Baldwin Brothers Inc. MA lifted its stake in shares of United Technologies Co. (NYSE:UTX) by 45.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,238 shares of the conglomerate’s stock after purchasing an additional 2,257 shares during the period. Baldwin Brothers Inc. MA’s holdings in United Technologies were worth $1,012,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in UTX. Oakworth Capital Inc. boosted its holdings in United Technologies by 17.6% in the 3rd quarter. Oakworth Capital Inc. now owns 3,929 shares of the conglomerate’s stock valued at $550,000 after purchasing an additional 589 shares during the last quarter. Sun Life Financial INC boosted its holdings in United Technologies by 546.5% in the 2nd quarter. Sun Life Financial INC now owns 6,265 shares of the conglomerate’s stock valued at $784,000 after purchasing an additional 5,296 shares during the last quarter. Pennsylvania Trust Co boosted its holdings in United Technologies by 0.4% in the 3rd quarter. Pennsylvania Trust Co now owns 103,636 shares of the conglomerate’s stock valued at $14,489,000 after purchasing an additional 410 shares during the last quarter. Lcnb Corp boosted its holdings in United Technologies by 13.2% in the 2nd quarter. Lcnb Corp now owns 8,185 shares of the conglomerate’s stock valued at $1,023,000 after purchasing an additional 955 shares during the last quarter. Finally, Martin Investment Management LLC lifted its holdings in shares of United Technologies by 2.3% in the 2nd quarter. Martin Investment Management LLC now owns 89,070 shares of the conglomerate’s stock worth $11,136,000 after acquiring an additional 1,988 shares during the last quarter. 82.16% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:UTX traded down $0.29 during trading hours on Thursday, reaching $125.71. The stock had a trading volume of 2,728,688 shares, compared to its average volume of 5,101,918. United Technologies Co. has a 1 year low of $115.40 and a 1 year high of $144.15. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 1.12. The company has a market cap of $100.92 billion, a PE ratio of 18.90, a P/E/G ratio of 1.98 and a beta of 1.09.
United Technologies (NYSE:UTX) last issued its earnings results on Tuesday, October 23rd. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. United Technologies had a net margin of 7.76% and a return on equity of 17.70%. The business had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts expect that United Technologies Co. will post 7.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a $0.735 dividend. This is a boost from United Technologies’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.34%. United Technologies’s dividend payout ratio is presently 44.21%.
Several equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of United Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Robert W. Baird upped their price objective on shares of United Technologies from $156.00 to $167.00 and gave the stock a “neutral” rating in a report on Thursday, September 20th. ValuEngine upgraded shares of United Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 14th. UBS Group assumed coverage on shares of United Technologies in a report on Wednesday, August 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada decreased their price objective on shares of United Technologies to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $151.90.
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United Technologies 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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