Arrow Financial Corp Sells 382 Shares of United Technologies Corp. (UTX)
Arrow Financial Corp lowered its stake in United Technologies Corp. (NYSE:UTX) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,746 shares of the company’s stock after selling 382 shares during the period. Arrow Financial Corp’s holdings in United Technologies Corp. were worth $2,311,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Enterprise Financial Services Corp boosted its position in United Technologies Corp. by 0.7% in the third quarter. Enterprise Financial Services Corp now owns 9,945 shares of the company’s stock valued at $1,010,000 after buying an additional 66 shares during the last quarter. Flossbach Von Storch AG boosted its position in United Technologies Corp. by 12.3% in the third quarter. Flossbach Von Storch AG now owns 1,949,200 shares of the company’s stock valued at $198,039,000 after buying an additional 213,200 shares during the last quarter. World Asset Management Inc boosted its position in United Technologies Corp. by 1.9% in the third quarter. World Asset Management Inc now owns 80,915 shares of the company’s stock valued at $8,221,000 after buying an additional 1,481 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in United Technologies Corp. by 31.9% in the third quarter. First Citizens Bank & Trust Co. now owns 10,089 shares of the company’s stock valued at $1,025,000 after buying an additional 2,442 shares during the last quarter. Finally, Rothschild Asset Management Inc. boosted its position in United Technologies Corp. by 51.5% in the third quarter. Rothschild Asset Management Inc. now owns 5,639 shares of the company’s stock valued at $573,000 after buying an additional 1,916 shares during the last quarter. 78.39% of the stock is owned by hedge funds and other institutional investors.
United Technologies Corp. (NYSE:UTX) traded down 0.30% during trading on Monday, hitting $108.45. The stock had a trading volume of 2,453,510 shares. The company has a market cap of $89.30 billion, a P/E ratio of 12.39 and a beta of 1.10. United Technologies Corp. has a 12-month low of $83.39 and a 12-month high of $109.83. The company has a 50 day moving average of $103.15 and a 200-day moving average of $103.51.
United Technologies Corp. (NYSE:UTX) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.09. The business earned $14.40 billion during 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%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.67 earnings per share. On average, equities analysts predict that United Technologies Corp. will post $6.60 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Friday, November 18th will be issued a $0.66 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $2.64 annualized dividend and a dividend yield of 2.43%. United Technologies Corp.’s dividend payout ratio (DPR) is 30.28%.
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Several research analysts have issued reports on the company. Citigroup Inc. cut United Technologies Corp. from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $99.20 to $100.58 in a research report on Monday, October 10th. Credit Suisse Group AG reiterated a “hold” rating and issued a $109.00 price objective on shares of United Technologies Corp. in a research report on Friday, September 30th. Wells Fargo & Co. restated a “buy” rating on shares of United Technologies Corp. in a research report on Monday, November 14th. Vetr cut United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 price target for the company. in a research report on Monday, November 7th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of United Technologies Corp. in a research report on Monday, September 26th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. United Technologies Corp. has an average rating of “Hold” and an average target price of $109.80.
In other news, VP Robert J. Bailey sold 967 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $106.46, for a total transaction of $102,946.82. Following the sale, the vice president now directly owns 2,000 shares of the company’s stock, valued at $212,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by 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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