United Technologies Corp. (UTX) Announces Quarterly Dividend of $0.66
United Technologies Corp. (NYSE:UTX) announced a quarterly dividend on Wednesday, October 12th. Stockholders 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 dividend yield of 2.67%.
Shares of United Technologies Corp. (NYSE:UTX) opened at 98.93 on Thursday. The stock’s 50 day moving average is $103.25 and its 200 day moving average is $103.27. United Technologies Corp. has a 12 month low of $83.39 and a 12 month high of $109.83. The stock has a market capitalization of $82.80 billion, a PE ratio of 11.67 and a beta of 1.11.
United Technologies Corp. (NYSE:UTX) last issued its earnings results on Tuesday, July 26th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.14. United Technologies Corp. had a net margin of 12.79% and a return on equity of 18.14%. The firm earned $14.90 billion during the quarter, compared to analysts’ expectations of $14.67 billion. During the same quarter last year, the company posted $1.81 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. Analysts anticipate that United Technologies Corp. will post $6.58 earnings per share for the current fiscal year.
Several research analysts recently issued reports on UTX shares. Jefferies Group reissued a “buy” rating and set a $118.00 target price on shares of United Technologies Corp. in a report on Wednesday, July 27th. Bank of America Corp. reissued a “buy” rating and set a $130.00 target price (up previously from $115.00) on shares of United Technologies Corp. in a report on Wednesday, July 27th. Barclays PLC lifted their price objective on shares of United Technologies Corp. from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, July 27th. Zacks Investment Research raised shares of United Technologies Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of United Technologies Corp. in a report on Saturday, July 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $110.04.
In other news, insider Robert J. Mcdonough sold 3,100 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 11,349 shares of the company’s stock, valued at approximately $1,215,591.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Charles D. Gill sold 6,202 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $109.00, for a total transaction of $676,018.00. Following the completion of the sale, the vice president now directly owns 51,778 shares in the company, valued at $5,643,802. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. increased its stake in United Technologies Corp. by 181.1% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,071 shares of the company’s stock worth $110,000 after buying an additional 690 shares during the period. Cable Hill Partners LLC increased its stake in United Technologies Corp. by 59.0% in the second quarter. Cable Hill Partners LLC now owns 1,181 shares of the company’s stock worth $122,000 after buying an additional 438 shares during the period. Cornerstone Advisors Inc. increased its stake in United Technologies Corp. by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 1,895 shares of the company’s stock worth $194,000 after buying an additional 5 shares during the period. Sawtooth Asset Management Inc. bought a new stake in United Technologies Corp. during the second quarter worth about $206,000. Finally, Ancora Advisors LLC bought a new stake in United Technologies Corp. during the second quarter worth about $209,000. 80.18% of the stock is currently owned by institutional investors and hedge funds.
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.
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