Verity & Verity LLC grew its position in shares of United Technologies Co. (NYSE:UTX) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,921 shares of the conglomerate’s stock after buying an additional 586 shares during the quarter. United Technologies accounts for 2.3% of Verity & Verity LLC’s investment portfolio, making the stock its 11th largest holding. Verity & Verity LLC’s holdings in United Technologies were worth $10,406,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC acquired a new stake in shares of United Technologies during the 1st quarter worth about $47,000. Sageworth Trust Co acquired a new stake in shares of United Technologies during the 1st quarter worth about $50,000. Canton Hathaway LLC boosted its stake in shares of United Technologies by 625.5% during the 1st quarter. Canton Hathaway LLC now owns 399 shares of the conglomerate’s stock worth $51,000 after purchasing an additional 344 shares during the last quarter. Murphy Pohlad Asset Management LLC acquired a new stake in shares of United Technologies during the 4th quarter worth about $56,000. Finally, Claybrook Capital LLC acquired a new stake in shares of United Technologies during the 4th quarter worth about $56,000. Institutional investors own 80.61% of the company’s stock.
Several equities research analysts have issued reports on the stock. Cowen reaffirmed a “hold” rating and set a $13.00 price target on shares of AMAG Pharmaceuticals in a research note on Monday, June 24th. Barclays lowered shares of FirstCash from an “overweight” rating to an “equal weight” rating in a report on Wednesday. They noted that the move was a valuation call. Royal Bank of Canada set a GBX 5,200 ($67.95) price objective on shares of London Stock Exchange Group and gave the stock a “buy” rating in a report on Wednesday, April 24th. Bank of America lowered shares of TAL Education Group from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Vertical Research upgraded shares of United Technologies from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $152.21.
Shares of UTX traded down $0.84 during mid-day trading on Friday, reaching $135.52. 990,899 shares of the stock traded hands, compared to its average volume of 3,204,752. The stock has a market cap of $115.76 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. The firm has a fifty day moving average of $130.39. United Technologies Co. has a 12-month low of $100.48 and a 12-month high of $144.40. The company has a current ratio of 1.05, a quick ratio of 0.79 and a debt-to-equity ratio of 0.93.
United Technologies (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.16. The company had revenue of $19.63 billion for the quarter, compared to analyst estimates of $19.58 billion. United Technologies had a net margin of 7.13% and a return on equity of 16.81%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.97 earnings per share. As a group, research analysts predict that United Technologies Co. will post 7.98 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.17%. United Technologies’s dividend payout ratio is currently 38.63%.
United Technologies Company 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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