Catawba Capital Management VA Boosts Position in United Technologies Corp. (UTX)
Catawba Capital Management VA boosted its position in shares of United Technologies Corp. (NYSE:UTX) by 7.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,546 shares of the company’s stock after buying an additional 1,282 shares during the period. Catawba Capital Management VA’s holdings in United Technologies Corp. were worth $1,884,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 period. FMR LLC raised its stake in United Technologies Corp. by 2.6% in the second quarter. FMR LLC now owns 21,986,379 shares of the company’s stock valued at $2,254,702,000 after buying an additional 549,366 shares in the last quarter. BlackRock Fund Advisors raised its stake in United Technologies Corp. by 1.3% in the second quarter. BlackRock Fund Advisors now owns 9,496,025 shares of the company’s stock valued at $973,817,000 after buying an additional 120,134 shares in the last quarter. Davis Selected Advisers raised its stake in United Technologies Corp. by 4.8% in the second quarter. Davis Selected Advisers now owns 9,300,803 shares of the company’s stock valued at $953,797,000 after buying an additional 421,896 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in United Technologies Corp. by 24.3% in the second quarter. Alliancebernstein L.P. now owns 8,627,389 shares of the company’s stock valued at $884,739,000 after buying an additional 1,688,688 shares in the last quarter. Institutional investors own 78.39% of the company’s stock.
Shares of United Technologies Corp. (NYSE:UTX) traded down 0.30% during midday trading on Monday, reaching $108.45. The company’s stock had a trading volume of 2,453,510 shares. United Technologies Corp. has a one year low of $83.39 and a one year high of $109.83. The firm has a market cap of $89.30 billion, a price-to-earnings ratio of 12.39 and a beta of 1.10. The stock’s 50 day moving average price is $103.15 and its 200 day moving average price is $103.51.
United Technologies Corp. (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 12.87% and a return on equity of 18.28%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 EPS. Analysts predict that United Technologies Corp. will post $6.60 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Friday, November 18th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, November 16th. United Technologies Corp.’s dividend payout ratio (DPR) is presently 30.28%.
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Several analysts have issued reports on the company. Citigroup Inc. lowered United Technologies Corp. from a “buy” rating to a “neutral” rating and boosted their price target for the company from $99.20 to $100.58 in a report on Monday, October 10th. Credit Suisse Group AG reissued a “hold” rating and set a $109.00 price target on shares of United Technologies Corp. in a report on Friday, September 30th. Wells Fargo & Co. reissued a “buy” rating on shares of United Technologies Corp. in a report on Monday, November 14th. Vetr lowered United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 price target for the company. in a report on Monday, November 7th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of United Technologies Corp. in a report on Monday, September 26th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $109.80.
In other news, VP Robert J. Bailey sold 967 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were 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 of the company’s stock, valued at approximately $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 currently owned by 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.
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