APG Asset Management N.V. Has $241,480,000 Stake in United Technologies Corp. (UTX)
APG Asset Management N.V. cut its stake in United Technologies Corp. (NYSE:UTX) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,376,767 shares of the company’s stock after selling 223,400 shares during the period. APG Asset Management N.V. owned approximately 0.29% of United Technologies Corp. worth $241,480,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of UTX. Chicago Partners Investment Group LLC acquired a new stake in shares of United Technologies Corp. during the second quarter worth approximately $103,000. Coconut Grove Bank increased its stake in shares of 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 during the last quarter. Tortoise Investment Management LLC increased its stake in shares of 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 during the last quarter. Thomas J. Herzfeld Advisors Inc. increased its stake in shares of 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 during the last quarter. Finally, Orrstown Financial Services Inc. increased its stake in shares of 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 during the last quarter. 78.39% of the stock is owned by hedge funds and other institutional investors.
Shares of United Technologies Corp. (NYSE:UTX) opened at 108.84 on Wednesday. The firm’s 50-day moving average price is $103.15 and its 200-day moving average price is $103.51. The stock has a market cap of $89.62 billion, a P/E 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 posted its quarterly earnings data on Tuesday, October 25th. The company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.67 by $0.09. The firm 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%. United Technologies Corp.’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 EPS. Equities analysts predict that United Technologies Corp. will post $6.60 EPS for the current year.
The business also recently disclosed 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. The ex-dividend date of this dividend 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 equities analysts have weighed in on UTX shares. Citigroup Inc. lowered United Technologies Corp. from a “buy” rating to a “neutral” rating and increased their price objective for the company from $99.20 to $100.58 in a report on Monday, October 10th. Robert W. Baird started coverage on United Technologies Corp. in a report on Wednesday, October 5th. They set a “neutral” rating and a $110.00 price objective for the company. Stifel Nicolaus reissued a “hold” rating on shares of United Technologies Corp. in a report on Wednesday, October 26th. Vetr lowered United Technologies Corp. from a “buy” rating to a “hold” rating and set a $106.05 price objective for the company. in a report on Tuesday, November 1st. Finally, Zacks Investment Research lowered United Technologies Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $109.80.
In other news, VP Robert J. Bailey sold 967 shares of the company’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 completion of the sale, the vice president now directly owns 2,000 shares in the company, valued at approximately $212,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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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