shares of United Technologies in the fourth quarter worth $26,000. Braun Bostich & Associates Inc. increased its stake in shares of United Technologies by 73.0% in the fourth quarter. Braun Bostich & Associates Inc. now owns 365 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 154 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in shares of United Technologies in the first quarter worth $47,000. Sageworth Trust Co purchased a new stake in shares of United Technologies in the first quarter worth $50,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of United Technologies in the fourth quarter worth $51,000. Institutional investors own 80.67% of the company’s stock.
A number of brokerages have recently issued reports on UTX. Seaport Global Securities began coverage on shares of United Technologies in a research note on Friday, May 10th. They issued a “neutral” rating and a $136.86 price objective for the company. William Blair reissued a “hold” rating on shares of United Technologies in a research note on Monday. JPMorgan Chase & Co. began coverage on shares of United Technologies in a research note on Friday, February 22nd. They issued an “overweight” rating and a $132.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $159.00 price objective on shares of United Technologies in a research note on Wednesday, April 24th. Finally, Zacks Investment Research cut shares of United Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $150.23.
UTX opened at $122.94 on Wednesday. The firm has a market cap of $113.95 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.88 and a beta of 1.26. United Technologies Co. has a fifty-two week low of $100.48 and a fifty-two week high of $144.40. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.13 and a quick ratio of 0.79.
United Technologies (NYSE:UTX) last posted its earnings results on Tuesday, April 23rd. The conglomerate reported $1.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.20. The company had revenue of $18.37 billion during the quarter, compared to analysts’ expectations of $18.01 billion. United Technologies had a net margin of 7.64% and a return on equity of 17.02%. United Technologies’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the company posted $1.77 earnings per share. As a group, research analysts predict that United Technologies Co. will post 7.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 16th will be paid a dividend of $0.735 per share. The ex-dividend date is Thursday, August 15th. This represents a $2.94 annualized dividend and a yield of 2.39%. United Technologies’s payout ratio is 38.63%.
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About United Technologies
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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