United Technologies Corporation (UTX) Position Reduced by Telos Capital Management Inc.
Telos Capital Management Inc. decreased its stake in shares of United Technologies Corporation (NYSE:UTX) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,493 shares of the conglomerate’s stock after selling 481 shares during the period. Telos Capital Management Inc.’s holdings in United Technologies Corporation were worth $2,412,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of UTX. Riggs Asset Managment Co. Inc. boosted its position in United Technologies Corporation by 14.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 999 shares of the conglomerate’s stock valued at $112,000 after buying an additional 125 shares during the last quarter. Alexandria Capital LLC boosted its position in United Technologies Corporation by 0.4% in the first quarter. Alexandria Capital LLC now owns 1,075 shares of the conglomerate’s stock valued at $121,000 after buying an additional 4 shares during the last quarter. Paragon Capital Management Ltd purchased a new position in United Technologies Corporation during the first quarter valued at $139,000. Thompson Davis & CO. Inc. boosted its position in United Technologies Corporation by 22.9% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the conglomerate’s stock valued at $150,000 after buying an additional 249 shares during the last quarter. Finally, MCF Advisors LLC boosted its position in United Technologies Corporation by 22.4% in the first quarter. MCF Advisors LLC now owns 1,550 shares of the conglomerate’s stock valued at $174,000 after buying an additional 284 shares during the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.
Shares of United Technologies Corporation (UTX) traded down 0.640% during midday trading on Thursday, reaching $118.835. The company’s stock had a trading volume of 1,165,402 shares. United Technologies Corporation has a 12-month low of $97.62 and a 12-month high of $124.79. The stock has a 50-day moving average of $119.55 and a 200 day moving average of $117.36. The firm has a market capitalization of $94.92 billion, a P/E ratio of 18.101 and a beta of 1.06. United Technologies Corporation also was the recipient of some unusual options trading activity on Tuesday. Investors bought 9,806 call options on the stock. This represents an increase of approximately 461% compared to the average daily volume of 1,748 call options.
United Technologies Corporation (NYSE:UTX) last announced its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.07. United Technologies Corporation had a net margin of 9.15% and a return on equity of 18.07%. The firm had revenue of $15.28 billion during the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the business earned $1.82 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts predict that United Technologies Corporation will post $6.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Friday, August 18th will be paid a $0.70 dividend. This is a boost from United Technologies Corporation’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.34%. United Technologies Corporation’s dividend payout ratio (DPR) is 42.68%.
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UTX has been the topic of several research analyst reports. Zacks Investment Research raised United Technologies Corporation from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a report on Tuesday, May 16th. Jefferies Group LLC reissued a “buy” rating on shares of United Technologies Corporation in a report on Wednesday, May 31st. Royal Bank Of Canada reissued a “hold” rating and set a $125.00 price target on shares of United Technologies Corporation in a report on Friday, June 2nd. Finally, HSBC Holdings plc initiated coverage on United Technologies Corporation in a report on Monday, June 12th. They set a “hold” rating and a $125.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. United Technologies Corporation presently has an average rating of “Hold” and an average price target of $123.95.
About United Technologies Corporation
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. Otis operates as an elevator and escalator manufacturing, installation and service company.
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