Bath Savings Trust Co Increases Stake in United Technologies Corp. (UTX)
Bath Savings Trust Co raised its stake in United Technologies Corp. (NYSE:UTX) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,318 shares of the company’s stock after buying an additional 914 shares during the period. United Technologies Corp. accounts for about 2.3% of Bath Savings Trust Co’s investment portfolio, making the stock its 12th largest position. Bath Savings Trust Co’s holdings in United Technologies Corp. were worth $7,348,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of UTX. Chicago Partners Investment Group LLC acquired a new position in shares of United Technologies Corp. during the second quarter valued at about $103,000. Coconut Grove Bank raised its stake in United Technologies Corp. by 5.8% in the second quarter. Coconut Grove Bank now owns 1,037 shares of the company’s stock worth $106,000 after buying an additional 57 shares in the last quarter. Tortoise Investment Management LLC raised its stake in United Technologies Corp. by 6.1% in the second quarter. Tortoise Investment Management LLC now owns 1,065 shares of the company’s stock worth $109,000 after buying an additional 61 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. raised 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 in the last quarter. Finally, Orrstown Financial Services Inc. raised its stake in United Technologies Corp. by 35.6% in the second quarter. Orrstown Financial Services Inc. now owns 1,085 shares of the company’s stock worth $111,000 after buying an additional 285 shares in the last quarter. Institutional investors own 80.81% of the company’s stock.
United Technologies Corp. (NYSE:UTX) traded down 0.19% during midday trading on Friday, hitting $106.50. 2,677,456 shares of the stock traded hands. United Technologies Corp. has a 12 month low of $83.39 and a 12 month high of $109.83. The firm has a market cap of $87.69 billion, a PE ratio of 12.17 and a beta of 1.10. The company’s 50 day moving average price is $101.57 and its 200 day moving average price is $103.14.
United Technologies Corp. (NYSE:UTX) last issued its earnings results on Tuesday, October 25th. The company reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. The firm had revenue of $14.40 billion for the quarter, compared to analyst estimates of $12.28 billion. United Technologies Corp. had a return on equity of 18.28% and a net margin of 12.87%. United Technologies Corp.’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 earnings per share. Equities research analysts predict that United Technologies Corp. will post $6.60 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 given a $0.66 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.64 dividend on an annualized basis and a yield of 2.48%. United Technologies Corp.’s dividend payout ratio is currently 30.28%.
A number of analysts have weighed in on the stock. Jefferies Group restated a “buy” rating and set a $118.00 price objective on shares of United Technologies Corp. in a research note on Wednesday, July 27th. Bank of America Corp. restated a “buy” rating and set a $130.00 price objective (up from $115.00) on shares of United Technologies Corp. in a research note on Wednesday, July 27th. Stifel Nicolaus restated a “hold” rating on shares of United Technologies Corp. in a research note on Sunday, July 31st. Vetr lowered shares of United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 price objective for the company. in a research note on Monday, November 7th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of United Technologies Corp. in a research note on Monday, November 14th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. United Technologies Corp. has an average rating of “Hold” and a consensus target price of $109.80.
In related news, VP Robert J. Bailey sold 967 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $106.46, for a total value of $102,946.82. Following the sale, the vice president now owns 2,000 shares in the company, valued at $212,920. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by corporate insiders.
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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