Foundry Partners LLC Has $16,580,000 Stake in United Technologies Corp. (UTX)
Foundry Partners LLC reduced its position in United Technologies Corp. (NYSE:UTX) by 9.0% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 163,190 shares of the company’s stock after selling 16,155 shares during the period. United Technologies Corp. comprises about 0.9% of Foundry Partners LLC’s holdings, making the stock its 12th largest position. Foundry Partners LLC’s holdings in United Technologies Corp. were worth $16,580,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Boston Partners boosted its stake in shares of United Technologies Corp. by 182.4% in the second quarter. Boston Partners now owns 4,192,600 shares of the company’s stock worth $429,951,000 after buying an additional 2,707,944 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of United Technologies Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 51,710,590 shares of the company’s stock worth $5,302,921,000 after buying an additional 2,049,777 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of United Technologies Corp. during the second quarter worth $178,242,000. Alliancebernstein L.P. raised its position in shares of United Technologies Corp. by 24.3% in the second quarter. Alliancebernstein L.P. now owns 8,627,389 shares of the company’s stock worth $884,739,000 after buying an additional 1,688,688 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of United Technologies Corp. during the second quarter worth about $100,023,000. Institutional investors and hedge funds own 80.67% of the company’s stock.
United Technologies Corp. (NYSE:UTX) traded up 0.62% on Friday, reaching $108.78. 1,008,723 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $102.93 and its 200 day moving average is $103.44. The company has a market cap of $89.57 billion, a price-to-earnings ratio of 12.43 and a beta of 1.10. United Technologies Corp. has a 52 week low of $83.39 and a 52 week high of $109.83.
United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.09. United Technologies Corp. had a return on equity of 18.28% and a net margin of 12.87%. The company had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $12.28 billion. During the same quarter last year, the business earned $1.67 earnings per share. United Technologies Corp.’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that United Technologies Corp. will post $6.60 earnings per share for the current year.
The business also recently declared 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. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Wednesday, November 16th. United Technologies Corp.’s payout ratio is currently 30.28%.
A number of equities analysts recently issued reports on UTX shares. Zacks Investment Research lowered shares of United Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Robert W. Baird started coverage on shares of United Technologies Corp. in a research report on Wednesday, October 5th. They set a “neutral” rating and a $110.00 target price on the stock. Stifel Nicolaus reaffirmed a “hold” rating on shares of United Technologies Corp. in a research report on Wednesday, October 26th. Vetr lowered shares of United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 target price on the stock. in a research report on Tuesday, November 1st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $107.00 target price on shares of United Technologies Corp. in a research report on Friday, September 23rd. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. United Technologies Corp. currently has a consensus rating of “Hold” and an average price target of $109.80.
In related news, VP Robert J. Bailey sold 967 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 2,000 shares in the company, valued at $212,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.