Flossbach Von Storch AG Has $178,027,000 Stake in United Technologies Corp. (UTX)
Flossbach Von Storch AG reduced its position in United Technologies Corp. (NYSE:UTX) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,736,000 shares of the company’s stock after selling 85,970 shares during the period. United Technologies Corp. makes up approximately 3.1% of Flossbach Von Storch AG’s investment portfolio, making the stock its 13th largest position. Flossbach Von Storch AG owned about 0.21% of United Technologies Corp. worth $178,027,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. boosted its position 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 in the last quarter. Ronna Sue Cohen boosted its position in United Technologies Corp. by 0.3% in the second quarter. Ronna Sue Cohen now owns 2,722 shares of the company’s stock worth $279,000 after buying an additional 7 shares in the last quarter. Eastern Bank boosted its position in United Technologies Corp. by 0.6% in the second quarter. Eastern Bank now owns 4,038 shares of the company’s stock worth $414,000 after buying an additional 25 shares in the last quarter. Financial Architects Inc boosted its position in United Technologies Corp. by 0.8% in the second quarter. Financial Architects Inc now owns 3,697 shares of the company’s stock worth $379,000 after buying an additional 30 shares in the last quarter. Finally, Palisade Capital Management LLC NJ boosted its position in United Technologies Corp. by 0.5% in the first quarter. Palisade Capital Management LLC NJ now owns 7,790 shares of the company’s stock worth $780,000 after buying an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.
United Technologies Corp. (NYSE:UTX) traded up 0.28% during midday trading on Tuesday, reaching $99.99. 3,043,815 shares of the company traded hands. The company has a 50-day moving average price of $102.36 and a 200-day moving average price of $103.30. United Technologies Corp. has a 12-month low of $83.39 and a 12-month high of $109.83. The company has a market cap of $83.68 billion, a price-to-earnings ratio of 11.79 and a beta of 1.11.
United Technologies Corp. (NYSE:UTX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.14. United Technologies Corp. had a return on equity of 18.14% and a net margin of 12.79%. The company earned $14.90 billion during the quarter, compared to analysts’ expectations of $14.67 billion. During the same period in the prior year, the business earned $1.81 earnings per share. United Technologies Corp.’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts predict that United Technologies Corp. will post $6.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Friday, November 18th will be paid a $0.66 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.64%. United Technologies Corp.’s payout ratio is 31.13%.
A number of equities analysts have weighed in on the company. Credit Suisse Group AG restated a “hold” rating on shares of United Technologies Corp. in a report on Saturday, July 9th. Bank of America Corp. restated a “buy” rating and issued a $130.00 price target (up previously from $115.00) on shares of United Technologies Corp. in a report on Wednesday, July 27th. Jefferies Group reiterated a “buy” rating and set a $118.00 target price on shares of United Technologies Corp. in a research note on Wednesday, July 27th. Stifel Nicolaus reiterated a “hold” rating on shares of United Technologies Corp. in a research note on Sunday, July 31st. Finally, Zacks Investment Research cut United Technologies Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $110.04.
In related news, insider Robert J. Mcdonough sold 3,100 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $107.11, for a total value of $332,041.00. Following the completion of the transaction, the insider now directly owns 11,349 shares in the company, valued at $1,215,591.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles D. Gill sold 6,202 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $109.00, for a total value of $676,018.00. Following the completion of the transaction, the vice president now owns 51,778 shares of the company’s stock, valued at $5,643,802. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.
About United Technologies Corp.
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.
Receive News & Stock Ratings for United Technologies Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Technologies Corp. and related stocks with our FREE daily email newsletter.